DALLAS, June 14, 2022 (GLOBE NEWSWIRE) -- The global commercial display market size is estimated to grow a CAGR above 7% over the forecast timeframe and reach a market value of US$ 84.7 billion by 2030.
Advertising is essential for a business since it serves as both an advertisement and promotional strategy. It is significant for an economy as a business activity. Advertising instructs clients about the brands accessible on the market as well as the diversity of products that can be valuable to them. Advertising is the same for everyone, including children of all ages. It is performed by utilizing a variety of media types, and the most effective tactics and procedures. Businesses utilize advertising to achieve several objectives, and those advertisements are distributed through a variety of media. However, commercial displays are one of the advertising tactics that use massive digital screens to advertise and promote brands' products and services to large groups of people.
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The commercial display is a sub-segment of electronic displays that can be managed centrally or individually to display text, animation, or video messages to a global audience. These displays are extensively used in the retail and wholesale industries since they have a lengthy warranty and can run from 20 to 24 hours per day. Commercial displays with a versatile, clean, elegant design, cost-effectiveness, and user-friendliness are energy-efficient and catch customers' imaginations. Due to the proliferation of customer engagement devices and applications, it is critical in today's business environment to deploy efficient advertising solutions. Digital signage is one of the commercial displays with a low-cost medium for promoting and branding any product or service.
Report Coverage:
| Market | Commercial Display Market |
| Market Size 2021 | US$ 45 Bn |
| Market Forecast 2030 | US$ 84.7 Bn |
| CAGR (2022 - 2030) | Over 7% |
| Analysis Period | 2018 - 2030 |
| Base Year | 2021 |
| Forecast Data | 2022 - 2030 |
| Segments Covered | By Product, By Technology, By Component, By Type, By Size, By Application, By Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled | Cisco Systems, Inc., Dell, Koninklijke Philips N.V., LG Display Co., Ltd., CDW, Japan Display Inc., NEC Display Solutions, Panasonic Corporation, Benq Corp., Samsung Display Co. Ltd., Sharp Electronics Corporation, and Sony Corporation. |
| Report Coverage | Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
| Customization Scope | 10 hrs of free customization and expert consultation |
Global Commercial Display Market Growth Aspects
Growing demand for digital screens in various end-use industries such as corporate, finance, retail, and tourism for service and product advertising and promotion is driving the global commercial display market. Furthermore, Fast urbanization and rapid population growth, rising government expenditure on infrastructure construction, and changing consumer lifestyles are fueling the expansion of the commercial display industry. Display technology advancements and increased demand for energy-efficient panels are moving the worldwide commercial display market forward. Additionally, the growing integration of technologies such as Artificial intelligence and deep learning in commercial displays is supporting market expansion globally. The advent of 4K and 8K screens is increasing the production of ultra-HD advertising, which is contributing significantly to market growth.
Currently, the COVID-19 epidemic has had a negative impact on the display industry since governments around the world have enforced temporary prohibitions and limits on all operations. China, as the premier manufacturing center for electronic items and materials, has also taken a significant financial hit because of its influence on the production environment. Furthermore, the high cost of the advanced display and the ease of availability of product alternatives are expected to pose a challenge to the commercial display industry in the coming years.
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Regional Overview
North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are the regional classification of the global commercial display market. The Asia-Pacific market is expected to grow at a significant CAGR during the forecast period, due to the significant growth of its retail business and the shift from a product-centric to a customer-centric approach due to increased competition and changing customer behavior in high-potential regions such as Japan, China, South Korea, and India. Furthermore, rapid urbanization and industrialization also contribute to the region's growth, which leads to the expansion of numerous businesses and the increasing use of commercial displays in the region's hotel, healthcare, transportation, and retail industries.
Additionally, the shifting trend toward the use of these display solutions across a wide range of industries is expected to drive North America market expansion in the coming years. Furthermore, the increasing penetration of retail and hospitality units such as restaurants, shopping malls, cafes, and bars has created a strong demand for commercial displays, which has supported the growth of the North American commercial display market.
Market Segmentation
The global commercial display market has been segmented by Acumen Research and Consulting based on product, technology, components, type, size, and application. Based on the product, the market is divided into display TVs, display monitor, and digital signage. Based on technology, the market split into LCD, LED, and others. Based on components, the market is classified into hardware, software, and services. Based on type, the market is categorized into flat panel, curved panel, and others. Based on size, the market is segmented into below 32 inches, 32 to 52 inches, 52 to 75 inches, and above 75 inches. Based on application, the market is fragmented into below retail, entertainment, hospitality, corporate, healthcare, stadiums & playgrounds, banking, education, and transportation.
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Major Players
Some key players covered global in the commercial display industry are Cisco Systems, Inc., Dell, Koninklijke Philips N.V., LG Display Co., Ltd., CDW, Japan Display Inc., NEC Display Solutions, Panasonic Corporation, Benq Corp., Samsung Display Co. Ltd., Sharp Electronics Corporation, and Sony Corporation.
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The global virtual reality advertisement market is anticipated to grow at a CAGR of around 21.1% during the forecast period 2022 to 2030 and reach around US$ 1,899 Mn by 2030.
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