Interactive display market growth driver, opportunity, segmentation and regional analysis

Interactive display market

A mounted device known as an interactive display allows users to create eye-catching visual presentations and manage on-screen data using touchscreen interactions on a computer. Interactive LCD panels are appropriate for collaborative settings ranging from modest preschool classrooms to large corporate boardrooms and are available in several sizes. Since more than 77% of Americans own a smartphone and an estimated 95% of Americans own a mobile phone of some kind, cutting-edge technology companies created interactive flat panel displays to assist business and educational professionals in maximizing the potential of personal communication on a larger scale.

 

The global interactive display market was $35 billion in 2021 and is anticipated to grow to $79.212 billion by 2030, with a forecasted CAGR of 9.5%. In 2021, North America dominated and occupied more than 25% of the worldwide market.

 

Global interactive display market: key drivers and restraints

 

  • The increasing use of interactive displays in airports and railway stations to provide consumers with information about arrival and departure timing, reservations, ticket prices, and the real-time status of trains and flights is expected to accelerate market growth.
  • The growing use of digital classrooms for active learning in universities and schools is expected to drive the interactive display market forward.
  • The increasing use of interactive displays in the retail sector to provide information about product availability by category is expected to drive the growth of the interactive display market. Furthermore, interactive displays are used in the retail sector in various ways, including Point of Sale (POS) systems, kiosks, ATMs, and digital signage, to attract customers and expand businesses. It also provides improved user engagement and shopping experiences, driving the global interactive display market forward.
  • Furthermore, the use of artificial intelligence in interactive display systems and the growing use of interactive displays in the healthcare sector are expected to drive market growth over the forecast period.
  • The decreasing price of interactive display devices, combined with the popularity of HD displays, is a major factor limiting the interactive display market. Furthermore, regular maintenance and privacy concerns could be one of the factors holding back the market.

 

Opportunities / Trends

 

  • Because of the rapid advancement of technology, businesses are focusing on innovation to provide variety and extra features in their products. Researchers collaborated with various firms focused on incorporating new technologies into the traditional interactive whiteboard to make it more engaging and user-friendly. Artificial intelligence is one such technology that has enormous potential for expanding the interactive display market for interactive whiteboards. ViewSonic, for example, released the TD2455 24-inch monitor, a revolutionary 10-point touch display, in December 2019. This device allows for more hands-on control in interactive classrooms and more efficient workspaces. Effective classrooms and workspaces can be attributed to artificial intelligence and excellent ergonomic design.
  • Touch-based gadgets are becoming more widely available, and the number of devices equipped with touch sensors is increasing. The fact that touch-based devices require a display panel to function contributes to the proliferation of display devices. As a result, many home appliances, such as chimneys, refrigerators, washing machines, and microwaves, have touch-sensitive displays. In addition, the automotive industry has increased the availability of sophisticated display devices in vehicles, such as heads-up displays, navigation systems, digital rear-view mirrors, and others. Furthermore, digital and touch-based displays have grown in popularity because of the intricate and robust architecture of commercial structures such as malls, entertainment centers, and others. This will provide an opportunity for future market growth.

 

Segmentation analysis

 

  • Interactive kiosks dominated the overall market by product

 

In 2021 interactive kiosks segmented had a market share of more than 72%. The growing demand for interactive kiosks in retail centers is primarily responsible for this segment’s size. Furthermore, the growth of smart cities is increasing the demand for interactive kiosks. On the other hand, the interactive video walls segment is expected to grow at the fastest CAGR during the forecast period.

 

 

  • Based on end-user, the retail sector dominated the interactive display market.

 

The Banking, Financial Services, and Insurance sector dominated the industry in 2020, accounting for 32.2 % of the market. It is expected that the demand for touch-enabled displays will increase in the retail industry over the next few years due to the growing popularity of touch-based devices, increased use of interactive kiosks, and increased demand for interactive tables.

 

Regional analysis

 

  • The global interactive display market is divided into five regions: North America, Europe, Asia Pacific, the Middle East, Africa, and South America.
  • With a market share of around 27%, North America ruled the market in 2020 due to the increasing adoption of interactive displays among end-users and the high adoption of technologically advanced devices, accelerating the region’s interactive display market growth.
  • The interactive display market in the Asia Pacific is expected to grow significantly due to rising government infrastructure investment in developing countries for smart cities. The Chinese government has launched the ‘Made in China 2025’ initiative to promote industrial growth. Similarly, India launched the ‘Make in India’ initiative, all of which are expected to fuel the growth of the Asia Pacific interactive display market. Furthermore, increased government investment in the education sector is expected to support the growth of the Asia Pacific interactive display market.

 

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