Vietnam Display Market - Forecast(2024 - 2030)

Vietnam Displays Market is growing at a CAGR of 7.29% during the forecast period 2022-2027. Increasing adoption of interactive displays across enterprise and education sector due to digital transformation shift is analysed to be a major driving factor for the growth of Vietnam Displays Market. With the constant need to improve teaching or training experiences along with shift towards online learning gradually within educational institutes, including schools, colleges or universities, there is significant adoption of interactive display boards to make learning experiences more interactive and beneficial. Additionally, utilization of interactive display screens within educational premises or corporate businesses have been gaining wide popularity in the Vietnamese markets overtime as a part of enhancing application areas including video conferencing, presentations, interactive picture-based learning and many more. Furthermore, rising demand towards varied medical diagnostic equipment including patient monitors, ventilators and others across hospitals or healthcare centers for COVID-19 treatment is driving the Vietnam Displays market growth.

The report: “Vietnam Display Market – Forecast (2022-2027)”, by IndustryARC covers an in-depth analysis of the following segments of the Vietnam Display industry.

By Type: Touch Displays, Non-Touch Displays

By Industry: Consumer Electronics, Automotive, Aerospace and Defense, Education, Healthcare, Retail and Hospitality, Media and Entertainment, Industrial, Enterprise and Others

By Product Type: Smartphones, TV Sets, Laptops, Tablets and Monitors, Digital Signage, Automotive Displays, Aerospace Displays, Wearables, Video Walls, Medical Monitors, HMDs, HUDs and VR/AR Displays, Industrial Automation and Control Systems, Broadcast Reference Monitors and Others

By Device Deployment: Standalone, Embedded

By Display Function: 2D, 3D

By Device Type: Fixed, Portable

By Technology: LED, OLED, LCD, QLED< E-Ink, Others

By Panel Size: Micro Display, Small Display, Medium Display, Large Display

By Geography: North Vietnam, South Vietnam, Central Vietnam

Consumer Electronics has dominated the market share in the Industry segment with 76% in 2021, owing to the friendly government policies which aimed to strengthen the consumer electronics sector in offering various display solution in television sets, laptops, smartphones and many others electronic devices. Vietnam has showed a huge potential for consumer electronic market growth in last few years and is analysed to be a manufacturing hub for various consumer electronics solutions during the forecast period owing to increasing investments in this sector. Consumer Electronics is analyzed to grow at a highest CAGR of 8.03% in the forecast period 2022-2027 owing to the friendly government policies which tend to provide significant growth in the Vietnamese consumer electronics market and helping country’s healthy economic growth.

OLED is the leading market in terms of technology with a share of 32.6% in 2021. According to Vietnam Automotive Manufacturers Association (VAMA), the new vehicle market surged by almost 59% to 29,036 units in March 2021 from 18,270 units in March 2020. This increasing production of automobiles is anticipated to drive the demand of various automotive displays solutions, further driving its market growth. In September 2021, LG Display chose Vietnam for their huge investment of 2021 of worth $1.4 billions to enhance the OLED module lines to elevated their production by 40%. The investment is expected to bump up OLED panel output at LG Display’s Vietnam factory in the northern port city of Haiphong to 13 million to 14 million units per month from current 9 million to 10 million units. Intel Corporation and Vietnam's Ministry of Education and Training joined forces to accelerate digital transformation in education in Vietnam. Under the terms of the agreement, Intel and local technology companies will make available 1 million affordable PCs to enhance the education sector. In July 2021, Samsung partnered with the International Agency for the Prevention of Blindness (IAPB) to create medical devices that screen for eye disease by upcycling Galaxy smartphones that are no longer of use. These developments is analysed to bring significant growth in the demand of smartphone displays for healthcare sector.

Central Vietnam is analyzed to grow at a highest CAGR of 8.32% during the forecast period 2021-2026 owing to the increase in the expansion of the electronics industry in this region. North Vietnam has dominated the market share with 43% in 2020, owing to the widespread use of signs and interactive displays for branding, marketing, and broadcasting by many sector verticals such as healthcare, education, sports, and entertainment. In February 2021, LG Display plans to expand manufacturing facilities of organic light-emitting diode displays (OLED) in Vietnam. It invest $750 million for its operations in the port city of Hai Phong in northern Vietnam near China. This will drive the market growth of Vietnam displays market in North Vietnam region. In August 2021, Vietnam has awarded a licence to South Korea's LG Display (034220.KS) that will see it raise its investment in the northern port city of Haiphong by $1.4 billion. In October 2019, The Golden State Warriors and Samsung have teamed together to install the NBA's largest centerhung LED scoreboard at Chase Center. With over 64 LED video screens, including the biggest center-hung video display, Chase Center, a sports and entertainment facility, delivered an outstanding fan experience.

With the outbreak of COVID-19 pandemic and its surge overtime, demand towards display based medical diagnosis equipment including patient monitors, surgical monitors, ventilators and many others have been eventually growing within the country. Various healthcare units or hospitals have been constantly showcasing increasing demand for COVID-19 treatment medical devices or equipment, thereby getting support from medical device manufacturers or industrial firms with no cost supplies. In March 2020, , idsMED Vietnam actively cooperated with Fujifilm, in order to sponsor a medical diagnostic equipment, named mobile FDR Nano X-ray machine for supporting Son Tay field hospital. Through this, an effective aid was to be provided during the diagnosis as well as treatment of diseases related to COVID-19, with enhanced image quality, increased efficiency, and others, alongside improving healthcare services within the hospital. In April 2020, a Vietnamese firm, Vingroup had revealed about its completion of manufacturing two invasive ventilators, namely VSmart VFS-410 and VFS-510, in response to COVID-19 pandemic, to be made available from May 15. These "made in Vietnam“ ventilators were developed with the strong support of ministries, agencies, health experts as well as the US-based Medtronic, while ensuring international quality standards alongside long-term value for use even after Covid-19 treatment period. In August 2021, HEINEKEN Vietnam had revealed about donating medical equipment, including 10 Trilogy EV300 ventilators and 24 Efficia CM120 patient monitors from Philips, as a part of its effort to help the medical facility specialized in treating severe COVID-19 patients, Ho Chi Minh City Hospital for Tropical Diseases. This move was meant to support Vietnam’s monumental efforts for reducing as well as managing severe health impacts during the most complicated COVID-19 outbreak within the country. Such factors have eventually helped in driving the market growth of displays within Vietnam healthcare industry and is also set to fuel the market growth forward.

With the constant need to improve teaching or training experiences along with shift towards online learning gradually within educational institutes, including schools, colleges or universities, there is significant adoption of interactive display boards to make learning experiences more interactive and beneficial. Additionally, utilization of interactive display screens within educational premises or corporate businesses have been gaining wide popularity in the Vietnamese markets overtime as a part of enhancing application areas including video conferencing, presentations, interactive picture based learning and many more. In November 2019, BNI Vietnam had revealed about the installation of Newline’s VN Series interactive displays (65” and 75”) within its ballroom, in order to overcome challenge of maintaining costly setups, low brightness as well as constant management of its outdated projector and interactive whiteboard. Through this deployment, presentations during meeting, training courses, along with all other company events became more engaging and interactive, thus facilitating intuitive annotation, while enabling smooth video conferences. As per the UNICEF Education COVID-19 case study, in October 2020, the Ministry of Education and Training, Vietnam together with UNICEF, had revealed its plans on accelerating the pre-pandemic efforts on digital transformation of education system, owing to shift towards online teacher training as well as learning platforms. With this move towards modernizing educational environment with digital learning advancements, the need for interactive displays or learning display screens can face a significant market growth within the country.

Due to outbreak of COVID-19 pandemic, country government have imposed stringent regulations like lockdowns leading to shutdown of production facilities of varied industry verticals including electronics, automotive and many others. This had led to substantial decline in manufacturing end use products, owing to supply chain disruptions, which requires display solutions be it modules, panels, materials and others, thus creating an adverse impact on its market growth. In March 2020, Samsung Display had revealed its plans on upgrading the Vietnamese production lines involved in flexible OLED display panels and modules used for smartphones. However, there were concerns regarding work disruptions due to entry of all foreign nationals being prohibited from the Vietnamese government from March 22 amidst the pandemic. In April 2020, one of the leading automakers, Nissan announced about shutting down operations at its Vietnam plant, owing to concerns regarding the coronavirus pandemic. This temporary suspension of production lines as a part of adhering to country's government as well as its directive of a shutdown, eventually halted the need for automotive components including display solutions. In May 2021, the Vietnamese Government had instructed Foxconn Technology Group and Luxshare Precision Industry Co. for temporary shutdown of the factories amidst the surge of coronavirus in the northern region. This move towards shutdown of factories have eventually created disruptions to the global supply chain, hampering the market growth for varied display screen modules or panels.

The Vietnam Display market is moderately consolidated with key players are adopting strategies such as acquisition, product launches and others with the players and companies prevalent in the market. The top companies present in the market include the below.