- High dynamic nature of interactive displays had led to the growth of the market.
- Customer engagement with interactive displays is also driving the market growth.
- Cheap labor charge is also one of the important reasons that are boosting the global market.
Global Interactive Display Market is expected to grow from $7.3 billion in 2017 to $14.7 billion by 2025 at a CAGR of 9.1% during the forecast period from 2018-2025. North America is dominating the market as interactive whiteboards are incorporated on a large scale in the Americas in education and government and corporate sector. Also, a significant number of prominent companies offering interactive displays are based in this region.
Leading companies in the industry include LG Display Co., Ltd., Samsung Display Co., GestureTek Inc., Planar Systems Inc., BenQ Corp., NEC Display Solutions Ltd., Sharp Corp which are offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share. For instance, In September 2018, Sharp announced the launch of its flagship 80” 4K BIG PAD interactive display, expanding its 4K BIG PAD line-up to offer a choice of sizes.
The product segment is classified interactive kiosks, interactive whiteboard, interactive table, interactive video wall and interactive monitor. The interactive kiosks segment is dominating the market and valued around $2.85 billion in 2017. Interactive kiosks enable retailers to provide a high level of satisfaction to consumers by offering them greater control over their purchase decisions. Through interactive kiosks, customers can choose and buy products on their own, without the assistance of the store staff. Interactive kiosks are user-friendly compared to other informative devices and can accomplish complex tasks in less time on the back of the innovative technology.
Panel Size segment is divided into segments such as 17”–32” panel size, 32”–65” panel size, 65” and above panel size. The 32”–65” Panel Size segment is dominating the market with the highest share 49.30% in 2017. 32”-65” interactive displays are in great demand in retail, healthcare, hospitality, and entertainment sectors for improving the overall visual experience in for wayfinding, signage, and other self-service applications.
Vertical segment includes retail & hospitality, banking (BFSI), industrial, healthcare, corporate & government, transportation, education, sports and entertainment, others. The transportation segment is dominating the interactive display market and valued around $1.70 billion in 2017 owing to its services such as making reservations, knowing ticket price, getting schedules of arrival and departure, receiving real-time status updates of reservation, and others. They also facilitate wayfinding for travelers and advertise brands, allowing providers to quickly and efficiently communicate to customers the requirements for traveling.
High dynamic nature of interactive displays had led to growth of the market. Also, increasing adoption of interactive displays in educational institutes and customer engagement with interactive displays are also driving the market growth. But high value for maintenance of the interactive displays may hinder the growth of market. However, growth prospects in healthcare and entertainment applications should drive the industry growth in coming years.