Newark, NJ, June 15, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global Interactive Video Wall market is expected to grow from USD 5.45 billion in 2020 to USD 12.13 billion by 2028, at a CAGR of 10.5% during the forecast period 2021-2028.
The growth of the market is supported by various driving factors such as the advancement of technologies, the increasing reliance on interactive displays in public places such as airports, while the high cost of implementation is the main factor that may hinder the growth of this market. The emergence of the 3D video wall creates an opportunity for companies that provide interactive video walls to not only grow in terms of revenue but customers as well.
An interactive video wall is formed by attaching different screens to create one large screen. The interactive video wall is able to withstand extreme outdoor conditions. Many of the big players in the market are focusing on developing improved and technologically advanced interactive video wall solutions. The growing popularity of advanced, easy-to-use video walls is helping to grow this market.
Among the many interactive display products, the interactive table, also known as the touch table, is expected to grow significantly in hospitality and education applications. The product has high growth potential, but factors such as high price and lack of availability are major limitations of this product. Although there is a demand in the market for interactive tables, most people want to customize their tables according to the needs of the industry and the environment. Hence, custom-made production of touch tables becomes very difficult and expensive every time.
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Key players operating in the global interactive video wall market include Christie Digital Systems Inc., eyefactive GmbH, Prestop B.V., IDEUM, Intermedia Touch, Planar, Panasonic Corporation, MultiTaction, Pro Display, and Leyard Optoelectronic. To gain a significant market share in the global Interactive Video Wall market, the key players are now focusing on adopting different strategies such as product mergers, innovations & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
- In August 2019, Prestop B.V. launched PCAP Video Wall with 46 or 55-inches screens. These screens are designed with popup brackets for use as a regular video wall. Moreover, with PCAP screens, these walls can be built up to 20 meters wide and 4 meters high.
Standard layout segment dominated the market and held the largest market share of 52% in the year 2020
On the basis of layout, the global interactive video wall market is segmented into standard and custom layouts. The standard layout segment dominated the market and held the largest market share of 52% in the year 2020. This growth is attributed to the interactive landscaping and vertical video walls, which are mainly used in museums, trade fairs, galleries, education and hospitality sectors as well, these walls are used in restaurants as menu boards to indicate prices, menu and waiting time for customers. Moreover, the increasing demand for high-definition multi-touch displays, especially in conference rooms and retail venues, boosts the demand for horizontal and vertical touch screen video walls.
LED segment dominated the market and held the largest market share of approximately 48% in the year 2020
On the basis of display, the global interactive video wall market is segmented into LED, LCD, LPD and others. The LED segment dominated the market and held the largest market share of approximately 48% in the year 2020. This growth is attributed to the expanding number of outdoor events such as product launches, political gatherings, concerts and sporting events. Factors such as low power consumption, high brightness, and lightweight that lead to easy portability are contributing to the increase in demand.
32 to 65 inches panel size segment dominated the market and held the largest market share in the year 2020
On the basis of panel size, the global interactive video wall market is segmented into 17 to 32 inches, 32 to 65 inches, 65 inches and above panel sizes. The 32 to 65 inches panel size segment dominated the market and held the largest market share in the year 2020. This growth is attributed to their use in the healthcare and hospitality sectors. Further, these screens are also used in restaurants as menu boards to indicate prices, ingredients, and waiting time of the orders taken from customers is increasing the demand for this segment.
Retail segment dominated the market and held the largest market share of approximately 21% in the year 2020
On the basis of end-user, the global interactive video wall market is segmented into retail, corporate, transportation, healthcare, hospitality, museum and others. The retail segment dominated the market and held the largest market share of approximately 21% in the year 2020. The growth has been attributed to touching video walls that allow customers to browse store inventory and check the availability of inventory at a specific location. Advances in technology, such as the recent introduction of LED interactive video walls offering high-definition picture quality and virtually unlimited displays, have positively affected product adoption in the retail sector.
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Regional Segment of Interactive Video Wall Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
Based on geography, the global interactive video wall market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America region holds the largest market share of 30% in the year 2020. This growth has been confirmed by the U.S. in the North American region due to the large spread of technology and the myriad of e-learning platforms across the education sector, where interactive learning is highly preferred. Europe will also record a stable growth rate during the forecast period. Countries in the Asia Pacific will also contribute a large share of the global interactive video wall market, driven by a strong foothold by the BFSI sector, increased adoption of advanced technologies, and increased popularity of online games.
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About the report:
The global interactive video wall market is analysed on the basis of value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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