TechTarget Inc (TTGT, Financial), through its subsidiary Omdia, has released a report forecasting a substantial increase in industrial display panel shipments, expected to reach 167.9 million units in 2024, marking a 10.9% year-over-year growth. The report, published on January 19, 2025, identifies smart home and office applications as leading segments, with multi-function printers contributing significantly to shipment volumes. Despite some challenges, the industrial display market is poised for further growth, with revenue projected to rebound to USD 2.4 billion in 2025, driven by sectors like e-cigarettes and gaming consoles.
Positive Aspects
- Projected 10.9% YoY growth in industrial display panel shipments for 2024.
- Smart home and office applications lead with a 46% shipment share.
- Revenue expected to rebound to USD 2.4 billion in 2025, a 13.6% YoY increase.
- Emerging markets like e-cigarettes and gaming consoles driving growth.
Negative Aspects
- Overall revenue for 2024 is expected to decline by 3.5% YoY.
- Geopolitical risks and tariffs pose challenges for the supply chain.
- Inventory challenges may lead to stable or slightly declining demand in some sectors.
Financial Analyst Perspective
From a financial standpoint, TechTarget Inc (TTGT, Financial) is positioned to capitalize on the growing demand for industrial display panels, particularly in high-growth segments like e-cigarettes and gaming consoles. The anticipated rebound in revenue to USD 2.4 billion in 2025 suggests a strong recovery and potential for increased profitability. However, the slight revenue decline in 2024 highlights the need for strategic adjustments to navigate geopolitical and inventory challenges effectively.
Market Research Analyst Perspective
As a market research analyst, the report underscores the dynamic nature of the industrial display market, with significant growth opportunities in smart home and office applications. The shift towards Southeast Asia and India for production indicates a strategic response to geopolitical risks, ensuring supply chain resilience. The focus on emerging applications like two-wheeled vehicles and mini LEDs for specialized markets suggests a diversification strategy that could enhance market penetration and revenue streams.
Frequently Asked Questions
Q: What is the projected growth rate for industrial display panel shipments in 2024?
A: The shipments are projected to grow by 10.9% year-over-year.
Q: Which segments are driving the growth in industrial display panel shipments?
A: Smart home and office applications, particularly multi-function printers, are leading the growth.
Q: What is the expected revenue for industrial display panels in 2025?
A: The revenue is expected to reach USD 2.4 billion, marking a 13.6% YoY increase.
Q: What challenges does the industrial display market face?
A: Geopolitical risks, tariffs, and inventory challenges are key concerns for the market.
Read the original press release here.
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