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What are Key Factors Causing Boom of Interactive Display Market?
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In the coming years, the increasing focus of education, retail, sports, entertainment, industrial, transportation, hospitality and healthcare, corporate and government, military and defense, and banking, financial services, and insurance (BFSI) firms on resource saving will also aid the interactive display market in progressing at a CAGR of 10.4% during 2019–2024. According to P&S Intelligence, the market was valued at $9.2 billion in 2018, and it is expected to generate $16.4 billion in 2024. The usage of interactive displays in retail environments, hotels, conference centers, schools, museums, and sports events helps in improving the turnaround time and offering ease of access.
In recent years, the education sector has emerged as the most-prominent user of interactive displays due to the soaring number of government initiatives supporting smart learning programs in academic institutions. For example, the 'Education 2020' strategy of the Ministry of Education of the U.A.E. aims to incorporate digital experiences in the educational system of the country. Taking inspiration from such strategies, local governments are consistently focusing on the creation of an academic environment that combines visual aids and interactive teaching methods and products to enhance the learning experience for students, as well as teachers.
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Currently, companies such as LG Electronics Inc., ELO Touch Solutions Inc., NEC Corporation, Koninklijke Philips N.V., Panasonic Corporation, Seiko Epson Corporation, Sharp Corporation, and Crystal Display Systems Ltd. are offering interactive kiosks, interactive whiteboards, interactive tables, interactive monitors, interactive video walls, and interactive flat panels. At present, interactive kiosks are being preferred over other displays due to the burgeoning demand for self-service terminals, flourishing retail industry, and mounting focus of end users on an enhanced customer experience.
Thus, the increasing adoption of flexible LED displays and escalating focus of end users on resource conservation will augment the usage of interactive displays worldwide.
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P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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