Demand for Industrial Display and Impact of COVID-19 ..
Posted by Mrudula Anil Karmarkar on April 28th, 2021
The global industrial display market size is expected to reach USD 7.26 billion by 2025, according to a new report by Grand View Research, Inc. Due to the growing complexity of industrial operations and processes, the use of industrial displays has become crucial to simplify operational tasks and provide technologically advanced features.
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.
Human Machine Interfaces (HMIs) and other displays possess the ability to respond to the changing production demands and closely monitor the production processes, thereby decreasing the downtime and increasing workforce efficiency. A well-designed HMI enables line of sight into the system, which allows the operator to control or maintain the machine and enhance productivity.
OLED displays are expected to gain prominence on account of their enhanced picture quality and low power consumption. The technology is widely used in digital signage and display boards to indicate the operational status at factory floors. Solution providers have begun offering IIoT application platforms integrated with industrial display devices and services. For instance, American Industrial Systems, Inc. (AIS) offers open platform computing solutions for IIoT and facilitates its application in industrial companies, factories, transportation & logistics, buildings, and smart cities.
Companies are investing heavily in R&D activities for designing technologically enhanced displays and offering distinguished products compared to their competitors. Mergers & Acquisitions (M&A), strategic agreements, and multiple partnership agreements are other growth strategies adopted by players to increase their product offering and expand their distribution platform.
Further key findings from the report suggest:
The industry is gaining prominence on account of innovative features offered by the displays, which include automatic touch detector and touch screen panels; radio frequency identification (RFID); Ethernet connectivity; and resistance to high temperature, shock, vibration, dust, scratch, and chemicals. The industry offers a huge investment opportunity as the displays are a suitable replacement for manual processes and outdated push-button technology.
The market is characterized by constant technological innovation to keep pace with the changing industrial needs. Technologies such as Thin-Film-Transistor (TFT) Liquid Crystal Display (LCD), Low-Temperature Poly-Silicon (LTPS), Digital Light Processing (DLP), and Color Filter (CF) are some of the latest innovations in the industry. Advancement and innovation are primarily driven by the growing demand for multi-featured HMIs and smart touch screen displays.
Regulations pertaining to the manufacturing and selling of industrial displays vary at regional or country levels. For instance, the European Union Law on the Restriction of Hazardous Substances (RoHS) has, to some extent, restrict the use of cadmium, lead, mercury, and hexavalent chromium & flame retardants, i.e. Polybrominated Diphenyl Ethers (PBDE) or Polybrominated Biphenyls (PBB) in electronic equipment.
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Key players in the market include Samsung Display, LG Display Co., Ltd., Japan Display, Inc., Advantech Co., Ltd., and WinMate, Inc. Several players have carried out Mergers & Acquisitions (M&A) in the market to tackle the challenges of in-house R&D and develop innovative technologies. For instance, in October 2016, Pepper+Fuchs GmbH acquired ecom Instruments GmbH, which is a supplier of mobile phones, tablets, and 4G smartphones. The acquisition has helped Pepper+Fuchs GmbH to expand its product offerings and accelerate the rate of product development.
Furthermore, in January 2017, Advantech Co., Ltd. announced the acquisition of 60% stake in Kostec Co., Ltd., a medical display company based in South Korea, as a part of its strategy to expand geographically. This acquisition is expected to help Advantech Co., Ltd. expand its healthcare product lines in South Korea and drive the growth of the regional iHospital market.
Grand View Research has segmented the global industrial display market on the basis of type, application, technology, panel size, end-use.
Industrial Display Type Outlook (Revenue, USD Million; 2014 - 2025)
Industrial Display Application Outlook (Revenue, USD Million; 2014 - 2025)
Industrial Display Technology Outlook (Revenue, USD Million; 2014 - 2025)
Industrial Display Panel Size Outlook (Revenue, USD Million; 2014 - 2025)
Industrial Display End-Use Outlook (Revenue, USD Million; 2014 - 2025)
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
Articles Posted: 1,085
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