What’s Driving the Display Market Growth? | Key Players 3M, Advantech, Diebold Nixdorf, Epson America Inc., Fujitsu Global, Ingenico Group, NCR Corporation, NEC Corporation, Samsung Electronics, Toshiba
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Reducing cost of components has resulted in the declining costs of these devices. With the lowering costs, the end users are widely adopting the solutions with technologically-advanced components. The manufacturers of solutions, such as ATMs and POS, are reducing the total cost of ownership of these devices and preferring the use of low-cost components without compromising on the quality. The declining cost of raw materials is expected to accelerate the growth of display market.
The key players covered in this study: -
• Diebold Nixdorf
• Epson America Inc.
• Fujitsu Global
• Ingenico Group
• LS Retail - POS and business management software solutions
• NCR Corporation
• NEC Corporation
• PAX Technology
• Samsung Electronics
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Rapid technological advancements, such as multi-touch LCDs and surface acoustic wave technology, are increasing the rate of obsolescence of products. The products with older technologies fade out quickly and manufacturers find it difficult to provide services for such products. This bodes well for the display market growth; however, decreases the profitability of the OEMs as these companies need to implement the technologically-advanced devices in the systems.
The display market in kiosk applications is expected to grow significantly owing to the rapid adoption of kiosks in applications such as ticketing, self-checkout, and ordering food. Large retailers in countries such as the U.S., the UK, Australia, and Germany are increasingly adopting the self-checkout kiosks to enhance efficiency, save customer time, and improve operational profits. The trend of self-checkout kiosks is penetrating in other retail segments such as departmental stores, small convenience stores, and specialty retailers. Ease-of-use and swiftness of operations are the key factors driving the demand for self-checkout kiosks. This is projected to propel the industry growth in kiosk applications over the forecast timespan.
Asia Pacific to be one of the significant regions witnessing high adoption of display technology in retail, entertainment, healthcare, and hospitality sectors. The growing need to upgrade and replace the existing old machines especially in the countries such as China, India, and South Korea is fueling the display market growth in Asia Pacific belt. Add to it, the initiatives such as demonetization and digitization that have been undertaken by the Indian government are expected to further fortify display industry share.
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Given the fact that display technologies will witness extensive adoption on global level, it goes without saying that these systems will remain prominent part of modern-day infrastructure projects. All in all, driven by growing participation of tech giants investing in this technology, the display market growth is all poised to traverse along a profitable roadmap in the coming years.
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