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The industrial display market share is expected to increase by USD 3.20 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 10.09%.
This industrial display market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers industrial display market segmentation by type (panel mount monitors, open frame displays, rugged displays, marine displays, and other types) and geography (North America, APAC, Europe, South America, and the Middle East and Africa). The industrial display market report also offers information on several market vendors, including Advantech Co. Ltd., AU Optronics Corp., BOE Technology Group Co. Ltd., BOE Varitronix Ltd., Hannstar Display Corp., Japan Display Inc., LG Electronics Inc., LITEMAX, Maple Systems Inc., Panasonic Corp., Pepperl and Fuchs SE, Planar Systems Inc., Rockwell Automation Inc., Samsung Electronics, Schneider Electric SE, Sharp Corp., Siemens AG, TCL Electronics Holdings Ltd., and Winmate Inc. among others.
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The growing trend of BYOD is notably driving the industrial display market growth, although factors such as the complications related to resistive touchscreens may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the industrial display industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Industrial Display Market Driver
One of the key factors driving growth in the industrial display market is the growing trend of BYOD. The bring-your-own-devices (BYOD) policy involves the practice of allowing the employees in an organization to use their own computers, smartphones, or other devices for work-related purposes. After the outbreak of the COVID-19 pandemic in 2020, there has been a continuous rise in remote working worldwide, which is driving the convergence of existing BYOD trends and 5G network adoption into an IoT megatrend. These factors will propel the growth of the global industrial display market during the forecast period. Industrial professionals working in environments that are tough on phones, such as industrial plants or sites where phone breakages are common, who are compelled to decide on what mobile device to invest in, are now considering products that are designed to withstand rough treatment and harsh conditions. Therefore, with more people opting to buy such smartphones, the global industrial display market is expected to grow exponentially.
Key Industrial Display Market Trend
The increasing adoption of foldable and flexible displays is an industrial display market trend that is expected to have a positive impact in the coming years. There has been a significant increase in the demand for foldable and flexible displays in recent years, owing to their characteristic features, such as their lightweight, shatterproof nature, brightness, and higher flexibility, as well as their lower power consumption when compared to rigid traditional displays. The rising demand for consumer electronics, particularly smart wearable devices, computers, TVs, mobiles, and other display devices, is driving the growth of the global industrial display market. The increasing demand for foldable and flexible displays in the automotive sector is also helping industrial-grade displays gain traction, as the automotive sector is looking to integrate lightweight electronic components in automobiles to enhance their fuel efficiency. Such factors will propel the growth of the global industrial display market.
Key Industrial Display Market Challenge
The complications related to resistive touchscreens will be a major challenge for the industrial display market during the forecast period. There are two types of touchscreen technologies available in the global industrial display market, namely resistive and capacitive touchscreens. Resistive touchscreens suffer from two major drawbacks, Poor calibration: Correct calibration allows the touchscreen technology to sense where the screen is being touched so that it can register and convey the command to the screen's response. If the screen loses or does not have proper calibration, it will not be able to provide the correct response. Sometimes the screen will not even be able to detect the touch. This invalidates the device's purpose for consumers. To fix this problem, the screen must be recalibrated. Dirt and damage: As touchscreens mostly come into contact with fingers or other materials, which may be exposed to foreign matter (contaminants) like dust, grease, and dirt, they are prone to get scratched or damaged. The complications in resistive touchscreens can hamper the growth of the global industrial display market.
This industrial display market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global industrial display market as a part of the global electrical components and equipment market within the global electrical equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the industrial display market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the industrial display market encompasses successful business strategies deployed by the key vendors. The industrial display market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The industrial display market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the industrial display market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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44% of the market’s growth will originate from APAC during the forecast period. China, South Korea, and Japan are the key markets for industrial display in APAC. Market growth in this region will be faster than the growth of the market in other regions.
North America is another region showing major market growth. The US and Canada were the major contributors to the global industrial display market in North America in 2021 due to the adoption of the latest display technology and rising applications of industrial displays. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The COVID-19 pandemic severely affected most countries in North America, particularly the US and Canada, in 2020. However, the market started regaining momentum in H1 2021 due to the increasing demand for IoT devices and other handheld devices, the increasing adoption of industrial displays in commercial and military vehicles, and the rising demand for industrial displays to protect the display screens of devices that are deployed in external environments (such as shop digital signages) from harsh and changing weather conditions.
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The industrial display market share growth by the panel mount monitors segment will be significant during the forecast period. Market vendors are focusing on manufacturing cost-competitive products to reduce the cost of curved panel mount monitors, which provide high resolution and visual appeal to consumers. Panel mount monitors provide high display flexibility with organic layers, which are considered an ideal solution for digital signage applications. Therefore, the panel mount monitors segment of the global industrial display market is anticipated to witness high growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the industrial display market size and actionable market insights on post COVID-19 impact on each segment.
Industrial Display Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.09% |
Market growth 2022-2026 |
$ 3.20 billion |
Market structure |
Fragmented |
YoY growth (%) |
8.9 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 44% |
Key consumer countries |
US, China, Japan, South Korea, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Advantech Co. Ltd., AU Optronics Corp., BOE Technology Group Co. Ltd., BOE Varitronix Ltd., Hannstar Display Corp., Japan Display Inc., LG Electronics Inc., LITEMAX, Maple Systems Inc., Panasonic Corp., Pepperl and Fuchs SE, Planar Systems Inc., Rockwell Automation Inc., Samsung Electronics, Schneider Electric SE, Sharp Corp., Siemens AG, TCL Electronics Holdings Ltd., and Winmate Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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