Global Thin-Film Transistor Market is valued at approximately USD XXX million in 2019 and is anticipated to grow with a healthy growth rate of more than XXX% over the forecast period 2020-2027.
A thin-film-transistor (TFT) is a form of field-effect transistor that is frequently used in a liquid crystal display (LCD). This type of display employed with TFTs for each pixel. A TFTs act as individual switches that set aside the pixels to change state quickly, making them turn on and off much more efficiently. They are usually manufactured by layering the thin films of an active semiconductor layer, as well as the metallic contacts and dielectric layer over a supporting substrate. TFT technology is often used in both direct and indirect capture digital radiography detectors which are used in medical radiography.
Also, Active-matrix organic light-emitting diode (AMOLED) displays further have a TFT layer. They are typically inserted within the panel that can reduce crosstalk between the pixels and enhance the image stability, which may drive the utility for thin-film transistor around the world. Furthermore, rising demand for compact size & reduced weight of consumer electronics, along with the increasing application of TFT in the field of robotics and medical science are the few factors responsible for the CAGR of the market during the forecast period. For instance, in the UK, the market value of the consumer electronics market was around roughly USD 20.30 million in 2018 and is projected to grow around USD 22.53 19.2 million by 2020. Similarly, the overall consumer electronic industry is anticipated to grow nearly by 2.2% in size during 2018-2019, accomplishing a total of USD 401 billion. This, in turn, is likely to strengthen the adoption of thin-film transistors all over the world. Moreover, the recent outbreak of COVID-19 around the world has adversely affected the consumer electronics industry as the manufacturing operations are temporarily suspended due to the lockdown imposed by the government, which has led to the unavailability of adequate raw material and causes a slowdown in the production. Also, the government has restricted the movement of goods, services, and people to prevent the spread of novel coronavirus, which caused a shortage in demand for TFT and thus, inhibiting the growth at least in the recent year. However, the high cost of the manufacturing and limited availability of high-resolution TFTs are the major factors restraining the market growth over the forecast period of 2020-2027.
The regional analysis of the global Thin-Film Transistor market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share owing to the penetration of consumer electronics, and the presence of a significant number of manufacturers in the region. Whereas Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in demand for high-definition picture quality and growing disposable income of the individuals would create lucrative growth prospects for the Thin-Film Transistor market across the Asia-Pacific region.
Major market player included in this report are:
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
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