Display demand hit rock bottom in 2022!
With a pandemic taking over our lives many things started to change including display demand. Here is all we know.
Ever since Covid-19 happened every sector has been having hard time with demand and supply issues. Many companies including the big ones announced a decline in sales. Sadly, technology suppliers and manufacturers are at the forefront of the problematic industries. Reports show that display deman hit rock bottom during 2022. Here all the details.
Display demand hit rock bottom in 2022!
What started with Covid-19 has even got worse when other problems occured on top of a pandemic. Situation has gotten worse because of the energy crisis, problems with supply, and the global economy. According to the most recent Display long-term demand forecast tracker from Omdia, demand for displays will increase by 6.2% year-over-year in 2023. Due to rising interest rates and inflation, the industry experienced a challenging period, particularly in 2022.
Also the need in the sector is also changing. As big screens get cheaper, they become more common. Large panel manufacturers make displays larger than 75 inches to save money and work more efficiently. As a result, it is anticipated that the market for 70-inch televisions will expand by more than 15% in 2022 and grow to 21 million units in 2023.OLED has also seen positive advancements.In the coming years, it is anticipated that this technology will reduce costs, improve image quality, and expand its market share.
