CHICAGO, Aug. 26, 2020 /PRNewswire/ -- According to the new market research report "Commercial Touch Display Market by Product (Monitors, Signage Displays, POS Terminals, Open Frame Touchscreen Displays, and Medical Displays), Touch Technology, Resolution, Application, Size, Aspect Ratio, Industry, and Geography - Global Forecast to 2025", published by MarketsandMarkets, the Commercial Touch Display Market size was valued at USD 4.3 billion in 2020 and is projected to reach USD 7.6 billion by 2025. It is expected to grow at a CAGR of 12.1% during the forecast period. High adoption of touchscreen displays in retail, hospitality, healthcare, and transportation verticals, dynamic nature of touchscreen displays leads to enhanced customer experience, and rapid adoption of technologically advanced, energy-efficient, attractive, and high-end-specification display products are the key driving factors for the commercial touch display market.
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Open frame touchscreen to account for the largest share of the commercial touch display market
Open frame touchscreen displays accounted for the largest share of the commercial touch display market in 2019, and a similar trendis likely to be observed in the coming years owing to the high demand for these products to install at several places, such as retail stores, airports, hospitals, school campuses, government offices, and entertainment places. These displays are used for various functions, such as ticketing,food vending, cash dispensing, and check-in. Due to rapid advancements in technology, companies focus on developing innovative products with a variety of additional features. Researchers associated with different companies are focusing on integrating new technologies in conventional open frame touchscreen displays to make them user-friendly and interactive. Artificial intelligence (AI) is one such technology that provides huge opportunities for the market to grow.
Infrared touch technology to witness a higher CAGR during the forecast period.
Infrared (IR) technology - based touch screens are expected to witness the highest growth rates during forecast period owing to their highest image clarity, as well as light transmission capability, exceptional level of strength and durability. These displays can also be used with a bare finger, gloved finger, and stylus. Infrared touch screen devices are protected against scratches, finger prints, and other forms of minor damage. This makes it particularly beneficial when used to produce large touchscreen displays, along with medium-sized displays of size ranging from 32-65 inches.
Browse in-depth TOC on "Commercial Touch Display Market"
60 - Tables
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North America to account for the largest share of the commercial touch display market by 2025
The North American commercial touch display market has witnessed significant advancements in the past few years. The commercial touch market in North America is driven by various Factors, such as the increased need for quick, high-accuracy services, better standard of living compared to other regions, and high efficiency in retail services. The retail sector in the region is moving toward a more solution-oriented approach. This has motivated manufacturers to come up with highly automated products. The favorable economic conditions prevailing in North America and the high demand for touch displays among customers have encouraged various end-user industries, involved in main stream automated operations, to carry out easy and quick point-of-sale (POS) services. The US accounts for the largest demand for commercial touch display-based products including monitors, signage displays, open frame touchscreen displays, and medical displays used in industries such as corporate, retail, BFSI, sports & entertainment, and education for advertisement, way-finding, and displaying information.
A few of the key players in the commercial touch display market are Samsung Electronics (South Korea), Leyard Optoelectronics (Planar) (China), LG Electronics (South Korea), Innolux Corporation (Taiwan), BOE Technology (China), Sharp (Foxconn) (Japan), NEC Corporation (Japan), Qisda Corp. (Taiwan), AU Optronics (Taiwan), and Panasonic (Japan).
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