Market Size of Thin Film Transistor Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 17.34 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Thin Film Transistor Market Analysis
The thin-film transistor market is expected to register a CAGR of 17.34% over the forecast period (2021 - 2026). Thin-film transistors (TFTs) are critical elements used for thin film electronics, and their most important application includes the pixel switching elements on flat panel displays (FPDs). A thin film transistor is also known as matrix display technology, which is more responsive to change.
- The thin film transistors are expected to have a higher growth rate in the forecast period due to features such as low price, increasing demand of compact size, low power consumption displays, reduced weight and in consumer electronic goods and rising disposable incomes. Due to the continuous innovation in technology, there is an increase in the demand for thin film transistor displays.
- Less availability of high-resolution TFTs for professional applications and high cost of manufacturing are some of the factors responsible for hindering the growth of the market. The market has various opportunities in the field of robotics, flexible electronics, and medical science. The excellent growth potential in emerging economies is also expected to drive the market.
- TFT technology is investigated for use in microelectronic devices, X-ray detection, biochemical sensing, and chemical sensing. The technology offers advantages such as low power consumption, low cost, better response time, and faster refresh rate. Most of the companies are in the process to develop organic TFT technology, which makes it possible to have flexible display surfaces.
