Findings from a new report by MarketsandMarkets titled, “Low Power Next-Generation Display Market (2009 - 2014),” notes the global display market is estimated to hit a Compound Annual Growth Rate or, CAGR, of 20 percent over the next half a decade, which in turn should result in revenues of nearly $ 17 billion by the end of 2014.

As part of the research, analysts at the firm said that Asian markets will account for more than $ 7 billion by 2014, which works out to nearly 42 percent of the total revenues.

The single significant driving force for greener and lower power consuming display systems is to minimize the impact on the environment by emissions from electric power generation plants.

The report claims that 2D LED displays is the largest segment in the next generation display market, and is projected to generate revenues of nearly $ 8.5 billion by end 2014 at a CAGR of 11.5 percent, and again the prime reason is that these displays consume very low power when compared with all other displays, and are therefore encouraged by ‘Green’ conscious governments, institutions and companies.

MarketsandsMarket claims that the LED display products are also popular because they can be used in almost any scenario such as industrial, advertisement and public information, entertainment and consumer electronics. Additional revenue streams from this segment accrue from TV models that use LED Backlighting because it permits the TV to be 1 inch slim and enhances picture quality, and many laptop models use LED backlit displays to drive down power requirements.

The touch screen display market is also projected to reach $ 2.3 billion by end 2014. Touch screens are rapidly becoming the preferred displays for smartphones, and one market survey unearthed that the sales of touch screen hand held mobile devices have significantly increased by 56 percent Year over Year in the first quarter of 2009 (Q109) when compared with Q408, and currently accounts for 38 percent of mobile sales.

With other handset sales struggling to grow substantially, companies are ramping up their marketing strategy for selling smartphones. This, coupled with a reasonable consumer acceptance in Q408, augurs well for the future of smartphones.

MarketsandsMarket officials said the study revealed that low labor cost and early initiatives have made Asia the dominant player in the next-generation display market. It is projected that by the end of 2009, Asia will have 52 percent of the global market share with revenues of totalling $ 3.7 billion.

Analysts claim Europe will be the second biggest market for next generation displays, and since the U.S. and Europe together have a huge consumer base, vendors, component manufacturers and associated service providers can easily leverage major business opportunities in this region.