The global commercial display market size accounted for US$ 44,985 Mn in 2021 and is expected to reach US$ 84,707 Mn by 2030 with a considerable CAGR of 7.5% during the forecast timeframe of 2022 to 2030.
Over the decades, consumer displays look to be the most profitable option for marketing areas in retail. Commercial displays are designed to be utilized in a number of contexts and are ideal for professional, corporate, or marketing purposes. The primary goal of these displays is to convey a message to the audience and promote a product or service to consumers, whether it is information or effective marketing activity. The advantages of commercial-grade monitors outweigh the cost difference and add value. With these displays, it is a simple way to attract the audience's attention. They are intended to help corporations and businesses of all sizes and in all industries. Furthermore, these displays may operate in situations prone to wear and tear without being damaged. They can work for extended periods of time and under severe conditions like rain, knocking during installation, dust, or pollution, among others.
· Growing demands for digital signage in multiple industries
· Widespread use of commercial displays in the hospitality and retail sector
· Rising use of Light Emitting display(LED) for the digital screen
· High energy consumption and operation costs
· Easy availability of product substitutes
· Growing demands for 4K and 8K commercial displays coupled with AI up scaling, and machine learning technologies
|Market||Commercial Display Market|
|Market Size 2021||US$ 44,985 Mn|
|Market Forecast 2030||US$ 84,707 Mn|
|CAGR||7.5 % During 2022 - 2030|
|Analysis Period||2018 - 2030|
|Forecast Data||2022 - 2030|
|Segments Covered||By Product, By Technology, By Component, By Type, By Size, By Application And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Cisco Systems, Inc., Dell, Koninklijke Philips N.V., LG Display Co., Ltd., CDW, Japan Display Inc., NEC Display Solutions, Panasonic Corporation, Benq Corp., Samsung Display Co. Ltd., Sharp Electronics Corporation, and Sony Corporation.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
10 hrs of free customization and expert consultation
Commercial Display Market Dynamics
The growing use of LED and LCD units for video walls and digital signage applications is one of the key factors driving the market. Furthermore, the growing usage of Organic Light Emitting Diode (OLED) displays in a number of applications, as well as increased creation of Super High Definition (HD) material by advertising organizations for a variety of marketing purposes, are likely to propel market growth. Growing demand for interactive screens on commercial unit walls or tables, the creation of a high-resolution screen, and the availability of displays at lower or affordable prices are key drivers driving the market growth. Furthermore, rising demand from various commercial organizations for large-format and industrial-grade panels for advertising, trade shows, seminars, and other celebrity endorsements is likely to boost the market growth.
High power consumption and high display maintenance costs are major constraints that can hamper market progress. In addition to that, COVID-19 and its detrimental impact, which has halted display production worldwide, are a serious hindrance to market expansion. Apart from this, increased use of commercial displays in areas such as hospitality, entertainment, banking, healthcare, education, and transportation is expected to drive market expansion. Key companies' technological innovation and R&D expenditure in order to create novel displays with sophisticated features are providing significant market expansion opportunities.
Commercial Display Market Segmentation
Market by Product
· Display TVs
· Display Monitor
· Digital Signage
o Video Screens
o Video Walls
o Digital Posters
o Transparent LED Screens
In terms of product, the digital signage segment held the greatest market share in 2021. The rising popularity of technologically enhanced promotional or commercial efforts, notably in the retail and entertainment industries, is driving up demand for digital signage. A digital signage platform is a centralized media distribution network that allows information to be presented on several display screens at once. It uses content management software (CMS) and a back-end operating computer linked to a media player to display advertisements or messages to a specified audience. It uses LCD, LED, projectors, and plasma displays to project or display information such as live news, weather forecasts, television programs, menus, flight schedules, directories, and advertisements.
Market by Technology
The LCD category is predicted to account for the lion's share of the commercial display market in 2021, due to the extensive usage of LCD panels in banks and corporate offices worldwide. The reduction of LCD production costs is one of the key factors driving the widespread adoption of LCD technology. LCD displays frequently have higher resolution than LED displays. However, a consumer can get a closer look at the screen without seeing the pixels. As a result, the consumption of LCD screens is expanding segment's growth.
Market by Component
Based on the component, the hardware segment is estimated to increase significantly in the market in the coming years. This expansion might be attributed to the increased demand for hardware as a result of its high wear when compared to the software segment. The market for these things is likely to raise in the coming years as demand for these items, such as accessories, extenders, and band cables grow across various industrial sectors.
Market by Type
· Flat Panel
· Curved Panel
· Other Panel
In terms of type, flat panels will account for more than half of the market in 2021. Flat-panel displays are widely utilized in a variety of end-use sectors, including digital posters, video walls, monitors, and televisions. The flat panel display segment is growing due to increased demand for OLED display devices in mobile phones and tablets, rising demand for automotive display technology, and greater use of engaging touch-based technologies in the education industry.
Market by Size
· Below 32 inches
· 32 to 52 inches
· 52 to 75 inches
· Above 75 inches
In terms of size, the below-32-inch and 32-to-52-inch categories will account for a significant portion of the global market in 2021. Furthermore, as a result of features such as greater clarity and the adoption of energy-efficient technologies like as micro-LED and OLED, demand for larger screens is expected to surge in the future years. As a result, the 52-75-inch category is likely to see increased demand in the coming years. Furthermore, the appropriate digital display size has the potential to transform any commercial space. Whether it's an office at a large corporation or a small local business, a retailer, a pub, or a casino, they all have one thing in common: they all want to engage their customers and provide a memorable and distinctive experience.
Market by Application
· Stadiums & Playgrounds
Based on the application, the retail segment will hold significant market shares in 2021 due to the increased necessity for commercial displays for activities such as branding and promotion services and products. Retail displays are an important aspect of every business since they serve to attract customers, maintain their attention, and increase sales. Window displays may help retail establishments stand out from the crowd by providing them with a distinct look and feel. Effective retail marketing entices potential customers to visit the store. However, good commercial displays appeal to consumers' heads as well as their hearts.
Commercial Display Market Regional Overview
· Rest of Europe
· Rest of Latin America
· South Korea
· Rest of Asia-Pacific
Middle East & Africa
· South Africa
· Rest of Middle East & Africa
North America is predicted to have a substantial share of the market evaluated over the projected timeframe, owing to the presence of certain major players in the region, as well as intensive R&D activities that culminated in the widespread implementation of wide-format screens in the region. Furthermore, the growing numbers of retail and entertainment enterprises in this region, as well as the growing use of electronic devices among the millennial generation in developed nations such as the United States and Canada, are key factors driving regional expansion in the commercial display market. Furthermore, the increase in outdoor advertisements is the primary element driving the growth of this regional industry.
Some of the prominent players in global commercial displaymarket are Cisco Systems, Inc., Dell, Koninklijke Philips N.V., LG Display Co., Ltd., CDW, Japan Display Inc., NEC Display Solutions, Panasonic Corporation, Benq Corp., Samsung Display Co. Ltd., Sharp Electronics Corporation, and Sony Corporation.
The estimated value of global commercial display market in 2021 was accounted to be US$44,985 Mn.
The projected CAGR of commercial display during the analysis period of 2022 to 2030 is 7.5%.
The prominent players of the global commercial display market involve Cisco Systems, Inc., Dell, Koninklijke Philips N.V., LG Display Co., Ltd., CDW, Japan Display Inc., NEC Display Solutions, Panasonic Corporation, Benq Corp., Samsung Display Co. Ltd., Sharp Electronics Corporation, and Sony Corporation.
North America held the dominating share for commercial display during the analysis period of 2022 to 2030
Asia-Pacific region exhibited fastest growing CAGR for commercial display during the analysis period of 2022 to 2030
Growing demands for digital signage in multiple industries, and the rising use of Light Emitting display(LED) for the digital screen are the prominent factors that fuel the growth of global commercial display market
Based on component, hardware segment held the maximum share for commercial display market in 2021