The global interactive display market was valued at $9.2 billion in 2018 and is projected to reach $16.4 billion by 2024, progressing at a CAGR of 10.4% during the forecast period (2019–2024). Among products, flat-panel category is expected to exhibit the highest growth rate during the forecast period. This can be majorly attributed to an increase in demand for interactive flat panel displays in the education sector of countries like China, Turkey, U.A.E., and the U.S.
Increasing use of flexible light-emitting diode (LED) displays
One of the major trends observed in the interactive display market is the increasing use of flexible LED technology owing to the advantages offered by this technology over interactive LCDs. The interactive flexible LED technology offers high-resolution and provides better picture quality. It also captures picture motions in various areas and configurations from an extensive variety of gadgets like link boxes, cameras, or personal computer (PC).
Flexible LED displays are available at lower thickness levels as opposed to the LCDs which provides better aesthetic appeal to the viewer, and hence provides better marketing advantages to end users. Owing to this, companies have started producing flexible LED displays for commercial use to cater the demand for various end user categories like retail, hospitality & healthcare, and transportation. For instance, in 2017, PixelFLEX LLC launched 1.9mm TrueFLEX LED flexible video panel which can be quickly and securely attached via magnets to virtually any surface, allowing for a unique no-fan, no-noise design to attract customer attention.
Improper functioning of multi-touch interactive displays
The market for interactive displays is booming at an exorbitant rate, as they are increasingly being adopted in retail environments, schools, hotels, museums, sports events, and conference centers, globally. They improve turnaround time and ease of access. This makes work easier and therefore results in time and other resource-saving. Thus, to gain customer attraction, companies are using interactive displays to showcase information about their products.
All these certain advantages are driving the market growth of interactive display; however, improper functioning in multi-touch displays is hindering the growth of the market of an interactive display. Low accuracy and precision along with rough and dirty hands often obscure the screen information while selecting the desired options, resulting in the damaging of touch screen owing to its sensitive nature. With such improper functioning, it loses its calibration and might not take the user's input correctly which might cause incorrect operations.
Segmentation Analysis of Interactive Display Market
Geographical Analysis of Interactive Display Market
Geographically, the Asia-Pacific (APAC) region is expected to showcase the considerable growth over the forecast period. This can be attributed to the increasing investments in education and transportation sectors in various countries including China, India, and Australia. For instance, according to the Ministry of Transport of China, the country invested $72.7 billion (488.9 billion yuan) in transportation infrastructure projects in the first quarter of 2019, up by 4.8% from last year. Nowadays, interactive displays are ubiquitous in transportation applications such as control panels, passenger information display systems, and ticket machines. Therefore, with continuous increased investments in the transportation sector, China is expected to register a considerable growth rate to the interactive display market in the future.
Competitive Landscape of Interactive Display Market
The global interactive display market is consolidated in nature, due to the presence of a large number of global and regional players. Major players in the market include Samsung Electronics Co. Ltd., and others. Market players are focusing on collaboration to increase their footprint in the market. For instance, in November 2019, Elo Touch Solutions Inc. collaborated with Viewbix Inc. to extend video marketing engagement to physical stores. The combination of Viewbix’s interactive video technology and video analytics suite with the flexibility of Elo’s interactive touch screen technology would launch a comprehensive solution for companies in order to leverage video content across the spectrum of distribution platforms and to enrich video marketing campaigns.
Some of the other key players operating in the interactive display market include LG Electronics Inc., NEC Corporation, Panasonic Corporation, Sharp Corporation, Crystal Display Systems Ltd, ELO Touch Solutions Inc., Gesturetek Inc., Seiko Epson Corporation, and Koninklijke Philips N.V.
Interactive Display Market Segmentation
Market Segmentation by Panel Size
Market Segmentation by Product
Market Segmentation by Technology
Market Segmentation by End User
Market Segmentation by Region