The industrial display system market is anticipated to surge at 6.8% CAGR, reaching USD 6.71 Bn during the forecast period (2017-2023), predicts Market Research Future (MRFR) in its extensive report. The report analyses that the industrial display system market is on an upward growth trajectory 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.
Industrial displays comprise an array of devices including computer monitors, televisions, instrument panels, aircraft cockpit displays, and others. These devices have various advanced features such as dust and moisture resistance, readability, improved impact resistance, durability, wide temperature range, improved contrast ratio, higher display brightness, and low-power consumption, making it appealing to large numbers of consumers globally. Technological developments of high definition display devices, high growth of LED-backlit LCD-based display solutions, progressing demand for human–machine interface (HMI) devices, and growing adoption of Internet of Things (IoT) drive the growth of the industrial display market.
However, high costs associated with acquisition and implementation of industrial displays undermine the growth of Industrial Display System 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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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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The industrial display system market 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.
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The industrial display system market is geographically segmented into Asia Pacific, North America, Europe, and Rest-of-the-World (RoW).
Among all regions, North America has been leading the industrial display system market due to technological advancements pertaining to clarity and resolution for the display screen. Moreover, rugged displays used for HMI applications and remote monitoring in the manufacturing sector also boosts the industrial display market growth in this region.
The Europe region is exhibiting a positive growth in the industrial display system market. Emergence of manufacturers of industrial display systems, product launches, and research and development activities by existing companies in Europe can create lucrative opportunities for the market in this region.
In the Asia Pacific region, countries like China, Japan, and South Korea have a fair share of this market. High demand for industrial display systems in manufacturing sectors drives the market growth in APAC region. Also, a considerable number of illustrious companies dealing with industrial displays based in APAC give way to the profitable market opportunities in this region.