NEWARK, NJ, May 09, 2022 (GLOBE NEWSWIRE) — According to the report published by Fior Markets, the global market for commercial displays is projected to grow from US$43.5 billion in 2020 to US$75.36 billion in 2028, at a CAGR of 7.11% over the forecast period 2021-2028.
The commercial display market has experienced significant growth in recent years. Commercial display is a type of graphic advertising on social media, website or application, or in public places, retail stores, hotels, restaurants, transportation systems, museums, etc. through banners or other advertising formats of text, images, video, audio or flash. Therefore, it can be said that Commercial Display enables online advertising that allows to convey advertising messages, brand messages and much more. In general, the main intention of commercial displays is to attract consumers’ attention, wayfinding, marketing, exhibitions, and outdoor advertising, and also help brand awareness, etc. In addition to advertising, commercial displays provide information, entertainment and merchandising for a specific audience.
Commercial organizations increasingly prefer large format, commercial quality displays for trade shows, training, conferences and other applications. Commercial display manufacturers are incorporating technological advances such as artificial intelligence (AI) into their products to enable the global adoption of commercial displays. Market players are increasingly investing in the research and development (R&D) of new technologies such as transparent panels to meet the growing demand for advanced display technology. Commercial displays are used in various industries such as retail, healthcare, entertainment, transportation, corporate, hospitality, banking, stadiums and playgrounds, and education.
The global commercial display market is expected to grow due to rapid urbanization, increasing demand for display-based medical devices, including ventilators and ventilators, which is a consequence of the Covid pandemic, growing demand for interactive displays in various applications and the growing production of UHD content, significant growth will be seen by advertisers for various advertising applications, increasing demand for customized digital signage solutions in various sectors such as healthcare and transport, massive investments by manufacturers for the development of high-end products increased efficiency. Commercial displays integrated with advanced technologies such as machine learning and AI are expected to drive the growth of the market. The factors restraining market growth are software and hardware compatibility in digital signage followed by connectivity issues, negative impact on demand for displays from retail due to drastic shift towards online advertising and shopping, hampering of manufacturing processes and supply chain due to Covid outbreak, high cost. The outbreak of Covid is negatively impacting the display sector due to the government’s temporary suspension and restriction of all operational activities. Increasing acceptance of foldable and flexible displays, product innovation and product launches will provide market growth opportunities. The innovations like customized digital signage in healthcare to keep staff informed, track patients etc. are contributing to the market growth.
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Key players in the global commercial display market include Samsung Electronics (South Korea), LG Corporation (South Korea), Sony Corporation (Japan), NEC Corporation (Japan), BOE Technology (China), Leyard Optoelectronic (China), INNOLUX ( Taiwan). ), AU Optronics (Taiwan), Sharp Electronics Corporation (Japan), Panasonic Corporation (Japan), Koninklijke Philips NV, CDW Corporation, Omnivex Corporation, Dell Technologies Inc., Cisco Systems, Inc., Benq Corp., E Ink Holdings Inc ., Corning Incorporated, HannStar Display Corporation, Intuiface, Sharp NEC Display Solutions of America, Inc., Planar, Elo Touch Solutions, BEO Technology Group Co., Viewsonic, Kent Displays Inc.
- Panasonic plans to end LCD production by 2021.
- Major TV manufacturers such as LG Electronics and Sony are suffering massive losses due to falling demand for LCD panels.
The smartphone segment dominated the market, holding the largest market share of 41.09% in 2020
On the basis of product, the global commercial display market is segmented into smartphones, TVs, PC monitors, laptops, tablets, smart wearables and digital signage. The smartphone segment dominated the market, holding the largest market share of 41.09% in 2020. This growth can be attributed to the increasing adoption of OLED and flexible displays by smartphone manufacturers. Besides smartphones, wearables hold the largest market share due to the introduction of AR/VR technologies.
LCD technology segment dominated the market, holding the largest market share of 31.18% in 2020
On the basis of display technology, the global commercial display market is segmented into LCD, Direct View LED, OLED, Micro LED and others. The LCD technology segment dominated the market, holding the largest market share of 31.18% in 2020. This growth is due to the increased use of LCD-based products by corporate offices, banks, retailers and many more, as well as lower manufacturing costs.
The hardware segment dominated the market, holding the largest market share of 43.72% in 2020
On the basis of components, the global commercial display market is segmented into hardware, software and services. The hardware segment dominated the market holding the largest market share of 43.72% in 2020. This growth is due to increasing demand for hardware versus software. Software has had a significant market share due to the introduction of new and advanced digital signage software.
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Regional segment of the commercial display market
- North America (USA, Canada, Mexico)
- Europe (Germany, France, Great Britain, Italy, Spain, rest of Europe)
- Asia Pacific (China, Japan, India, rest of APAC)
- South America (Brazil and rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
Geographically, the global commercial displays market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The Asia-Pacific region holds the largest market share of 38.24% in 2020. This growth is being witnessed by the Asia-Pacific region due to the rapid adoption of OLED displays, the growing number of display panel manufacturing bases and the impact of Covid, leading to surge in demand for laptops and smartphones as educational institutions adopt digital teaching methods, work from home, etc. Many companies are attracted to new OLED and LCD panel manufacturing bases due to the low manufacturing cost of display panel products to erect in Asia-Pacific labor costs are low.
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About the report:
Global Commercial Displays Market is analyzed on the basis of value (Billion USD). All segments have been analyzed on a global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of the driving factors, opportunities, restraints, and challenges to gain the key insights of the market. The study includes Porter’s five forces model, an attractiveness analysis, a commodity analysis and a competitor position grid analysis.
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