GVR Report cover Industrial Display Market Size, Share & Trends Report

Industrial Display Market Size, Share & Trends Analysis Report By Type (Panel-mount Monitors, Rugged), By Application (Interactive Display, HMI), By Technology (LCD, OLED), By Panel Size, By End-use, By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-1-68038-575-5
  • Number of Pages: 176
  • Format: Electronic (PDF)

Report Overview

The global industrial display market size was valued at USD 4.98 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 6.1% from 2022 to 2030. The rising penetration of multi-featured Human-Machine Interface (HMI) devices, increasing adoption of the Industrial Internet of Things (IIoT), and proliferation of smart industrial displays are some of the factors contributing to the market growth. The industry is gaining prominence on account of innovative features offered by the displays, which include touch screen panels and automatic touch detectors; RFIDs; Ethernet connectivity; and resistance to high temperatures, shock, vibration, dust, scratch, and chemicals.

U.S. industrial display market size, by technology, 2020 - 2030 (USD Billion)

The industry offers a huge investment opportunity as the displays are a suitable replacement for manual processes and outdated push-button technology.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 distinguished by continuous technological innovations 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 about 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, restricted the use of cadmium, lead, mercury, and hexavalent chromium & flame retardants, i.e., Polybrominated Diphenyl Ethers (PBDE) or Polybrominated Biphenyls (PBB) in electronic equipment.

Type Insights

Based on types, the global market has been further categorized into rugged displays, open-frame monitors, panel-mount monitors, marine displays, and video walls. The panel-mount segment accounted for a major revenue share of more than 31.7% in 2021 and is expected to dominate the market over the forecast period. Its growth can be attributed to a wide range of applications, easy availability, and affordability of the device. The major application of panel-mount industrial displays includes operational process control in manufacturing facilities. Maritime displays are built to survive in extreme marine environments and are utilized in commercial and cargo boats, cruise ships, and yachts.

In 2021, these industrial displays had the lowest revenue share; nevertheless, their market is predicted to grow at a significant CAGR during the forecast period. These displays have several advantages including real-time sonar for ships, an unmanned monitoring system for a seaport power substation, an Ethernet-integrated fighting system for battleships & tank balancing systems, and ship engine monitoring systems. Rugged displays are specifically designed to operate reliably under harsh industrial conditions including extreme temperature, vibrations, and wet & dusty conditions. Their applications include railway control systems, military-grade monitors, and task status boards in the manufacturing sector.

Application Insights

The HMI application segment led the entire market in 2021 and accounted for a share of more than 34.00% of the global revenue. The segment is expected to witness substantial growth over the forecast period. By 2030, the HMI segment is projected to account for the largest revenue share in the overall market. This is due to multinational HMI manufacturers growing their footprint in emerging markets like China and India. The technological revolution is expected to integrate the global reach of the internet with the ability to directly control industrial machinery, infrastructure, and operational processes in factories. The robust growth in IIoT applications has increased the demand for HMI devices, which is anticipated to witness rapid growth over the forecast period.

The interactive display enables two-way communication between the machine and user; their market is expected to witness the highest CAGR from 2022 to 2030. During the forecast period, the market is likely to be driven by the rapidly expanding usage of touchscreen tables and video walls in the hospitality and business sectors. Furthermore, interactive displays aid in the maintenance of a conducive communication atmosphere in the classroom, encouraging group learning, engagement, and innovation, as well as feedback not only between professors and students but also among students. In corporate meetings, the use of touchscreen tablets has been shown to give a better experience for both clients and employees. The use of such technology in offices helps employees, management, and clients to be more engaged.

Technology Insights

Display manufacturers are patenting their technological innovations to expand their revenue share in the market. For instance, LED HERO Electronic Technology Co., Ltd. holds patents for its transparent LED products. The LCD technology segment accounted for the maximum share of more than 38.6% of the global revenue in 2021. However, its revenue share in the overall market is expected to decline over the forecast period. This is attributed to the increasing adoption of the OLED technology due to its pixel-by-pixel brightness-controlling feature, which is not available in LCDs and LEDs. Moreover, contrast effects are better managed in OLED as compared to LCDs and LEDs.

The OLED technology is expected to grow at the highest CAGR over the forecast period.OLED displays comprise an organic light-emitting material that does not require backlighting or filtering systems seen in LCDs. Factors including low power consumption, high brightness, and a higher contrast ratio of OLED displays are the primary reasons for adopting OLED displays in industrial displays. Because of its improved performance and extensive light source coverage, OLED technology is gaining traction in general illumination applications. In addition to this, rising government initiatives supporting the adoption of OLEDs to promote energy-saving and minimize pollution and carbon emissions are also propelling the market growth.

Panel Size Insights

In terms of panel size, the market is classified into up to 14", 14"-21", 21"-40", and 40" and above categories. In 2021, the 14”-21” panel size segment dominated the overall market with a revenue share of more than 33.5% and is expected to remain dominant throughout the forecast years. Rising demand for handheld devices, tablets, and touch screens with rugged capabilities has propelled the demand for the 14”-21” segment. Moreover, the 14”-21” panel size is ideal for daily industrial operations and factory applications and generally includes TFT, LCD, or plasma technologies. These displays are designed to protect computers and screens from physical impact, dust, grease, oil, water splashes, metal shavings and filings, and theft.

On the other hand, the 21"-40" panel size segment is anticipated to witness the fastest growth rate from 2022 to 2030. The demand for touch screen computer equipment in heavy-duty work environments is expected to propel the growth of the 21"-40" panel size segment. The monitors and touch screen panels include anodized coatings with stainless-steel chassis and are designed to offer operators better durability and operation across wide temperature ranges. The tablets and monitors are in-built with multiple input and output options and advanced touch screen configurations.

End-use Insights

Manufacturing was the dominant end-use segment in 2021 and accounted for the largest share of over 34.5% of the global revenue. The segment is predicted to dominate the market throughout the projection period. This is mainly due to the high demand for display panels with integrated functionalities to increase manufacturing process efficiency. For example, in manufacturing facilities, the built-in alert function sends real-time signals to the operations manager in the case of an unexpected event. The energy & power sector is expected to account for a significant CAGR from 2022 to 2030.

Global industrial display market, by end-use, 2021 (USD Million )

This sector is projected to witness the highest growth in the Asia Pacific with countries, such as China, Japan, and India, being the most dominant markets. The use of industrial displays allows the plant operator to better monitor and operate the facility. Rugged industrial screens are particularly suited for usage in thermal, hydro, nuclear, and solar power facilities. Industrial displays can connect various energy systems that are utilized for data collecting, energy monitoring, and inciting operations to improve energy output. The mining & metals sector also accounted for a considerable revenue share in 2021. The increasing demand for rugged displays in the mining & metals segment is expected to drive the market over the forecast period.

Regional Insights

Based on geographies, the global market has been categorized into North America, Asia Pacific, Europe, Latin America, and MEA. The North America region dominated the market in 2021 and accounted for the largest share of more than 30.00% of the global revenue. Increased usage of digital signage and HMIs in North America will likely bring up new business prospects over the projection period. Furthermore, the increasing proliferation of industrial automation, rising expenditures in IIoT applications, and multi-featured HMI devices might accelerate the use of industrial display capabilities in this region.

The U.S. is estimated to be the largest market for industrial displays in the North American region, generating high demand from remote monitoring, HMI, and interactive display applications. In addition, the Southeast Asian countries, such as India, Japan, and China, are also driving the growth of industrial displays in the APAC region. Over the projection period, Asia Pacific is expected to witness the fastest growth. The demand for industrial displays in the region is mainly driven by the power generation and manufacturing industries. Furthermore, a few key firms producing these displays are headquartered in the Asia Pacific region.

Key Companies & Market Share Insights

To address the limitations of in-house R&D and develop breakthrough technologies, several businesses have conducted Mergers & Acquisitions (M&A) in the industry. In May 2021, Emerson introduced the RXi industrial display and panel PC portfolio, which is meant to monitor, visualize, and improve everyday manufacturing operations. Emerson’s Programmable Automation Control (PAC), Programmable Logic Control (PLC), and third-party control systems are all compatible with RXi industrial displays. In January 2020, Video Display Corp. acquired Jaco Display Solutions LLC, which manufactures and supplies touch panels, rugged LCDs, engineering services, optical bonding, and repair and replacement services. Some of the key players in the global industrial display market are:

  • Samsung Display

  • LG Display Co., Ltd.

  • Japan Display, Inc.

  • Advantech Co., Ltd.

  • WinMate, Inc.

Industrial Display Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 5.2 billion

Revenue forecast in 2030

USD 8.3 billion

Growth rate

CAGR of 6.1% from 2022 to 2030

Base year for estimation

2021

Historical period

2017 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2022 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Type, application, technology, panel size, end-use, region

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; U.K.; Germany; China; Japan; India; Brazil; Mexico

Key companies profiled

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 Corp.; Siemens AG

Customization scope

Free report customization (equivalent to up to 8 analysts' working days) with purchase. Addition or alteration to country, regional & segment scope.

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Segments Covered in the Report

This report forecasts revenue growths at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global industrial display market report based on type, technology, application, panel size, end-use, and region:

  • Type Outlook (Revenue, USD Million, 2017 - 2030)

    • Rugged Displays

    • Open-frame Monitors

    • Panel-Mount Monitors

    • Marine Displays

    • Video Walls

  • Application Outlook (Revenue, USD Million, 2017 - 2030)

    • HMI

    • Remote Monitoring

    • Interactive Display

    • Digital Signage

  • Technology Outlook (Revenue, USD Million, 2017 - 2030)

    • LCD

    • LED

    • OLED

    • E-paper

  • Panel Size Outlook (Revenue, USD Million, 2017 - 2030)

    • Up to 14”

    • 14-21”

    • 21-40”

    • 40” and above

  • End-use Outlook (Revenue, USD Million, 2017 - 2030)

    • Manufacturing

    • Mining & Metals

    • Chemical, Oil, and Gas

    • Energy & Power

    • Others

  • Regional Outlook (Revenue, USD Million, 2017 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • China

      • India

      • Japan

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

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