The commercial display market grew at a CAGR of around 8.2% during 2014-2019. Commercial displays refer to the large digital screens that are employed by businesses for promoting their products or services to substantial masses. These screens offer several optimized features, such as anti-burn-in and image retention, which makes them durable, easy to operate, as well as enable efficient management for commercial applications. Besides this, commercial displays also include multi IR options and USB cloning features for display control, even from remote locations. Generally, these screens are manufactured to withstand direct sunlight, moisture, humidity, harsh wind, etc., thereby are suitable for outdoor installations. Owing to these benefits, commercial displays are widely installed across metro stations, airports, hospitals, restaurants, corporate offices, bars, stadiums, and shopping malls, among other public and commercial infrastructures.
The increasing utilization of commercial displays can be attributed to the rising adoption of large digital screens across diverse sectors, such as hospitality, retail, healthcare, education, corporate, and transportation, for several advertising and marketing purposes. Along with this, the prevalent trend of customized display solutions pertaining to digital signage has also led to the growth of the commercial display market. Additionally, the growing popularity of innovative technologies, involving artificial intelligence and machine learning has propelled the demand for 4K and 8K commercial displays at a global level. These advanced commercial displays provide higher resolution with intricate details, that drive customer attention towards the displayed content. Moreover, based on various technological upgradations, coupled with the implementation of novel marketing strategies, several market players are adopting commercial displays for their business growth. For instance, Samsung has launched the latest 4K signage that enhances the picture quality of the lower resolution content through its UHD upscaling technology. Besides this, the increasing production of UHD content by the advertisers has led to the high commercial utilization of high-end and premium-quality displays across developed regions, such as North America and Europe. Furthermore, the rising environmental concerns towards energy conservation have led to the introduction of newer technologies, such as micro-LED and OLED, that spur the demand for energy-efficient commercial displays globally. Apart from this, rapid urbanization and modernization, particularly across developing economies, have led to the growing investments in the development of various infrastructural projects, thereby propelling the demand for commercial displays. All of the above mentioned factors will continue to drive the growth of commercial display market in the coming years. Looking forward, IMARC Group expects the market continue its strong growth during the next five years.
Breakup by Product Type:
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The competitive landscape of the industry has also been examined with some of the key players being Cdw Corporation, Cisco Systems, Inc., Dell Technologies Inc., Koninklijke Philips N.V., LG Display Co., Ltd., NEC Display Solutions., Panasonic Corporation, Samsung Electronics Co., Ltd., Sharp Corporation, Sony Corporation, etc.
Key Questions Answered in This Report:
The commercial display market was worth around US$ 36 Billion in 2019.
According to the estimates by IMARC Group, the commercial display market will exhibit strong growth during the next five years.
The increasing application of commercial displays in the healthcare, transportation, and education and training sectors, in confluence with the introduction of innovative technologies, represents one of the major drivers bolstering the market growth.
Due to the rising environmental concerns, leading players are introducing energy-efficient commercial displays that are incorporated with organic light-emitting diodes (OLED) and micro-LEDs.
Lockdowns have been implemented by governments of several countries to contain the spread of the coronavirus disease (COVID-19). In line with this, public spaces and transportation systems, including restaurants, airports, metro stations, stadiums and shopping malls, have been closed temporarily. Consequently, sales of commercial displays have declined around the world due to the pandemic.
Based on the product type, the market has been segmented into digital signage, display monitor and display TVs.
On the basis of the technology, the market has been categorized into LCD, LED and others.
On the basis of the component, the market has been segmented into hardware, software and services.
Based on the panel type, the market has been classified into flat, curved and other panels.
On the basis of the size, the market has been segmented into below 32, 32 to 52, 52 to 75 and above 75 inches.
Based on the application, the market has been categorized into retail, hospitality, entertainment, stadiums and playgrounds, corporate, banking, healthcare, education and transportation.
Region-wise, the market has been classified into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia and others); Latin America (Brazil, Mexico and others); and Middle East and Africa.
Leading industry players are CDW Corporation, Cisco Systems, Inc., Dell Technologies Inc., Koninklijke Philips N.V., LG Display Co., Ltd., NEC Display Solutions., Panasonic Corporation, Samsung Electronics Co., Ltd., Sharp Corporation and Sony Corporation.
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