USD 39.94 billion
Report ID: SQMIG25AD2003 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 179 | Figures: 79
Commercial Display Market size was valued at USD 39.94 billion in 2021 and is poised to grow from USD 43.25 billion in 2022 to USD 81.78 billion by 2030, growing at a CAGR of 8.28% in the forecast period (2023-2030).
Rapid urbanization is fueling the expansion of the commercial sector in developing nations, due to advancements in infrastructure and changing lifestyles. Retail and hospitality industries are utilizing cutting-edge, digitized promotional tactics to effectively and impactfully sell their products and services. As a result, demand for commercial displays is rising significantly and is expected to rise more throughout the projection period. Furthermore, the increasing demand for 4K and 8K commercial displays coupled with technologies such as AI upscaling, artificial intelligence, and machine learning is likely to drive commercial display market expansion.
Currently, the advertising sector is seeing a surge in the development of ultra-HD material, as opposed to earlier when the machines used to produce UHD content served limited uses and were expensive, such as 4K TVs. Advertisers' increasing development of UHD content for various advertising applications is driving demand for 4K and 8K commercial display devices. Furthermore, manufacturers' huge investments in the creation of high-end-specification goods with enhanced energy efficiency are expected to boost market expansion.
US Commercial Display Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 39.94 billion
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Global Commercial Display market is segmented based on product type, technology type, component, device type, size, application, and region. Based on the product type, the commercial display market is segmented into digital signage, display monitor, display TVs. Based on the technology type, the market is segmented into LCD, LED, others. Based on the component, the market is segmented into hardware, software, services. Based on the device type, the commercial display market is segmented into flat panel, curved panel, and other panel. Based on the size, the market is segmented into below 32 inches, 32 to 52 inches, 52 to 75 inches, above 75 inches. Based on the application, the commercial display market is segmented into retail, hospitality, entertainment, stadiums & playgrounds, corporate, banking, healthcare, education, transportation, others. Based on the region it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Commercial Display Market Analysis by Application
Based on the application, the market is segmented into retail, hospitality, entertainment, stadiums & playgrounds, corporate, banking, healthcare, education, transportation, others. In 2022, the retail sector held the biggest market share. It is the most important industry that requires digital advertisements for marketing and promoting products and services. Retailers are taking a more modern approach to advertising. As a result, commercial-grade TVs and digital signage are in high demand.
The hospitality category is another significant contributor to market growth, owing to the increasing number of hotels, motels, restaurants, QSRs, cafes, and bars. Such facilities necessitate a plethora of display solutions for a variety of applications such as advertising, menu and food display, and entertainment. Over the next six years, the segment is expected to increase steadily.
Because of the development of the transportation industry in China, India, and the Philippines, the transportation sector is predicted to emerge as the fastest-growing application area over the forecast period. Commercial displays are used for advertising in the transportation sector at locations such as airports, railway stations, metro stations, and bus stops. Advertisers are also extensively using digital screens on bus, cabs, trains, and trams.
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In 2022, North America is expected to have the biggest share of the commercial display market. The increased penetration of supermarkets/hypermarkets, hotels, restaurants, shopping malls, and other commercial units in North America has considerably contributed to the expansion of the worldwide commercial display market. Furthermore, greater adoption of digital technology for product and service advertisement and promotion in North America has resulted in this region's dominance in the global market. During the projected period, Asia Pacific is expected to be the most opportune segment.
Rapid industrialization and rapid urbanization, together with the increasing penetration of multiple commercial units in the region, are likely to promote the region's adoption of commercial displays in the future years.
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Commercial Display Market Driver
Growing Need for Digitization to Boost the Market Growth
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The commercial display market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.
Commercial Display Market Top Player’s Company Profiles
Commercial Display Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, Global Commercial Display market is segmented based on product type, technology type, component, device type, size, application, and region. Based on the product type, digital signage segment is projected to hold the most substantial market share. Based on the technology type, LED segment is projected to hold the most substantial market share. Based on the component, hardware segment is projected to hold the most substantial market share. Based on the device type, flat panel segment is projected to hold the most substantial market share. Based on the size, 32 to 52 inches segment is projected to hold the most substantial market share. Based on the application, retail segment is projected to hold the most substantial market share. Based on the region, Asia-Pacific region is projected to hold the most substantial market share.
|Market size value in 2021
|USD 39.94 billion
|Market size value in 2030
|USD 81.78 billion
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Commercial Display Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Commercial Display Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Commercial Display Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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