LG Display's digital cockpit equipped with P-OLED P2P. (Provided by LG Display)
LG Display’s digital cockpit outfitted with P-OLED P2P. (Provided by LG Display)

In 2019, LG Display grew to become the primary within the business to mass-produce automotive P-OLED, setting a brand new customary for automotive show expertise. This pioneering transfer has since positioned the corporate as a pacesetter within the premium automotive show market, a standing confirmed by current market knowledge.

According to international market analysis agency Omdia, LG Display ranked first within the premium automotive show market, which incorporates Organic Light Emitting Diode (OLED) and Low-Temperature Polycrystalline Silicon (LTPS) Liquid Crystal Display (LCD), with a market share of 23.1% based mostly on income in 2022. This achievement marks the very best market share ever for the corporate, following 21.9% in 2021. LG Display’s dominance is additional highlighted by the numerous hole with its opponents, with Japan’s Sharp holding 19.4% and Japan Display at 15.6%.

In the primary quarter of this 12 months, LG Display’s market share elevated even additional to twenty-eight.5%. In distinction, Sharp’s share decreased to fifteen.6%, and Japan Display’s to 14.4%, solidifying LG Display’s main place available in the market. The firm’s success might be attributed to its steady innovation and introduction of assorted merchandise based mostly on differentiated applied sciences, such because the world’s largest automotive show, a 57-inch P2P LCD, and automotive P-OLED P2P.

The introduction of the Software-Defined Vehicle (SDV) period has considerably elevated the demand for large-screen, high-definition shows, resulting in an increase in demand for premium merchandise. Omdia tasks that the income from premium merchandise corresponding to automotive OLED and LTPS LCD will develop at a median annual fee of 13%, from roughly $5.6 billion in 2024 to about $10.6 billion in 2028. The share of premium merchandise within the whole automotive show income is predicted to rise from 48% in 2024 to 65% in 2027.

The total automotive show market is predicted to develop at a median annual fee of about 6%, reaching $16 billion by 2030. This progress is pushed by the rising client demand for superior infotainment methods, higher navigation interfaces, and total improved in-car experiences.

Source link