The significant expansion of industrial automation across a diverse range of sectors is serving as a pivotal catalyst, driving substantial growth in the Large Industrial Displays Market over the projected timeframe. These expansive displays play a crucial role in facilitating the visualization and monitoring of intricate data, nuanced process controls, and real-time production information. This underscores their indispensable nature in modern industrial operations.
Projections indicate that the global market for large industrial displays is poised to attain a valuation of approximately US$ 2.8 billion by the year 2023. This upward trajectory can be attributed to the escalating adoption of these displays across various end-use industries. Looking ahead, the market is anticipated to achieve a valuation of US$ 5.2 billion by 2033, exhibiting a Compound Annual Growth Rate (CAGR) of 6.4% from 2023 to 2033.
A key driving force behind this growth is the expanding utilization of industrial automation across diverse sectors. These larger displays serve as essential tools for the visual representation and monitoring of intricate data, complex process controls, and dynamic production insights. Moreover, the increasing digitalization observed in various end-use industries, such as the pharmaceutical sector where precise product counting is of paramount importance, has led to the strategic implementation of these displays to ensure the standardized packaging of tablets and medicines.
The market’s positive momentum is further propelled by continuous innovation and advancements in display technologies. The rise of digital signage and the emergence of lightweight Organic Light Emitting Diode (OLED) displays are contributing to a flourishing trend within the large industrial displays market. Furthermore, the remarkable proliferation of the Internet of Things (IoT) is also proving to be a favorable factor, bolstering the growth trajectory of this market segment.
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The escalation of manufacturing capacities across diverse industries within nations such as the United States and Canada, coupled with the accelerated progression of automation and technological advancements, has precipitated a notable surge in the requisition for expansive industrial display systems. This augmented demand is notably propelled by the growing emphasis on automation and the Internet of Things (IoT), which is anticipated to distinctly impact the market dynamics and sales trajectory of large industrial displays within the East Asian region.
Key Takeaways from the Market Study
- The market study reveals that the demand for large industrial displays experienced substantial growth, expanding at a Compound Annual Growth Rate (CAGR) of 5.6% from 2018 to 2022.
- The LED segment, in terms of technology, accounted for a CAGR of 1%, highlighting its significance in the market.
- Notably, the video walls segment is poised for significant expansion, with a projected CAGR of 6.2% throughout the forecast period, indicating a growing preference for this product type.
- The North American region emerges as a promising hub for the large industrial displays market, with a projected CAGR of 6.2%, suggesting favorable opportunities for market growth in this region.
- Projections indicate that the United Kingdom’s large industrial displays industry is anticipated to achieve a market value of US$ 4.2 billion by the year 2033.
- The Asia Pacific region presents an opportunistic landscape for the large industrial displays market, with an expected CAGR of 6.3% during the forecast period, underscoring the potential for growth and investment in this region.
- South Korea’s large industrial displays sector is projected to attain a noteworthy market revenue of US$ 5.8 billion by 2033, emphasizing its role as a significant player in the global market.
These insights from the market study provide valuable perspectives on the growth trends and potential opportunities within the large industrial displays market.
Competitive Landscape
The global market for large industrial displays demonstrates fragmentation, with the concurrent presence of numerous substantial and medium-sized participants. Prominent entities within this market are actively allocating resources towards strategic agreements, aiming to secure a more significant portion of the market share.
Prominent players in the large industrial displays market are:
- LG Display Co., Ltd.
- Advantech Co., Ltd.
- Pepperl+Fuchs GmbH
- WinMate, Inc.
- Planar Systems, Inc.
- Maple Systems, INC.
- Sharp NEC Display Solutions, Ltd.
- Innolux Corporation
- Japan Display, Inc.
- Siemens AG
Some key developments of the leading companies in this market are:
Several prominent companies in the market have achieved noteworthy advancements.
- Japanese Display Inc. (JDI) is a distinguished display manufacturer with a focus on the research, development, and production of diverse display technologies, particularly for industrial implementations.
- WinMate stands out for its provision of expansive industrial displays, offered in a diverse range of sizes and configurations tailored to meet diverse customer requisites. The available sizes span from 10 inches to well beyond 55 inches, thereby offering adaptable solutions for a spectrum of industrial applications.
- Innolux has strategically directed its efforts towards the advancement of Mini LED technology, a pioneering innovation that yields substantial improvements in contrast, brightness, and color accuracy compared to conventional LCDs. Innolux’s dedicated pursuits have culminated in the creation of Mini LED backlighting solutions, most notably for large-scale displays employed in industrial contexts. This technological breakthrough not only elevates visual performance but also substantially enhances overall picture quality.
Know More about What the Large Industrial Displays Market Report Covers
Future Market Insights offers an unbiased analysis of the global large industrial displays market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the large industrial displays market, the market is segmented based on technology, size, and product type across five major regions.
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Key Segments Covered:
By Product Type:
- Open Frame Displays
- Panel Mount Displays
- Industrial Monitors
- Video Walls
By Technology:
- LCD
- LED
- OLED
By Size:
- Open Frame Display, Panel Mount Displays and Industrial Monitors
- 20”-40”
- Above 40”
- Video Walls
- Less than 6 screens
- Above 6 screens
End-use Industry:
- Discrete Manufacturing
- Automotive and Transportation
- General Manufacturing
- Electronics & Electricals
- Process Manufacturing
- Chemicals & Pharmaceutical
- Food & Beverage
- Oil & Gas
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa
Explore this report from different publication
Large Industrial Displays Market
https://finance.yahoo.com/news/large-industrial-displays-market-anticipated-084700136.html
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