Research and Markets has announced the addition of the "Global LCD Backlight Unit Market 2012-2016" report to their offering.
TechNavio's analysts forecast the Global LCD Backlight Unit market to grow at a CAGR of 3.52 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing popularity of flat panel displays. The Global LCD Backlight Unit market has also been witnessing increasing technological innovations. However, weak demand for LCDs could pose a challenge to the growth of this market.
Commenting on the report, an analyst from TechNavio's Hardware team said: ''One of the stringent regulations imposed by the governments of some countries is the termination of all analog display broadcasts. For instance, one of the mandates of governments in some developing countries is that every television should have a set top box. This has been driving the adoption of digital displays. Digitization is also one of the major factors driving the demand for 3D LCD displays, and in turn the growth of the Global LCD Backlight Unit market. This factor is expected to have a significant positive impact on the growth of the market.''
According to the report, the increase in applications of LCDs is one of the major drivers in the Global LCD Backlight Unit market. Apart from the existing variety of applications of LCD flat panel displays, several new types of applications are being discovered for LCDs every year. The LCDs which were previously used mainly for the entertainment industry are currently being used in various other areas such as in the Education sector, the Automotive industry, and the Advertising industry. Additionally, there are further applications of LCDs such as outdoor displays, indoor displays, driver assistance systems, and automobile display mediums, which is driving growth of the Global LCD Backlight Unit market.
Further, the report discusses that the falling profit margins due to high inventory levels constitute one of the major challenges in the Global LCD Backlight Unit market.