Commercial Display Market Size Worth Around US$ 72.4 Bn by 2030

London, Dec. 28, 2021 (GLOBE NEWSWIRE) -- According to Precedence Research, the global commercial display market size was reach at US$ 41.2 billion in 2020. The global commercial display market is primarily driven by the rising demand for the digital displays among the various end use sectors such as banking, corporates, retail, and entertainment for the promotion and advertisement of their products and services. The technological advancements in the display technology and increasing demand for the energy efficient displays is driving the growth of the commercial display market across the globe.

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Rapid industrialization and rapid urbanization, rising government expenditure on the development of infrastructure, and changing lifestyle of the consumers is fostering the growth of the commercial display market.Moreover, rising integration of technologies such as AI and machine learning in the commercial displays is fueling the market growth across the globe. The introduction of 4K and 8K displays is ramping up the production of ultra-HD advertising content, which is significantly contributing towards the market growth.

Regional Snapshot

North America dominated the global commercial display market, garnering a significant market share of around 31% in 2020. The higher adoption rate of advanced ad digital technologies among the various industries for the promotion and advertisement of their products and services has significant contributions in the market growth. Furthermore, the increased penetration of retail units and hospitality units such as shopping malls, restaurants, cafes, and bars has huge requirement of the commercial displays that fostered the growth of the commercial display market in the North America region.

Asia Pacific is expected to be the fastest-growing market in the forthcoming years. The region is home to around 60% of the global population and rapid urbanization of this region is poised to drive the penetration of numerous commercial complexes in the region. Therefore, the demand for the commercial displays is rapidly rising in the Asia Pacific.

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Scope of the Commercial Display Market

Market Dynamics

Driver

Extensive use of commercial displays in hospitality and retail sector

The commercial displays are extensively used in the retail and hospitality sector owing to the high number of footfall in such units. Moreover, the ability of the commercial displays to effectively display the ads and promotions in the high lighting ambience is boosting the adoption of the commercial displays across the globe. The cost-effectiveness and energy efficiency in the latest commercial displays owing to the technological advancements is expected to drive the market growth during the forecast period.

Restraints

The rising consciousness about health and various infections like COVID-19 may decrease the number of footfall in the commercial units and other public places. The recent outbreak of the COVID-19 pandemic resulted in travelling restrictions and worldwide lockdown that drastically and negatively impacted the market growth. Such events can hinder the market growth in the future.

Opportunities

The rising popularity of the latest technologies such as QLED, OLED, mini-LED, and micro-LED are expected to be the major drivers of the market. The latest cost-effective display solution are expected to penetrate faster in various commercial units like restaurants, bars, and cafes and hence would drive the market growth in the upcoming future.

Challenges

The rising penetration of social media and increasing popularity of the digital and social media marketing may reduce the importance of the traditional commercial displays. The rising number of internet users is shifting the focus of the different industries to invest heavily on the social media marketing. This is expected to be a major challenge for the players operating in the commercial display market.

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Report Highlights

• Based on the product, the digital signage is the dominating and the fastest-growing segment throughout the forecast period.The rapid growth of the organized retail sector across the globe has boosted the adoption of the digital signage. The shopping malls are the most popular commercial unit that increasingly adopts the digital signage. This is mainly due to the higher foot-fall in the shopping malls. Furthermore, the increased popularity of the hypermarkets and supermarkets in the developed regions has increased the demand for the digital signage.
  
  
• Based on the display type, the flat panel dominated the market in 2020. The low cost of production and easy availability of the flat panel is a major reason behind the increased adoption of the flat panels across the global markets. It is the most widely adopted display type among the end use industries.
  
  
• Based on the component, the software is estimated to be the fastest-growing segment during the forecast period, due to the rapid advancements and upgradations in the development of the software. Software is the main organizer and the manager of the contents displayed on the screens and the technological advancements in the software can increase the efficiency of the software.
  
  
• Based on the technology, the LCD dominated the market in 2020. It is one of the widely accepted technologies across the globe. LCDs had been extensively adopted by the various industries owing to its lower production cost, easy availability, and easy maintenance of various advertisement contents, which fosters the growth of the LCD all over the globe.
  
  
• Based on the application, the hospitality is estimated to be the most opportunistic segment during the forecast period. This is attributed to the increased penetration of various fast-food chains such as KFC, Pizza Hut, Subway, Domino’s, and Yum Brands that extensively uses the commercial displays to showcase their on-going offers, promotions, advertisements, and menus. This has resulted in the significant growth of this segment.
  
  

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Segments Covered in the Report

By Product

• Digital Signage
• Display TVs
• Display Monitor
  
  

By Display Type

• Curved Panel
• Flat Panel
• Others
  
  

By Component

• Software
• Hardware
• Services
  
  

By Technology

• LCD
• LED
• Others
  
  

By Application

• Hospitality
• Entertainment
• Retail
• Corporate
• Stadiums & Playgrounds
• Healthcare
• Education
• Banking
• Transportation
  
  

By Geography

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Rest of the World
  
  

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