The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
“Medical displays to witness a higher CAGR during the forecast period.”
The global commercial touch display market size was valued at USD 4.3 billion in 2020 and is projected to reach USD 7.6 billion by 2025. It is expected to grow at a CAGR of 12.1% during the forecast period. High adoption of touchscreen displays in retail, hospitality, healthcare, and transportation verticals, dynamic nature of touchscreen displays leads to enhanced customer experience, and rapid adoption of technologically advanced, energy-efficient, attractive, and high-end-specification display products are the key driving factors for the commercial touch display market. However, high costs incurred for customization of touch display devices and adverse impact of COVID-19 hampering the growth of the market.
“Retail, Hospitality, and BFSI industry to account the largest share during 2020–2025.”
The retail, hospitality, and BFSI industry is expected to continue to hold the largest share of the market for commercial touch displays. These displays are increasingly being adopted in retail stores to provide product information and buyers can purchase these products without visiting a retail store.They also provide in-store product information and promotional displays of products and services to attract customers. These activities help improve the brand loyalty of customers as the products are easily available with complete information. These displays can create a number of interesting customer engagement activities, such as handy product tutorials and virtual wardrobes where customers can see themselves in the clothes.The growth of the commercial touch display market for the banking sector is attributed to the ability of these displays to be cost-effective solutions, reducing manual tasks and minimizing human errors to ensure fast and seamless performance. They are remote banking channels providing extra convenience to customers and saving service costs for banks. Touch displays are also adopted in the hospitality sector by hotels, resorts, restaurants, casinos, and cruise ships to enhance the experience of customers. In restaurants and hotels, touch displays are used in digital signage solutions, such as touch screen monitors, that enable reliable and accurate order entry with human interface.
“4K resolution to witness the highest CAGR during the forecast period.”
The market for display screens with a resolution of 4K are expected to grow at the highest CAGR owing to their features of higher frame rates and better color replication that render true-to-life pictures.4K displays have a great market opportunity in the near future as they are primarily used in outdoor applications. 4K technology offers over 4 times higher image definition than 1080p resolutions. The flexibility to zoom and record in higher resolution formats is one of the major advantages offered by 4K. 4K resolution offers a much clearer, an impressive image due to the greatly increased number of pixels. Moreover, 4K touch displays are likely to witness a high demand in the near future as many end-user industries, including sports and entertainment, education, transportation, and retail, and corporate have already started using display products based on 4K resolution.
“APAC to record the highest growth rate in commercial touch display market during the forecast period”
APAC is the leading region in terms of production of the commercial touch displays.The region has witnessed significant advancements in the display device market, along with the rapid adoption of new technologies including OLED and quantum dots. APAC is an attractive market for the manufacturers of monitors, open frame touch screen displays, and signage displays, with major companies such as Samsung and LG Display being based in South Korea, and Sharp, Panasonic, and a few others being based in Japan. APAC is expected to register the highest growth rate in the market during the forecast period. However, North America and Europe are expected to be highly impacted by the COVID-19 outbreak because of its high dependency on China as a major chip and equipment supplier for the commercial touch display industry.
In-depth interviews have been conducted with chief executive officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the commercial touch display marketplace.
- By Company Type: Tier 1 - 56%, Tier 2 – 23%, and Tier 3 - 21%
- By Designation: C-Level Executives - 75% and Managers - 25%
- By Region: North America - 40%, Europe - 23%, APAC - 26%, and RoW - 11%
The commercial touch display market comprises major players such as Samsung Electronics (South Korea), Leyard Optoelectronics (Planar) (China), LG Electronics (South Korea), Innolux Corporation (Taiwan), BOE Technology (China), Sharp (Foxconn) (Japan), NEC Corporation (Japan), Qisda Corp. (Taiwan), AU Optronics (Taiwan), and Panasonic (Japan).
The study includes an in-depth competitive analysis of these key players in the commercial touch display market, with their company profiles, recent developments, and key market strategies.
The report defines, describes, and forecasts the commercial touch display market based on product, aspect ratio, touch technology, application, resolution, size, industry, and geography. It provides detailed information regarding factors such as drivers, restraints, opportunities, and challenges influencing the growth of the commercial touch display market. It also analyzes competitive developments such as product launches, acquisitions, expansions, contracts, partnerships, and developments carried out by the key players to grow in the market.
Key Benefits of Buying the Report
The report will help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall commercial touch display market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.