Wednesday, February 28, 2024

Industrial Display System Market Expected to Grow at a CAGR of 6.8% from 2020 to 2027

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Industrial Display System Market Insights:

The global Industrial Display System Market is expected to grow at a CAGR of 6.8% from 2020 to 2027, according to the latest report by Market Research Future (MRFR). The report provides a comprehensive analysis of the market’s current state and future prospects, along with key trends, drivers, challenges, and opportunities.

The market growth is attributed to the increasing demand for HMI (Human Machine Interface) devices and the growing trend of industrial automation. Industrial display systems are used in various applications, including process control, automation control, and machine control. These systems provide real-time information about the operation of the system, which helps in improving productivity and reducing downtime.

Moreover, the growing demand for high-quality visualization in the healthcare and entertainment industries is expected to fuel the growth of the industrial display system market. The increasing adoption of IoT (Internet of Things) devices and the rising demand for Industry 4.0 are also expected to drive market growth during the forecast period.

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Industrial Display System Market Key Players:

Some of the key players in the industrial display system market include

  • Samsung Electronics Co., Ltd. (South Korea),
  • LG Display Co., Ltd. (South Korea),
  • Panasonic Corporation (Japan),
  • Innolux Corporation (Taiwan),
  • Advantech Co., Ltd. (Taiwan),
  • Siemens AG (Germany),
  • Schneider Electric SE (France),
  • General Electric Company (US),
  • Mitsubishi Electric Corporation (Japan),
  • Honeywell International Inc. (US),
  • Rockwell Automation, Inc. (US), and
  • ABB Ltd. (Switzerland), among others.

Industrial Display System Market Segmentation:

The industrial display system market is segmented based on type, technology, application, and region. Based on type, the market is segmented into open frame, rugged displays, panel-mount, and standalone displays. The panel-mount segment is expected to dominate the market during the forecast period due to its compact design and easy installation.

Based on technology, the market is segmented into LCD, LED, OLED, and others. The LCD segment is expected to dominate the market during the forecast period due to its low power consumption and high image quality.

Based on application, the market is segmented into automotive, aerospace & defense, healthcare, oil & gas, energy & power, food & beverages, and others. The healthcare segment is expected to dominate the market during the forecast period due to the increasing adoption of advanced visualization systems in medical applications.

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Regional Analysis:

The global industrial display system market is studied for North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific is expected to dominate the market during the forecast period due to the increasing adoption of automation technologies in various industries. Moreover, the growing demand for display systems in the automotive and healthcare industries is expected to fuel market growth in the region.

Industry Trends:

One of the key trends in the industrial display system market is the growing demand for touchscreens. Touchscreens provide a user-friendly interface, which makes them ideal for industrial applications. The use of touchscreens has increased significantly in the automotive and healthcare industries, where they are used for controlling various systems.

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Another trend in the market is the increasing use of rugged displays. Rugged displays are designed to withstand harsh environments and are widely used in the military, aerospace, and oil & gas industries. The demand for rugged displays is expected to increase during the forecast period due to the growing need for reliable and durable display systems.

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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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