Commercial Display Market– Statistics And Analysis & Forecast To 2025
Posted by Mrudula Anil Karmarkar on March 11th, 2021
The global commercial display market size is estimated to reach USD 57,907.09 million by 2025, growing at a CAGR of 7.07% over the forecast period, according to the new report by Grand View Research, Inc. The global shipments of commercial-grade TVs are anticipated to exceed 25 million units by 2025. The growing adoption of the state-of-the-art display technology by developing nations of the Asia Pacific region is expected to spur the demand for commercial displays.
The ongoing COVID-19 outbreak has adversely affected the display industry with manufacturing operations temporarily suspended across major manufacturing hubs, leading to a substantial slowdown in the production. Major manufacturers including Samsung, LG Display, and Xiaomi among others have suspended their manufacturing operations in China, India, South Korea, and European countries. In addition to having an impact on the production, the ongoing pandemic has taken a toll on the consumer demand for display integrated devices, likely exacerbated by the lockdown imposed across major countries. Uncertainty regarding the possible length of lockdown makes it difficult to anticipate how and when a resurgence in the display industry will occur. On the flip side, increased demand for displays in medical equipment including ventilators and respirators is expected to keep the demand for displays afloat in the coming months. The report will account for Covid19 as a key market contributor.
Commercial displays are specifically designed for business applications that require higher runtimes, uniform aesthetics, high-end specifications, brighter displays, longer product life, and less maintenance. These displays differ from consumer display products in many ways. A consumer TV would provide a brightness of 150 – 250 Nits, whereas a commercial TV provides 300 – 2,000 Nits of brightness, which is suitable for outdoor applications. The demand for such professional-grade displays from various commercial applications is higher.
The commercial displays include digital signage products such as video walls, digital posters, kiosks, and others. These displays have a high demand from end-use applications such as retail, hospitality, transportation, and banking. The healthcare sector is expected to register a CAGR of more than 7.0% over the forecast period. The digital signage technology, coupled with IoT, and increasing adoption of cloud computing are expected to be the crucial factors driving the growth of the market. Moreover, commercial displays are enabling businesses to advertise and market products and services in an effective way.
Commercial Display Market Report Highlights
The government and regulatory bodies across the world are favorably driving the market growth through investments and initiatives for infrastructure developments. For instance, Chinese entities have made huge investments in the African airport infrastructure as a part of the Sino-African ties. As a result, airports in African cities such as Maputo are significantly developed and commercial displays have been installed all over the airports.
Additionally, the infrastructure development authorities in cities such as New York City are installing commercial signage displays to provide general information to the people. Additionally, the digital signage on the roadways and highways have access to real-time updates through IoT and provide the latest information, thereby increasing the safety of the people in the case of emergencies. For instance, the digital signage boards on roads are used for displaying emergency messages and alerts such as natural disasters, riots, civil unrest, and so on. All these factors are leading to market growth in developed and developing nations.
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Market players are increasingly investing in research & development of new technologies such as transparent panels in response to the growing demand for advanced display technology from hospitality, transportation, and healthcare application areas. The advanced technologies in digital signage and TVs are anticipated to boost the growth of the market. For instance, SAMSUNG introduced The Wall, a TV with self-emitting micrometer scale LEDs. Such micrometer scale LEDs eliminate the need for color filters or backlight as they serve as the source of color and light. The company’s TV with MicroLED technology exceeds a screen size of more than 200 inches.
The manufacturers are integrating their display products with AI-based solutions, remote hardware, and state-of-the-art software to stay ahead of the competition. The market is categorized by the presence of numerous publicly operated companies that have established a strong presence in the market. Such players account for a major part of total market share, thereby dominating the market for commercial display. Some of the prominent players in the commercial display market include:
Grand View Research has segmented the global commercial display market based on product, technology:
Commercial Display Product Outlook (Revenue, USD Million, 2014 - 2025)
o Video Walls
o Video Screens
o Transparent LED Screens
o Digital Posters
Commercial Display Technology Outlook (Revenue, USD Million, 2014 - 2025)
o Mini LED
o Micro LED
o Other LED
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information:www.grandviewresearch.com
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About the AuthorMrudula Anil Karmarkar
Joined: July 2nd, 2020
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