Interactive Market Display to grow at CAGR of 8.1%
By M4G Bureau - August 24, 2020
Beating the current trend of flat panel displays, the transparent displays are expected to be used more in interactive tables, kiosks, and monitors in future
Reportlinker announces a report "Interactive Display Market with COVID-19 Impact Analysis by Product, Technology, Panel Size, Panel Type, Vertical And Geography - Global Forecast to 2025". The report states that the interactive display market is expected to grow from USD 9.0 billion in 2020 to USD 13.2 billion by 2025, at a CAGR of 8.1%
The market growth can be attributed to several factors, such as growing demand for gamification and digital classrooms, growing adoption of interactive displays in retail sector, declining price of displays, easy availability of interactive products, and increased end-user engagement by using interactive displays for various applications—such as learning, presentations, signage, wayfinding, and ticketing. However, few factors such as high costs incurred for customization of touch tables and so on are creating hurdles for the market.
The recent COVID-19 pandemic is expected to impact the global interactive display market. The manufacturing units are hampered due to worldwide lockdown and limited availability of labour and raw material.
This has resulted in a disruption in the supply chain to a greater extent. Many business activities—from shopping to sporting and public events, where interactive displays are largely used— have been suspended or cancelled to avoid mass gathering.
Hence, it may be expected that new installations for interactive display products in these sectors will be low in the current scenario, which may lead to an adverse impact on the market.
Market for BFSI vertical to grow at highest CAGR during forecast period. The market for the BFSI vertical is expected to witness significant growth during the forecast period. In banks and financial institutions, interactive displays are used to convey financial information.
These displays help customers understand financial products to make a real-time comparison, help initiate purchase processes, and help provide feedback.
Flat panel type to dominate the interactive display market during the forecast period.
The interactive display market is currently dominated by the flat panel displays only. The other 2 panel types are in a very nascent stage in the interactive ecosystem, as of now, and are expected to grow at a high rate during the forecast period. Going forward, transparent displays are expected to be used more in interactive tables, kiosks, and monitors.
LCD technology to hold largest share of interactive display market during forecast period
LCD has been the widely used technology in interactive display products in the last few decades. Currently, many of the business areas, such as retail, corporate offices, and banks, are using LCD-based products.
The LCD segment held the largest market share in 2019 and was a relatively mature segment. The dropping manufacturing costs of LCDs is one of the major factors driving the extensive adoption of LCD technology.
North America is leading the market for interactive display in 2019
North America is the leading region in terms of market size related to interactive display applications. The interactive display market is estimated to grow significantly over the next few years in North America.
In the current market scenario, the US dominates the interactive display market in North America. Mexico is expected to rapidly adopt interactive displays in the near future. Therefore, the interactive display market is expected to have potential opportunities in North America.