The development in the design and manufacture of display systems first began with the invention of the Cathode-Ray-Tube (CRT) technology by Ferdinand Braun in 1897. The CRT technology was the dominant industry standard for display systems up until the late 20th century. New trends such as the growing demand for mobile electronics increased demand for displays that rival and surpass CRTs in picture quality, size, and power consumption. One of the most prominent technological developments in recent years was the Liquid Crystal Display (LCD). In 2020 alone, around 193.6 million LCD TVs are expected to be sold worldwide, despite the negative economic impact brought about by the coronavirus (COVID-19) outbreak. Apart from the CRT and LCD, new technologies such as organic light emitting diodes (OLED), quantum dot display (QLED), plasma display panels (PDP), field emission displays (FED) as well as electronic papers, are gaining market ground. Sales of QLED TVs are projected to reach 8.3 million units in 2020.
LCD and OLED are also the major display technologies used for smartphone displays, with shipments of LTPS TFT LCD smartphone display reaching 145 million in the third quarter of 2019 alone. The high-end smartphone models, such as the iPhone 11 Pro, make use of OLED displays that offer better picture quality. OLED is also used to make flexible displays, and shipments for foldable smartphones are expected to reach 100 million by 2025.
Asia is the production center for display panels, with China, South Korea and Taiwan being at the forefront. China has a share of 40 percent of the global display panel production capacity in 2018 and is expected to take away more shares from South Korea and Taiwan in the coming years. The country produces most of the LCD panels in the world, whereas the OLED market is and will remain dominated by South Korea.
