"It's likely that part of the thinner/lighter design will be reducing the size of the LED backlight, partly by making the display more efficient and partly by using more efficient LEDs," said Paul Semenza, an analyst at NPD DisplaySearch. "The other significant change that we feel is likely is a shift to a film-based touch sensor."
Apple has been long rumored to be considering a different display technology; however, it's unclear if or when that might materialize.
"It is not yet clear if there will be a big change to the display -- such as using IGZO," said Semenza.
Just yesterday an alleged photo of iPad 5 bezel with thinner sides was leaked online. It's said that volume production of the next generation 9.7-inch iPad will begin in July/August.