Valued at $9.2 billion in 2018, the global interactive display market is projected to surpass $16.4 billion by 2024, witnessing a CAGR of 10.4% during the forecast period (2019–2024). Among all regions, Asia-Pacific (APAC) is expected to exhibit the fastest growth in the market during the forecast period. This can be majorly attributed to the increasing investments in education and transportation sectors in various countries including China, India, and Australia.
Dynamics of Interactive Display Market
With the growing demand for interactive display products, the price of various display screens has been reduced. Interactive display products such as interactive whiteboards, kiosks, monitors, and others have increased their penetration in the market due to the declining price of touchscreen panels and light-emitting diode (LED) displays. The price of LED displays is expected to decline by 20% during the forecast period. The declining prices of LED displays would directly impact the global interactive display market. Increasing panel size and upgrading resolutions such as FHD, 4K, and 8K improves the overall performance of the display and offers an enhanced view. With growing demand for a better-quality display is driving the demand for FHD, 4K, and 8K based displays and thus, driving the interactive display market.
Interactive Display Market Segmentation Analysis
Based on panel size, 33–65 inches category held the largest share in 2018. This is due to the high demand for 33–65 inches interactive displays from retail, healthcare & hospitality and transportation sectors of regions like North America and APAC. These displays help in improving overall visual experience for signage, wayfinding, and other self-service applications.
Based on technology, the liquid crystal display (LCD) category held a larger share in 2018. This is attributed to the increasing use of LCD interactive displays in educational institutes of countries including the U.S., Germany, China, the U.A.E., and the U.K. This is due to LCDs consume less power as opposed to the conventional LCDs, on account of lack of backlight screen. In the interactive display market, the APAC region contributed the highest market share in the LCD category in 2018, due to the growing adoption of LCD based interactive display in the education, retail, and hospitality sectors.
Geographical Analysis of Interactive Display Market
Globally, APAC interactive display market held the largest revenue share in 2018 and is expected to witness a fastest growth rate during the forecast period. Interactive displays are getting increasingly prevalent in APAC retail sector. These displays offer product information while enhancing the in-store environment. In APAC retail sector, with Southeast Asia, in particular, is expected to exhibit strong growth in the coming years; the region's retail sales are forecasted to reach $1.38 trillion by 2025 from $720 billion in 2017.
Moreover, the market is exhibiting decline in prices for interactive display products throughout the region, based on the large-scale manufacturing in China, Japan, and South Korea. This is further aided by the rising number of manufacturers in the region providing surface-based touch technologies such as resistive and capacitive detection, and perimeter-based technologies such as infrared and optical detection. These factors are expected to provide strong growth to the market during the forecast period as well.
Competitive Landscape of interactive display Market
The global interactive display market is highly competitive in nature, characterized by the presence of companies such as Samsung Electronics Co. Ltd., LG Electronics Inc., and others. Apart from this, NEC Corporation, Panasonic Corporation, Sharp Corporation, Crystal Display Systems Ltd, ELO Touch Solutions Inc., Gesturetek Inc., Seiko Epson Corporation, and Koninklijke Philips N.V., are the other prominent players operating in the interactive display market.
Recent Strategic Developments of Major Interactive Display Market Players
Major players in the global interactive display market were involved in various activities, such as partnerships and product launch to gain a competitive edge in the market. For instance, in November 2019, LG Electronics Inc. introduced IR-based UHD interactive digital boards that are available in 65, 75, and 86-inch models. All the boards are equipped with IPS panels and IR touch technology for a responsive HD experience. These boards can be connected up to 30 users and support interactive meetings offering specialized tools such as literature-sharing, questionnaires, and voting.
Key Questions Addressed/Answered in the Report
What is the current scenario of the interactive display market?
What are the emerging technologies that could be incorporated with the interactive display?
What is the historical and the present size of the market segments and their future potential?
What are the major product types for the market and their impact during the short, medium, and long terms?
What are the evolving opportunities for the players in the market?
Which are the key geographies from the investment perspective?
What are the key strategies adopted by the major players to expand their market share?