Industrial Display Market Assessment, By Type [Rugged Displays, Open Frame Monitors, Panel Mount Monitors, Marine Displays, Others], By Technology [LED, LCD, OLED], By End-user [Manufacturing, Metal and Mining, Energy and Power, Defense and Security, Othe

Industrial Display Market Assessment, By Type [Rugged Displays, Open Frame Monitors, Panel Mount Monitors, Marine Displays, Others], By Technology [LED, LCD, OLED], By End-user [Manufacturing, Metal and Mining, Energy and Power, Defense and Security, Others], By Region, Opportunities and Forecast, 2016-2030F

Global industrial display market has experienced significant growth in recent years and is expected to maintain a strong pace of expansion in the coming years. With projected revenue of approximately USD 5.23 billion in 2022, the market is forecasted to reach a value of USD 8.37 billion by 2030, displaying a robust CAGR of 6.1% from 2023 to 2030.

The global industrial display refers to specialized displays used in industrial applications, such as manufacturing, automation, healthcare, aerospace, and transportation. These displays are designed to withstand harsh operating conditions, including extreme temperatures, high humidity, and mechanical shocks. The market has seen significant growth due to the increased demand for efficient and reliable visualization tools in industries.

Several factors such as the rising adoption of automation and digitalization in industries, are fueling the demand for advanced display technologies to monitor and control industrial processes. Parallelly, the increasing need for real-time data analysis and visualization in manufacturing and processing units is boosting the market. Industrial displays provide crucial information to operators, enhancing productivity and reducing downtime. Additionally, the evolution of technologies like IoT (Internet of Things) and Industry 4.0 has further accelerated market growth, as these displays play a vital role in the interconnected network of industrial devices.

Moreover, the market is witnessing innovations in display technologies, including touchscreens, OLED (Organic Light-Emitting Diode), and ruggedized displays, catering to specific industry requirements. Asia-Pacific, North America, and Europe are the key regions contributing significantly to the market growth due to the presence of major manufacturing industries and increasing investments in automation technologies.

Implementation of Industry 4.0 and IoT Integration to Drive Industrial Display Market

The integration of Industry 4.0 and IoT (Internet of Things) is revolutionizing industrial processes and is a significant driving force behind the growth of the industrial display market. Industry 4.0, characterized by the intelligent networking of machines, systems, and processes, relies on real-time data exchange and automation. IoT enhances this concept by connecting various devices and sensors, enabling seamless communication and data analysis. In this context, industrial displays play a pivotal role by providing a visual interface for monitoring and controlling these interconnected systems. These displays facilitate complex data visualization, support predictive maintenance, enable remote monitoring, and enhance overall operational efficiency. As more industries embrace the Industry 4.0 and IoT paradigms to optimize production, reduce downtime, and improve decision-making processes, the demand for advanced industrial displays continues to rise, driving the market forward.

Siemens' industrial IoT platform, MindSphere, connects machines and physical infrastructure to the digital world. Integrated with industrial displays, MindSphere enables real-time monitoring and control of manufacturing processes. For instance, in a smart factory environment, Siemens' industrial displays can showcase live data from connected machines. If a machine's sensor detects a deviation from the optimal operating parameters, this information is relayed through MindSphere to the industrial display.

Rising Demand for Human-Machine Interface (HMI) Systems Influence the Market

HMIs serve as the bridge between humans and machines, enabling intuitive interactions and control within industrial settings. As industries increasingly embrace automation and digitalization, the need for advanced HMIs integrated with industrial displays escalate. Integrating HMIs with industrial displays facilitate a more streamlined and responsive workflow, supporting industries in achieving greater productivity and maintaining a competitive edge in the market. Consequently, the industrial display market continue to expand in response to the growing requirement for sophisticated, user-friendly interfaces in various industrial applications.

For instance, the PanelView 5000 series integrates advanced industrial displays with high-performance HMIs. These displays provide real-time data visualization, allowing operators to monitor equipment status, track production metrics, and diagnose issues efficiently. Through these HMIs, operators can interact with the manufacturing process using touchscreens, enabling quick adjustments, and reducing response times to changing conditions.

Asia-Pacific Dominates the Industrial Display Market

Asia-Pacific dominates the industrial display market due to several compelling factors. First and foremost, Asia-Pacific is a manufacturing powerhouse, with countries like China, Japan, South Korea, and India hosting numerous industries ranging from automotive and electronics to healthcare and aerospace. The rapid industrialization and ongoing modernization initiatives in these countries fuel the demand for industrial displays, particularly in automation, control systems, and Human-Machine Interface (HMI) applications. Also, the region is witnessing significant investments in sectors like automotive manufacturing, electronics, and healthcare, which heavily rely on industrial displays for efficient operations and quality control. Additionally, the presence of key market players and the emergence of local manufacturers providing competitive solutions further boost the market in the region.

Government Initiatives

New European Union regulations enforcing stringent energy efficiency standards for displays have been enacted in 2023. The regulations, part of an EU eco-design initiative, employ an energy efficiency index based on display size and luminance. While professional displays, like those used in digital signage, are exempt, these rules are expected to influence new product development in the business-to-business sector. The regulations, which cap energy consumption, present challenges for 8K displays as they consume more than double the energy of 4K counterparts. Manufacturers selling 8K devices will likely need to implement energy-saving presets to comply, potentially limiting the use of 8K capabilities. Samsung, a proponent of 8K TVs, plans to ship devices with default brightness-limiting eco modes, allowing users to switch to higher brightness settings, remaining within regulations' bounds.

The Indian government introduced new regulations in 2023, allowing giant digital LED billboards to be installed across the city and state. The rules empower officials to review applications and address irregularities. These digital displays can be placed at public locations like bridges, bus stands, parks, and railway stations. Licenses are valid for three years, with renewal required two years in advance. Printed displays can scroll with a dwell time of 10 seconds and a transition time of one second, but animated displays and moving videos are prohibited in busy areas. Design approval from local bodies is mandatory. Application fees for hoardings are USD 24.02 (INR 2,000) with a license fee of USD 72.07 (INR 6,000), which can be increased by up to 20% for LED or LCD advertisements.

Impact of COVID-19

The increased emphasis on automation and remote monitoring, driven by the need for social distancing and minimizing physical presence on factory floors, boosted the demand for industrial displays. Industries sought advanced displays to facilitate remote control, real-time data analysis, and predictive maintenance, driving the market's recovery. Moreover, the healthcare sector's demand for medical grade displays surged due to the need for diagnostic equipment and telemedicine solutions. The pandemic underscored the importance of reliable display systems in healthcare, leading to increased investments in this sector. While the early stages of the pandemic posed challenges to the industrial display market, the industry's adaptability and the increasing need for automation and remote monitoring solutions ultimately led to a rebound in demand, shaping the market's trajectory amidst the pandemic's challenges.

Key Players Landscape and Outlook

The industrial display market is witnessing a swift growth trajectory due to the increasing emphasis placed by companies worldwide on establishing advanced network infrastructure. Furthermore, the market expansion is greatly facilitated by industrial automation, along with significant investments made by companies to enhance research and development resources, engage in collaboration projects, bolster marketing efforts, and expand distribution networks. These factors collectively contribute to the rapid expansion of the market.

In March 2022, Planar introduced two innovative LED video wall display lines tailored for dynamic events and areas with high ambient light: the Planar Luminate Pro Series and Planar Venue Pro Series. These families incorporate mechanical features that streamline the setup and dismantling processes for temporary and mobile events. Additionally, they offer full front installation and serviceability, making them suitable for both temporary setups and more enduring wall-mounted installations.