Industrial Display Market: An Insight On the Important Factors and Trends Influencing the Market
Increasing adoption of IoT-based technologies is a crucial factor fuelling the need for industrial display, which helps reach out to the target consumer and leads to better brand awareness compared to conventional practices. Rise in demand for high specification display devices is expected to propel the demand for industrial display market over the forecast period. Implementation of the high cost of its implementation, however, is expected to restrain the industrial display market over the forecast period.
Technological developments in text clarity, brightness and environmental insulation for industrial display is likely to fuel the demand for this market. The evolution of the power and energy sectors are predicted to play a key role in the expansion of the industrial display market over the forecast period. The market in Asia Pacific is projected to expand over the next few years.
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The industrial display market is segregated by type into the following categories: open frame monitors, rugged displays, panel mount monitors, video walls, and marine displays. Panel mount monitors held a major market share in 2016 and are estimated to retain their dominance over the forecast period, driven by the escalated demand for interactive displays, HMIs, and digital signage applications in the energy & power, manufacturing, and oil & gas sectors. On the basis of technology, the industrial display market is segmented into the LED, OLED, LCD, and e-paper divisions.
OLED is expected to register a considerable growth rate as it is relatively a new technology that finds various applications such as HMIs, industrial monitors, and portable devices. LCD constituted a major market share in 2016 and is likely to retain its dominance at the end of the forecast period. Based on application, the industrial display market is divided into the following segments: energy & power, oil & gas, transportation & automation, manufacturing, and others. Power & energy is anticipated to develop rapidly over the forecast period.
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Geographically, the industrial display market is distributed over North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America accounted for the dominant market share in 2016 and is projected to retain its position over the forecast period. This region is generating a considerable demand for remote monitoring, HMIs, and interactive display applications, considerably propelling the industrial display market in this region. Global vendors of industrial monitors, display technologies, HMIs, and other semiconductor components are based in North America. The U.S. is predicted to be a major market in North America.
The power & energy and manufacturing sectors and the presence of developing economies such as China, India, and South Korea have motivated the industrial display market in Asia Pacific. Small and medium scale enterprises for industrial display market is likely to drive the growth prospects for the market in this region. Latin America is expected to emerge as a potential market for industrial display by the end of the forecast period. Brazil held for a significant market share for the industrial display market in this region.
Key players in the industrial display market include General Electric, LG Display Co., Ltd., Planar Systems, Inc., Panasonic Corporation, Samsung Display Co. Ltd., NEC Display Solutions, Sharp Corp., BOE Technology Group Co, Varitronix International Limited, TCL Display Technology Holdings Limited, and Advanced Co. Ltd., among others.
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