Display Market Size 2022: Size, Industry Share, Approaches, and Forecast By 2025
Increasing adoption of touch-enabled screens in various retail applications such as Point of Sale (POS) system, cash registers, computers, and others will drive global display market growth in the forthcoming years. Growing demand for PCs globally will positively influence the adoption of advanced display systems.
Reportedly, PC shipments globally accounted for nearly 70.6 million units in the fourth quarter of 2019, 2.3% higher than the fourth quarter of 2018. The incorporation of display units in PCs plays a vital role in enhancing the overall experience of these devices. Rising consumer preference towards advanced computers with high-resolution display output would escalate industry size in the coming years.
Global display market size is expected to surpass US$20 billion by 2024, as per the industry report issued by the Global Market Insights, Inc. Described below are some prime factors propelling high adoption of display units.
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Robust demand for touch screen kiosks
Touch-enabled screens are being adopted by brick-and-mortar retailers to enhance customer interaction and ease cash counter workload. The touch screen information kiosks are mostly deployed in heavy traffic areas for business purposes that enable customers to browse through different product offerings effortlessly.
Kiosks are basically a device, based on self-service technology that is broadly adopted by restaurant owners, retailers, and warehouse and distribution centers to enhance their operational efficiencies. These devices are available in various types for different kinds of applications, such as ticketing kiosks, food-ordering kiosks, and self-checkout kiosks. Reportedly, there were nearly 45 thousand units of self-checkout kiosks that were shipped in 2016.
Growing deployment of 10” multi-function ATMs
Owing to the rising deployment of multi-function ATMs, the 10” ATM display industry will grow significantly in the coming years. The growing focus of banks and financial service providers towards the deployment of multi-function ATMs to minimize the transactional workload and the number of branches as well as to enhance the efficiency of existing ATMs will complement the business progression. The 17” – 32” kiosk display industry is anticipated to expand considerably as well, on account of the higher efficiency and compactness of these systems.
1024x786 pixels display systems demand in HD televisions
The 1024x768 pixels display industry is projected to experience lucrative growth in the upcoming years due to the high display resolution of these devices which render enhanced visual comfort. The high-resolution aspect of these systems eases the stress of users’ visions by enhancing the quality of the visuals. Such visual comforts and high clarity offered will augment their demand from numerous consumer electronic products such as computer monitors, laptops, high definition televisions, and others.
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Digitalization trend in APAC to boost POS applications
The display industry share from POS applications is likely to grow exponentially on account of the growing penetration of online payments, e-commerce, and mobile payments. Shifting paradigms towards cashless economies in emerging countries like India, China, and Japan would positively influence product adoption in these regions.
For instance, initiatives like digitalization and demonetization by the Indian government to encourage payment through the digital medium will further boost the mass adoption of POS systems. Also, extensive investments by the POS manufacturers in developing end-to-end encryption solution to initiate safe and secure payments will encourage the end-users to prefer the systems over other alternatives.
Prominent display manufacturers in South Korea
South Korea display industry is forecasted to expand substantially in the coming years on account of the presence of leading industry players and their ability to manufacture low-cost devices. Owing to the consistently rising demand for semiconductors and display systems in this region, the manufacturers of are increasingly emphasizing on uplifting their manufacturing capabilities. For example, a leading semiconductor and display manufacturing equipment supplier, Jusung Engineering, announced to spend over 20% of its annual sales to make new display and photovoltaic equipment products.
Ingenico Group, Advantech Co., Ltd., Aplus Display Technology, Co., Ltd., Displax S.A., and Fujitsu Limited, are the notable companies operating the global display industry. Also, companies like NCR Corporation, Ingenico Group, and NEC Corporation follow strict quality control measures to manufacture high-end quality equipment.
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