Global Industrial Display Market Size, Share, Growth Analysis, By Technology (LCD, LED), By Enterprise Size(Small, Medium), By Organization size(Large Enterprises, SME’s), By Application(Marine, Oil & Gas), By Type(Rugged Displays, Open-Frame Monitors) - Industry Forecast 2022-2028

The Global Industrial Display market is segmented based on Technology, Organization size Enterprise Size, Application, Type, and Region. Based on Enterprise Size, the market is segmented into Small, Medium, and Large. Based on Technology, the market is segmented into LCD, LED, OLED, and Others. Based on Organization size, the market is segmented into Large Enterprises and SMEs. Based on Application, the market is segmented into Marine, Oil & Gas, Transportation, Healthcare, Manufacturing, Power, and Others. Based on Type, the market is segmented into Rugged Displays, Open-Frame Monitors, Panel-Mount Monitors, Marine Displays, And Video Walls. Based on region the global Industrial Display market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Analysis by Type

The panel-mount segment accounted for more than 37.1% of total revenue in 2021 and is anticipated to dominate the market during the forecast period. Its popularity is due to the device's wide range of applications, ease of availability, and low cost. Panel-mount industrial displays are primarily used for operational process control in manufacturing plants. Maritime displays are designed to withstand harsh aquatic ecosystems and are used on commercial and cargo ships, cruise ships, and yachts.

These industrial displays had the lowest revenue share in 2021. however, their market is expected to grow at a significant CAGR over the forecast period. Real-time sonar for ships, a driverless monitoring system for a port city substation, an Ethernet-integrated fighting framework for battleships and tank balancing systems, and ship motor monitoring systems are among the benefits of these displays. Rugged displays are particularly made to function reliably in harsh industrial environments such as extreme temperatures, vibrations, and wet and dusty conditions. Rail line control systems, armed services monitors, and task status boards in the industrial industry are among their applications.

North America held the largest global industrial display market share in 2021 and is expected to continue during the forecast period. The United States is a significant contributor to the region's Industrial Display market growth. North America is the largest regional market in the global Industrial Display market Increased use of digital signage and HMIs in North America is expected to generate new business opportunities over the forecast period. Furthermore, the growing popularity of industrial automation, rising investment in IoT applications, and multi-featured HMI devices may accelerate the use of industrial display capabilities in this market.

The United States is estimated to be the largest market for industrial displays in North America, with high demand coming from the monitoring system, HMI, and interactive visual applications. Furthermore, Southeast Asian countries such as India, Japan, and China are driving the expansion of industrial displays in the APAC region. The Asia Pacific is expected to grow the fastest during the forecast period. The region's demand for industrial displays is primarily driven by the electricity plants and manufacturing sectors. Furthermore, a few key manufacturers of these displays are based in the Asia Pacific region.

Driver

• Rising demand for HMI devices is fuelling the growth of the industrial display market.

The global market for industrial displays is expanding due to rising demand for human-machine interface (HMI) implementations in the process and manufacturing industries. Human Machine Interfaces (HMIs) and other displays can respond to changing production demands and carefully monitor production processes, reducing downtime and increasing workforce efficiency. This trend is causing the market to expand. Furthermore, the market is expanding due to the increasing demand for digital signage applications across industries. Furthermore, the market has expanded at a rapid pace in recent years as a result of the growing acceptance of LED and LCDs, as well as the widespread adoption of IoT-based technologies. The industrial display offers advantages such as cost-effectiveness, reliability, system stability, exceptional adaptability, speed, efficiency, portable technology, moderate usage, ease of installation, extensive product life expectancy, and fully customizable features, thereby positively impacting the market.

• Increasing performance of OLED & LCD to Support the growth

The display technology in use depends on the application, but most people are familiar with organic light-emitting diodes (OLED) and liquid crystal displays (LCD). These are made up of a front plane (the OLED or LCD component) and a backplane (an array of millions of thin-film transistors that turn on and off the individual display pixels). The color performance, contrast, and pixel size of the display are determined by the front plane and backplane combination used. There is currently a lot of interest in improving color performance because existing displays cannot produce all of the colors found in nature. New technologies, such as quantum dots and MicroLED, open up new possibilities, potentially allowing the development of displays that can produce every visible color. These factors are expected to accelerate the industrial display market over the forecast year.

Restraint

• High installation costs for industrial displays

As previously stated, the growing number of market participants across sectors has resulted in a fragmented market. Business owners invest heavily in digitization and automation to increase efficiency. For example, POS displays, a subset of industrial displays, are used to improve the branding, promotion, and marketing of a company's products and services to retain customers in today's highly fragmented market. However, not all market participants can implement such business automation and digitization. Due to the high costs of installing industrial displays, these market participants will be excluded from the consumption bracket. As a result, the high costs of installing industrial displays may stifle market growth.

• Use of low-quality industrial equipment

Industrial displays used in manufacturing facilities, fabrication sectors, and marine industries must withstand extreme heat, force, and other such phenomena. They are subjected to light, wind, air, and water, which can cause rusting or oxidation and shorten the equipment's lifespan. Some manufacturers' use of low-quality industrial equipment to reduce manufacturing costs of industrial displays results in regular machine replacement or repair. Reduced device lifespan and regular repair/replacement raise the cost for the manufacturing consumer, discouraging them from purchasing the displays. As a result, a few manufacturers' uses of low-quality industrial equipment may stymie the expansion of the industrial display market.

To enhance their competitive position in the global industrial display industry, key players are now focusing on implementing strategies such as adopting new technology, product innovations, mergers and acquisitions, joint ventures, alliances, and partnerships. For instance, Emerson introduced the RXi industrial display and panel PC portfolio with the goal of monitoring, visualizing, and improving day-to-day manufacturing operations. RXi industrial displays are compatible with Emerson's Programmable Automation Control (PAC), Programmable Logic Control (PLC), and third-party control systems.

The second instance is related to the acquisition of Jaco Display Solutions LLC, which manufactures and supplies touch panels, rugged LCDs, engineering services, optical bonding, and repair and replacement services by Video Display Corp.

Top Player's Company Profiles

• Samsung Electronics (South Korea)
• LG Display (South Korea)
• Sharp (Foxconn) (Japan)
• Japan Display (Japan)
• Innolux (Taiwan)
• NEC Corporation (Japan)
• Panasonic Corporation (Japan)
• Leyard Optoelectronic (Planar) (China)
• BOE Technology (China)
• AU Optronics (Taiwan)
• Sony (Japan)

Recent Development

• In September 2022, ViewSonic Corp, a visual solutions provider, introduced the TD2465 touch monitor, a 24-inch touchscreen for retail, industrial, and commercial environments. It has multi-touch modes that are sensitive to styluses, gloved fingers, and wet hands, and it works with the ViewSonic touch controller software to manage on-screen display settings without the use of physical buttons.
• In September 2022, TCL Introduces New High-Performance Models for its 2022 Premium TV Line-up. The company announced the cost and availability of its new premium models, which feature QLED and Mini-LED technology and the user-friendly Roku TVTM streaming platform.

• Recently, it has been discovered that slimmer large industrial displays outperform their larger counterparts in terms of effectiveness, pixel density, and space consumption, increasing their marketability. Even though slim-framed major manufacturing displays can better meet end users' quest for optimizing manufacturing capabilities, their adoption is expected to remain high in key industries such as automotive and transportation, and electrical and electronics. Large industrial displays, on the other hand, are likely to face a "battle of adoption" from the updated breakthrough technology, such as screen-less displays with 4k screen resolution and projectors. With the massive energy requirements of major manufacturing displays, ‘screen-less' displays will likely pose significant competition to both large and touchscreen displays.

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 robust Secondary Desk research.

According to our global industrial display market analysis, we found that LCD technology has been widely adopted for more than two decades and continues to dominate the market, accounting for more than 90% of screens sold today; TVs and monitors, notebooks, laptop and tablet screens, almost all rely on LCD technology. Despite evolving, becoming thinner and lighter, expanding to larger sizes, and offering significantly improved screen performance (including resolution, color, contrast, brightness, and refresh rate), their rigid glass-based construction limits the design of many new applications and products. Industrial Display spending is expected to rise steadily over the forecast period.