E-cigarettes, gaming consoles, and two-wheelers drive industrial display panel revenue to $2.4 billion, up 13.6% YoY in 2025. By Investing.com

LONDON, January 19, 2025 /PRNewswire/ — Industrial display panel shipments are forecast to reach 167.9 million units, marking a significant 10.9% year-over-year growth in 2024, according to analysis by Omdia’s “Industrial and Public display and OEM intelligence“. Among the 12 industrial display applications, the smart home and office application segments, among the 50 industrial display sub-applications, ranked first with a 46% shipment share. Within this category, multifunction printers took a 22% shipment share with a total of 8.6 million units with a panel size under 3 inches and 5 million units with sizes ranging from 3.1 to 7 inches, mostly guided AUO Display Plus.

While most industrial display demand is expected to remain flat or fall slightly due to inventory issues, double-digit shipment growth will be driven mainly by certain sectors, including 0.96-inch AMOLED panels for e-cigarettes and 8-inch LTPS game consoles, and Truly has driven much of this growth. Industrial display shipments are expected to further increase to 178 million units in 2025, reflecting 6% annual growth. Omdia predicts a recovery in demand for factory automation, while the e-cigarette and game console markets are expected to maintain their strong performance.

From the perspective of industrial panel manufacturers which includes major industrial panel manufacturers such as AUO Display PlusBOE, Innolux, Tianma and Truly, the revenue is estimated to reach 2.1 billion dollars for 2024, reflecting a slight decline of 3.5% year-on-year. However, it is expected to return 2.4 billion dollars in 2025, recording a strong annual growth of 13.6%.

From 2024 to 2025, industrial display supply chain participants are working with different business models, balancing collaboration and competition to diversify product portfolios and increase revenues. Panel manufacturers like AUO Display PlusBOE and Truly are increasing efforts in the set and open frame business, some panel manufacturers need to have revenue first, while some prefer to choose set and open frame businesses, which are expected to account for 4.8% of total panel revenues in 2024 .

Geopolitical risks and the impact of tariffs in 2025 pose challenges, prompting the supply chain to shift production to Southeast Asia and India. Fortunately, many participants, including touch panel suppliers, panel module houses, ODMs and some industrial brands have already established mass production in Southeast Asia allowing for an easier transition.

“Higher revenue growth is expected in 2025, driven by e-cigarettes, game consoles and new applications, such as two-wheelers with a-Si display technology,” TzuHu Huang said.

“These vehicles require displays that can withstand direct sunlight and rain leading to more stringent specifications.”

In addition, products with mini LED backlights, planned for vending machines, marine and professional medical displays and drones, are expected to enter mass production and further increase revenues.

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