The Industrial Display by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Industrial Display, The industrial display market size has grown strongly in recent years. It will grow from $5.34 billion in 2023 to $5.73 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to industrial automation, rising demand in manufacturing, government initiatives, globalization of industries, increased focus on user interface (ui) design, cost reduction and increased affordability.
The industrial display market size is expected to see strong growth in the next few years. It will grow to $7.55 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to increasing emphasis on augmented reality (ar) and virtual reality (vr), energy efficiency and sustainability, cybersecurity concerns, customization and modular display solutions, rapid growth in emerging markets. Major trends in the forecast period include industry 4.0 integration, demand for high-resolution displays, increased use of touchscreen technology, focus on robust and durable designs, adoption of led backlit displays.
The rising adoption of IoT-based devices is expected to propel the growth of the industrial display market going forward. The internet of things (IoT) is a networked system of interconnected computing devices, that connects with unique identities (UIDs) and sends data over a network without the need for human-to-human or human-to-computer contact. IoT devices generate and collect massive amounts of data that need to be visualized and analyzed in real-time, and industrial displays provide the necessary interface for this task. Moreover, IoT devices require displays that are durable, reliable, and offer high visibility even in harsh environments. For instance, in November 2022, according to a report published by Ericsson, a Sweden-based networking and telecommunications company, in 2022, there were 13.2 billion active IoT device connections, which are predicted to increase to 34.7 billion active IoT device connections by 2028, with an annual growth rate of 18%. Therefore, the rising adoption of IoT-based devices is driving the industrial display market.
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The industrial display market covered in this report is segmented –
1) By Type: Rugged Displays, Open-frame Monitors, Panel-Mount Monitors, Marine Displays, Video Walls
2) By Technology: Liquid Crystal Display(LCD), Light-Emitting Diode(LED), Organic Light-Emitting Diode(OLED), E-paper
3) By Panel Size: Up to 14”, 14-21”, 21-40”, 40” And above
4) By Application: Human-Machine Interface (HMI), Remote Monitoring, Interactive Display, Digital Signage, Imaging
5) By End-User: Manufacturing, Mining And Metals, Oil And Gas, Energy And Power, Transportation
Product innovations are a key trend gaining popularity in the industrial display market. Major companies operating in the industrial display market are focused on developing innovative solutions to strengthen their position in the market. For instance, in March 2022, Advantech Co. Ltd, a Taiwan-based firm that provides unique embedded and automation products and solutions, released the PPC-115W and PPC-112W RISC-based android panel PCs aimed at industrial digitalization. The device has a 15.6” (HD or FHD) and 11.6” panel display, respectively, with multi-touch P-CAP control and a dual-core ARM Cortex-A72 and quad-core Cortex-A5 CPU. The product’s unique characteristic is that it comes with an Android 10 operating system and built-in WISE-IoTSuite/AppHub remote management.
The industrial display market report table of contents includes:
1. Executive Summary
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