It is expected that global panel shipments will increase by 2% -3% in 2024, with a 9% -15% increase in shipping area

Research firm Omdia recently stated that global panel shipments will increase by 2% to 3% this year, and the shipment area is expected to increase by 9% to 15%. In the first quarter of this year, the revenue of major global panel manufacturers increased compared to last year, and the panel industry saw a significant recovery with improved profits. Omdia’s Senior Research Director stated that post pandemic demand for artificial intelligence (AI) is driving panel demand, and panel prices are expected to reach a high point and maintain in the third quarter. Due to a decrease in demand in the fourth quarter, panel prices may decline. The research director of Omdia stated that in order to avoid falling into an industrial cycle and experiencing loss pressure, panel manufacturers have started to transform in recent years, but the transformation cannot be achieved overnight. This year is the true year of transformation. The agency believes that the main impact of Apple’s iPad switching to OLED panels is in the MiniLED backlight module market. However, the market for MiniLED backlights for television is still expected to grow rapidly, and the development of MicroLED is still on the horizon, with further developments to be observed; OLED panels are in high demand. In addition, institutions have stated that South Korean panel manufacturer LG Display is expected to sell its 8.5 generation panel factory located in Guangzhou, and the buyer may be BOE; Sharp’s Guangzhou 10.5 OEM has the opportunity to sell to Huaxing Optoelectronics.