Industrial Display Market

According to Stratistics MRC, the Global Industrial Display Market is accounted for $5,273 million in 2022 and is expected to reach $8,602 million by 2028 growing at a CAGR of 8.5% during the forecast period. Industries use industrial displays to highlight ongoing operations and anticipated results. These displays are more important for the proper operation of the sector. As a result, the market is among the most notable in terms of growth. Digital signage, touch-screen panels, and outdoor displays are just a few of the industrial displays that are available in a variety of screen sizes for use in various industries. These displays have the ability to work with embedded systems and boards in order to satisfy a variety of industrial applications. These systems are typically used to display ongoing operations as well as anticipated outcomes in various industries.

According to recent surveys, most CFOs identify reducing direct/indirect costs as a top priority in the near future and say improving efficiency is a primary goal. Hence, the increase in the deployment of automated machinery, artificial intelligence will play a major role in boosting the market of industrial displays.



Market Dynamics:

Driver:

Increasing the emphasis on development and expansion

The major market players are primarily refocusing their attention on cutting-edge and novel industrial display products currently on the market and improving their production capabilities and features like improved contrast ratio, high resolution, readability, wide temperature range, rugged durability, higher display brightness, environmental stability, and low power consumption. These industrial display products are made in a way that would support adherence to strict regulations.

Restraint:

Initial installation costs for industrial displays are high

A fragmented market has been produced by the rising number of market participants across sectors. To increase a company's efficiency, a lot of money is spent on automation and digitization of the business. For instance, POS displays, a specialized type of industrial display, are utilized to improve company branding, promotion, and marketing of its goods and services in order to keep its clientele in the highly fragmented market. Not all market participants, however, are able to automate and digitize their businesses to this extent. These market participants won't be included in the consumption group due to the high installation costs for industrial displays. The market's expansion may therefore be hampered by the high cost of installing industrial displays.

Opportunity:

Increasing restrictions on the production and sale of industrial displays

Regulations governing the creation and sale of industrial displays vary by nation or region. Take, for instance, the RoHS law of the European Union, which restricts the use of hazardous substances in the production of industrial displays. Lead, mercury, cadmium, hexavalent chromium, and flame retardants, such as polybrominated biphenyls (PBB) or polybrominated diphenyl ethers (PBDE), were prohibited under this law from being used in electronic equipment.

Threat:

The use of subpar industrial machinery

Extreme temperatures, pressure, and other such conditions must be tolerated by the industrial displays used in the manufacturing, construction, and marine industries. They are subjected to sunlight, wind, air, and water, which may cause rusting or corrosion and shorten the equipment's lifespan. Some manufacturers reduce the production costs of industrial displays by using low-quality industrial equipment, which necessitates frequent machine replacement or repair. The industrial consumer is deterred from purchasing displays because of their shortened lifespan and frequent repair and replacement. Therefore, a few manufacturers' use of subpar industrial machinery could prevent the industrial display market from expanding.

Covid-19 Impact:

The industrial display market's growth has been severely constrained by the COVID-19 outbreak. The pace of new construction has slowed down globally, which has had a significant impact on the demand for industrial displays. The pandemic has made it difficult for factories all over the world to assemble and produce new devices. Furthermore, a number of warehouses cannot be used for industrial display due to strict regulations, which have disrupted supply and manufacturing units during the pandemic. Only the supply chain and production are stalled, so COVID-19's effects on this market are only temporary.

The panel-mount monitors segment is expected to be the largest during the forecast period

By 2021, the panel-mount monitors segment had the largest revenue share in the global industrial display market. The device's wide range of applications, accessibility, and affordability can be credited for its popularity. In manufacturing facilities, operational process control is the main application for panel-mount industrial displays. A panel, door, dashboard, or other surface can have a hole in it for mounting an LCD or touch screen.

The energy and power segment is expected to have the highest CAGR during the forecast period

The energy and power sectors are anticipated to grow as the industrial displays in the energy and power sectors display statistics on energy use and production in real-time, including electrical output, temperature, and pressure. Additionally, they can be used to control and monitor automated machinery such as power generation, distribution, and turbine systems. In the energy and power sectors, industrial displays can be used for process management, monitoring, communication, and safety. They can post safety guidelines, emergency procedures, and other important information to help workers stay safe in potentially hazardous energy and power situations.

Region with highest share:

In terms of revenue, North America accounted for the largest market share. The high revenue market share is attributed to growing investment in IIoT applications and multi-featured HMI devices. Over the forecast period, it is anticipated that the increasing use of digital signage and HMIs will create new opportunities for market expansion in the region. Additionally, the region was a pioneer in industrial automation, which is predicted to quickly increase demand for these displays. A significant market share increase for the U.S. is anticipated due to rising demand from HMI and remote monitoring applications.

Region with highest CAGR:

North America is expected to grow the fastest. In the United States and Canada, there is a sizable demand for industrial displays over the course of the forecast period. In addition, rising automation, rising workplace safety and productivity demands, and rising technology spending all contribute to the preference for using industrial displays. The demand for tough and dependable displays is anticipated to rise, particularly in the automotive and transportation sectors, as a result of the increasing adoption of automation and enhanced driver assistance systems.



Key players in the market

Some of the key players in Industrial Display market include Advantech Co., Ltd., AU Optronics Corporation, BOE Technology Group Co. , E Ink Holdings Inc., Hannstar Display Corp. , Hope Industrial system Inc. , Innolux Corporation, Japan Display, Inc., LG Display Co., Ltd., Maple Systems, INC., NEC Display Solutions, Panasonic Corp , Pepperl+Fuchs GmbH, Planar Systems, Inc., Rockwell Automation, Inc., Samsung Electronics Co., Ltd., Schneider Electric SE, Sharp NEC Display Solutions, Ltd., TCL Display Technology Holdings Limited , Universal Display Corp. and Varitronix International Limited.

Key Developments:

In June 2022, Winmate introduced the M140TG 14-inch, an extremely rugged tablet developed to provide field customer connectivity and mobility. The new Rugged Extreme tablet delivers advanced processors and various connectivity choices in light, compact devices. Additionally, M140TG is designed for mobile workforces, integrating functionality, ruggedness, and mobility to form a dependable yet adaptable tablet that matches diverse situations and threats.

In June 2022, Samsung introduced Smart Monitor M8, a 32-inch display. The new Monitor M8 desire to produce a display that fits the matured lifestyle and design preference of Gen Z and millennial customers as they frequently look for a one-stop solution to learn, work, and play. Additionally, the smart monitor would be public in sunset pink and spring green colors.

In June 2022, Samsung Display acquired Cynora, and innovates refined OLED. Through this acquisition, Samsung South Korean firm bought Cynora's proprietary technology on organic light-emitting diode (OLED) panels used in foldable Smartphones.

Types Covered:
• Rugged Displays
• Open Frame Monitors
• Multi-Touch Display
• Front Display
• USB Type-C Display
• SDI Display
• Rear Mount Display
• Panel Mount Monitors
• Marine Displays
• Video Walls
• Other Types

Panel Sizes Covered:
• Upto 14 Inches
• 14 Inches to 21 Inches
• 21 to 40 Inches
• 40 Inches and above
• Other Panel Sizes

Technologies Covered:
• LCD
• LED
• OLED
• E-Paper Display
• Other Technologies

Sizes Covered:
• Small
• Medium
• Large

Applications Covered:
• Serial
• Ethernet
• Mobile Network
• Industrial Communication
• RF/Zigbee/IR
• Jason/MQTT
• HMI
• Remote Monitoring
• Interactive Display
• Digital Signage
• Imaging
• Other Applications

End Users Covered:
• Manufacturing
• Energy & Power
• Military & Avionics
• Oil & Gas
• Metals & Mining
• Healthcare
• Automotive and Aerospace
• Retail
• BFSI
• Industrial
• Government
• Chemical
• Marine
• Power
• Transportation
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances