The commercial display market comprises large-format displays that primarily include digital signage, video walls and menu boards. Commercial displays are designed to withstand various environmental conditions such as changing temperatures and humidity levels. They are energy efficient and offer advantages such as crisp imagery, long operational life and require low maintenance. Digital signage has seen increased adoption across retail stores, airports, stadiums and corporate offices for engaging customers, providing information, branding and entertainment.
The Global Commercial Display Market is estimated to be valued at US$ 59.72 Bn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the commercial display market are Cdw Corporation, Cisco Systems, Inc., Dell Technologies Inc., Koninklijke Philips N.V., LG Display Co., Ltd., NEC Display Solutions., Panasonic Corporation, Samsung Electronics Co., Ltd., Sharp Corporation, Sony Corporation. The growing demand for commercial displays with higher resolutions, smaller bezels and touchscreen capabilities from retail, hospitality and corporate verticals is expected to drive Commercial Display Market Growth. Technological advancements like enhanced brightness, wider viewing angles and anti-glare coatings have improved display quality and boosted adoption of commercial displays.
Market Trends
The commercial display market is witnessing increased adoption of large format displays with flexible options. Large displays with modular designs allow rearrangement into multiple configurations. Interactive displays that support multi-user touch and gesture capabilities are gaining popularity. There is also rising demand for outdoor commercial displays with enhanced brightness for daylight visibility. Sustainability initiatives by display brands to introduce eco-friendly displays using recycled materials will influence future purchases.
Market Opportunities
Increased investments in digital infrastructure globally are opening up opportunities for commercial display suppliers. Popularity of experiential retail is driving installations of interactive and AR/VR enabled displays. Demand is rising for transparent LED displays and microLED technologies with their incredibly slim profiles and energy efficiency. Integrations of IoT sensors with Commercial Display Market Challenges And Opportunities will allowing remote monitoring and predictive maintenance of displays.
Impact of COVID-19 on Commercial Display Market
The COVID-19 pandemic has significantly impacted the growth of the commercial display market. During the initial months of the pandemic in 2020, the market experienced a decline in demand due to lockdowns and restrictions imposed globally. This led to shutdowns of offices, retail stores, educational institutions and other commercial establishments where large format displays are installed. As people were confined to their homes, the need for commercial displays reduced significantly. However, as lockdowns eased in late 2020 and 2021, the demand started reviving as commercial establishments gradually reopened with restrictions. The demand was especially high for signage displays used at retail stores, malls and other public places to communicate safety guidelines related to COVID-19. Additionally, with the rise of hybrid work models, many organizations upgraded their video conferencing systems and installed more displays to facilitate collaboration between remote and in-office employees. Going forward, as businesses adapt to the new normal, demand is expected to grow steadily driven by need for digital signage, interactive displays and other commercial applications that enable contactless operations and enhance customer/employee experience in a post-pandemic world. In terms of regions, North America currently accounts for the largest share of the commercial display market in terms of value. This is attributed to high technology adoption across various industries in countries like the US and Canada. Additionally, presence of leading display manufacturers has propelled market growth. However, the Asia Pacific region is poised to be the fastest growing market during the forecast period. Factors such as increasing digitization of public infrastructure, rapid urbanization and industrialization are driving the demand for commercial displays in countries like China, India and South Korea. Rapid economic development along with government initiatives to enhance citizen services through digital solutions will continue to support market expansion.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
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