According to Omdia's third quarter 2022 Large Area Display Market Tracker 3Q22, the most recent data available, shipments of large display panels fell 8% year-over-year in 2022, while square footage shipped fell 3% year-over-year.

Peter Su, chief analyst of display panel research at Omdia, said, "In early 2022, many brands and retailers chose to continue purchasing panels and maintain high inventories in anticipation of strong demand, especially for IT products. But the global recession, a slowdown in demand after the COVID-19 pandemic, and the Russia-Ukraine war have reduced demand for large-size display panels. As a result, TV brands cut panel purchases from the second quarter of 2022, while IT brands cut panel purchases from mid-2022. Some brands, such as laptop and monitor makers, have even cut their panel demand by half as much as planned, while several OEM brands are further reducing their panel purchases in the fourth quarter of 2022. As a result, sluggish shipments of IT display panels such as tablets, laptops and monitors will lead to an overall decline in large-size display panel shipments in 2022."

In 2022, the Chinese mainland is expected to account for 55.2 percent of the total shipments of large-size display panels, followed by China's Taiwan at 24.9 percent and South Korea at 14.7 percent, according to Omdia's research. China is also expected to take the top spot in large-size display panel shipments with 61.3%, followed by Taiwan with 17.1% and South Korea with 15.4%. Boe is expected to take the largest share of large-size display panel shipments and area shipments in 2022, with 33.1% and 26.1%, respectively, followed by Innolux Optronics with 13.3% and China Star Optronics with 17.4%.

Source: Omdia