Taiwan's PIDA (Photonics Industry & Technology Development Association) forecast that shipment value of the Taiwanese TFT-LCD (Thin Film Transistor Liquid Crystal Display) panel industry is expected to inch up 3% year-on-year to reach around US$1,400 billion (US$44.2 billion; US$1=NT$31.65) in 2015, reported United Evening News on January 2015. The growth momentum is anticipated to come mainly from demand for higher resolution panels, introduction of new panel technologies and materials, prevalence of embedded touch panels, and a boom in smart mobile devices. In 2014, the industry's shipment value fell 5% year-on-year to NT$1,360 billion (US$43.0 billion).