(EnergyIndustry.Net, August 03, 2022 ) According to a new market research report titled, “Interactive Display Market by Product (Interactive Flat Panel Display, Interactive Whiteboard, Interactive Kiosk, Interactive Video Wall), Panel Size, Technology, End-User (Retail, Healthcare, Corporate & Government, Education, Hospitality), and Geography – Global Forecast to 2027’, the interactive display market is projected to reach $35.03 billion by 2027, growing at a CAGR of 8.08% during the forecast period. The interactive display market is driven by factors such as the increasing demand for interactive signages and kiosks, declining cost of interactive displays, and rising adoption of interactive learning solutions in classrooms. However, the high cost of component installation & maintenance and compatibility issues are the key factors hampering the growth of this market to some extent.
The outbreak of the COVID-19 pandemic has caused a widespread economic downturn as several countries imposed strict lockdowns to contain the infection. This has affected diverse industries; manufacturing is one of the severely impacted. The interactive display market is estimated to experience a decline in sales in 2020. Factors such as declining demand for public information displays (PIDs), a complete shutdown of offline retail stores, contraction in the hospitality sector, and close down of schools & offices have adversely impacted the market for interactive displays. The market is expected to witness product delays and global shortages. However, a positive outlook is being anticipated for 2021, with slow recovery in the retail, corporate, and education sectors.
Based on product, the interactive kiosks segment is expected to command the largest share of the overall interactive display market in 2020. The large share of this segment is mainly attributed to the increasing implementation of kiosks in retail stores to enhance the shopping experience and drive sales & adoption in transportation & hospitality for easy check-ins and wayfinding. However, the interactive video walls segment is estimated to grow at the highest CAGR during the forecast period. The rising implementation of interactive video walls in museums, exhibitions, sports arenas, corporate buildings, universities, and innovation centers is one of the major drivers for the growth of this market.
Based on panel size, the 32”-65” panel size segment is projected to account for the largest share of the overall interactive display market in 2020. The large share of this segment is primarily attributed to the widespread use of this panel across the healthcare, retail, and hospitality industries. However, the 65” and above panel size segment is expected to grow at the highest CAGR during the forecast period. The high growth rate of this segment is mainly attributed to the high demand for large interactive displays in BFSI and entertainment sectors.
Based on technology, the LCD segment is expected to command the largest share of the market in 2020. The declining prices of LCD interactive displays is one of the major drivers for the growth of this segment. However, the OLED segment is expected to grow at the highest CAGR during the forecast period. The advancement in technology enables the production of transparent OLED interactive displays, which are being used in shows, exhibitions, and events.
Based on end user, the retail segment is poised to account for the largest share of the overall interactive display market in 2020. The large share of this segment is primarily attributed to the widespread implementation of interactive signages and interactive kiosks in retail stores. Retailers can understand shopper behavior with product engagement insights, thus improving merchandising, pricing, and content. However, the hospitality segment is projected to grow at the highest CAGR during the forecast period. The hospitality segment is projected to grow with the fastest CAGR during the forecast period. This is primarily due to the rapid adoption of interactive flat panel displays and interactive kiosks in hotels and restaurants to enable customers in wayfinding, event notification, check-ins, and social media displays for a smooth and enjoyable experience.
This research report analyzes major geographies and provides a comprehensive analysis for North America (U.S. and Canada), Europe (Germany, U.K., France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and Rest of Asia-Pacific), Latin America, and the Middle East & Africa. In 2020, North America is projected to command the largest share of the global interactive display market, followed by Asia-Pacific and Europe. The large share in the North American region is mainly attributed to the increasing adoption of interactive learning in both schools and colleges, high demand for interactive flat panel displays in the corporate sector, and adoption of interactive tables in restaurants and events.
However, the Asia-Pacific region is projected to show lucrative growth potential for the interactive display market during the analysis period. This is due to the ever-increasing retail market in the region, bolstering the growth of interactive retail display solutions.
The key players operating in the global interactive display market are Samsung Electronics (South Korea), NEC Corporation (Japan), LG Display (South Korea), Leyard Optoelectronic (China), Sharp (Japan), Panasonic Corporation (Japan), ViewSonic (US), Elo Touch Solutions (US), Crystal Display Systems (UK), Horizon Display (US), BenQ Corporation (Taiwan), Promethean World Ltd (US), Pro Display Group (UK), SMART Technologies (Canada), and TableConnect GmbH (Austria) among others.