“Technological developments in brightness, text clarity, and environmental insulation for displays are fueling the growth of the industrial display market”
The industrial display market is expected to grow at a CAGR of 6.18% between 2017 and 2022, to reach USD 5.87 billion by 2022 from USD 4.09 billion in 2016. The industrial display devices come with various advance features such as improved impact resistance, durability, dust and moisture resistance, readability, wide temperature range, improved contrast ratio, higher display brightness, and low-power consumption. Technological shift and development of high specification display devices, high growth of LED-backlit LCD-based display solutions, rising demand for HMI devices, and growing adoption of IoT are the factors driving the growth of the industrial display market. However, high costs pertaining to the acquisition and implementation of industrial displays poses a restraining factor for the growth of industrial display market.
“Market for open frame monitors to grow at the highest rate during the forecast period”
The market for open frame monitor is expected to grow at the highest rate. These displays are used in wide variety of industrial and commercial applications such as kiosks, signage, industrial equipment, aviation simulators, and control panels/keypad applications. These displays are available in various sizes 7"’, 10", 19", 21", and others. As these displays can be customized, they provide design flexibility for plant operators.
“LCD technology has the largest market share in industrial display”
LCD technology is expected to hold the largest share of the industrial display market during the forecast period. LCD-based industrial displays are widely used in industrial PCs, tablets, signage, desktop monitors, and even in some video walls. These displays have comparatively lower acquisition costs, excellent picture quality, operating life, and can be deployed for indoor and outdoor applications.
“North America and APAC are the major markets for industrial display”
North America is expected to hold the largest share of the industrial display market during the forecast period, while the market in APAC is expected to grow at the highest rate during the same period. The US was estimated to be the largest market in North America for industrial displays generating high demand from HMI, remote monitoring, and interactive display applications. China, Japan, India, South Korea and some of the South East Asian countries are driving the growth of the industrial display market in APAC. The manufacturing and power generation sectors are playing a major role in driving the demand for industrial displays in APAC. Also, a significant number of prominent companies offering industrial displays are based in APAC.
In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews have been conducted with key people in the display industry.
The break-up of primary participants for the report has been shown below:
- By Company Type: Tier 1 = 26%, Tier 2 = 32%, and Tier 3 = 42%
- By Designation: C-Level Executives = 52%, Directors = 23%, and Managers = 25%
- By Region: North America = 44%, Europe = 29%, APAC = 23%, and RoW = 4%
The report also profiles the key players in the industrial display market and analyzes their market ranking. The prominent players profiled in this report are Samsung Display Co., Ltd. (South Korea), LG Display Co., Ltd. (South Korea), Panasonic Corporation (Japan), Advantech Co., Ltd. (Taiwan), and NEC Display Solutions (Japan), among others.
This research report categorizes the industrial display market on the basis of type, technology, panel size, application, vertical, and geography. The report provides the market dynamics that includes description of major drivers, restraints, opportunities, and challenges pertaining to the market, value chain analysis, and market ranking analysis.
Reasons To Buy the Report
The report will help leaders/new entrants in this market in the following ways:
- This report segments the industrial display market comprehensively and provides the closest market size estimation for all subsegments across different regions.
- The report helps stakeholders understand the pulse of the market and provides them with the information on key drivers, restraints, opportunities, and challenges for market growth.
- This report is expected to help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, product launches and developments, partnerships, and mergers & acquisitions.