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Industrial Display Market Size Worth $7.26 Billion By 2025
August 21, 2017 | Grand View Research, Inc.Estimated reading time: 1 minute
The global industrial display market 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.
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 HMI application segment is expected to account for the largest revenue share in the overall market by 2025, registering a CAGR of around 6% over the forecast period
- The demand for industrial displays is expected to grow substantially in the chemical, oil, and gas segment and the energy & power segment over the forecast period
- By 2025, the energy & power end-use segment is projected to account for around 25% of the total market revenue share.
- In 2016, the panel-mount displays and video walls together accounted for more than 60% of the total revenue share in the European region
- The LCD technology is widely used across all devices; however, the OLED technology is anticipated to witness a high growth over the forecast period
- Key players in the industry include LG Display Co., Ltd., Samsung Display, Pepperl+Fuchs GmbH, Advantech Co., Ltd., Planar Systems, Inc., WinMate, Inc., NEC Display Solutions, Ltd., Maple Systems, INC., Japan Display, Inc., Innolux Corporation, and Siemens AG
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