Market Scenario
According to Market Research Future (MRFR), the industrial display system market will grow at a 6.8% compound annual growth rate (CAGR) from 2017 to 2023, reaching USD 6.71 billion. Due to its flexible and comprehensive solutions of display devices such as light-emitting diode (LED), liquid crystal display (LCD), organic light-emitting diode (OLED), l laser phosphor display (LPD), and many others, the Global Industrial Display System Market is on an upward growth trajectory, according to the report.
Computer monitors, televisions, instrument panels, aircraft cockpit displays, and other devices are examples of industrial displays. These devices have a variety of advanced features, including dust and moisture resistance, readability, improved impact resistance, durability, a wide temperature range, improved contrast ratio, higher display brightness, and low power consumption, making them appealing to a wide range of consumers worldwide. The industrial display market is developing due to technological advancements in high definition display devices, rapid expansion of LED-backlit LCD-based display solutions, increasing demand for human–machine interface (HMI) devices, and increasing use of the Internet of Things (IoT).
However, high costs associated with acquisition and implementation of industrial displays undermine the growth of industrial display market. On the other hand, increasing consumer demand for high-specification display solutions is likely to pave the way for the industrial display market to flourish worldwide.
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Market Segmentation
The Industrial Display System Market share has been segmented on the basis of display type, technology, application, and end-user.
By display type, the industrial display system market is segmented into flat panel, flexible, and transparent. The high demand for higher resolution and larger displays for mobile phones boosts the popularity of flat panel display systems. Also, high growth in consumer electronics consumption, augmenting technological advancements in high-quality displays, and decrease in display prices make the flat panel segment highly favorable globally.
By technology, the market is segmented into LED-backlit LCD, OLED, quantum dot LED, laser phosphor display (LPD), and interferometry modulator display (IMOD).
On the basis of application, the market is segmented into smartphone & tablet, TV & digital signage, E-readers, gaming consoles, vehicle and public transport, and others. The smartphone and tablet segment has been experiencing immense growth due to increasing use of water-resistance technology, and increasing consumer demands for human-centric functions along with gesture recognition. Industrial display system end-users are consumer electronics, automotive, aerospace, government and defense, retail, and healthcare.
Regional Analysis
The industrial display system market is geographically segmented into Asia Pacific, North America, Europe, and Rest-of-the-World (RoW).
North America has been leading the industrial display system market across all regions due to technological developments in display screen clarity and resolution. Rugged displays for HMI applications and remote monitoring in the manufacturing sector also contribute to the region's industrial display market growth.
The market for industrial display systems in Europe is growing at a healthy pace. The emergence of manufacturers of industrial display systems, as well as product launches and R&D activity by existing firms in Europe, can provide profitable potential for the market in this area.
Countries like China, Japan, and South Korea have a large share of this industry in the Asia Pacific area. The APAC region's market is growing due to a high demand for industrial display systems in the manufacturing sector. A significant number of prestigious organizations working with industrial displays are also headquartered in APAC, which opens up lucrative market potential in this region.
Competitive Dashboard
The key players in the industrial display system market are LG Display Co., Ltd. (South Korea), Samsung Electronics Co., Ltd. (South Korea), TCL Display Technology Holdings Limited (Hong Kong), Universal Display Corp. (U.S.), and E Ink Holdings Inc. (Taiwan), and others.
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About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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