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Commercial Display Market Set to Eclipse USD 57,907.09 million by 2025
The global commercial display market size is estimated to reach USD 57,907.09 million by 2025, growing at a CAGR of 7.07% over the forecast period. The global shipments of commercial-grade TVs are anticipated to exceed 25 million units by 2025. The growing adoption of the state-of-the-art display technology by developing nations of the Asia Pacific region is expected to spur the demand for commercial displays.
Commercial displays are specifically designed for business applications that require higher runtimes, uniform aesthetics, high-end specifications, brighter displays, longer product life, and less maintenance. These displays differ from consumer display products in many ways. A consumer TV would provide a brightness of 150 - 250 Nits, whereas a commercial TV provides 300 - 2,000 Nits of brightness, which is suitable for outdoor applications. The demand for such professional-grade displays from various commercial applications is higher.
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The commercial displays include digital signage products such as video walls, digital posters, kiosks, and others. These displays have a high demand from end-use applications such as retail, hospitality, transportation, and banking. The healthcare sector is expected to register a CAGR of more than 7.0% over the forecast period. The digital signage technology, coupled with IoT, and increasing adoption of cloud computing are expected to be the crucial factors driving the growth of the market. Moreover, commercial displays are enabling businesses to advertise and market products and services in an effective way.
The government and regulatory bodies across the world are favorably driving the market growth through investments and initiatives for infrastructure developments. For instance, Chinese entities have made huge investments in the African airport infrastructure as a part of the Sino-African ties. As a result, airports in African cities such as Maputo are significantly developed and commercial displays have been installed all over the airports.
Additionally, the infrastructure development authorities in cities such as New York City are installing commercial signage displays to provide general information to the people. Additionally, the digital signage on the roadways and highways have access to real-time updates through IoT and provide the latest information, thereby increasing the safety of the people in the case of emergencies. For instance, the digital signage boards on roads are used for displaying emergency messages and alerts such as natural disasters, riots, civil unrest, and so on. All these factors are leading to market growth in developed and developing nations.
Further key findings from the report suggest:
• The commercial display market is gaining traction owing to the increasing demand for digital signage from advertising & media industries coupled with an increasing preference among companies for the digitized form of advertisements
• The increasing adoption of digital signage products in hospitals and clinics for sharing registration information, display notifications, and conveying wellness tips is driving the healthcare segment growth
• The hardware segment, which includes displays, extenders & cables, accessories, and installation equipment, is projected to dominate the component segment over the forecast period
• The LED segment is expected to register a CAGR of over 7% from 2019 to 2025 owing to the high demand for micro LED displays
• The demand for commercial displays with panel size above 75 inches is expected to increase over the forecast period owing to the growing need for large-format displays in retail and hospitality applications
• The market is witnessing a shift in trend, from the use of flat panel displays to curved panels, owing to the immersive viewing experience and a wider view provided by the curved panel TVs and monitors
• The transportation application segment is expected to grow at the highest CAGR of over 8% over the forecast period owing to the rapid urbanization in developing countries and development of the transportation sector
• Prominent players in the market include CDW; Cisco Systems, Inc.; Dell; Koninklijke Philips N.V.; LG Display Co., Ltd.; NEC Display Solutions; Panasonic Corporation; SAMSUNG; Sharp Electronics Corporation; and Sony Corporation.
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