Reports


Global Commercial Display Market Size, Share, Market Research and Industry Forecast Report, 2025 (Includes Business Impact of COVID-19)

  • TBI423955
  • March 10, 2020
  • Global
  • 132 pages
  • Lucintel
                                              Industry Insights, Market Size, CAGR, High-Level Analysis: Global Commercial Display Market

The global commercial display market size was valued at USD 38,444.66 million in 2018 and is expected to register a CAGR of 7.07% from 2019 to 2025. The global shipment of commercial monitors is expected to exceed 40 million units by 2025. The industry has witnessed shipments of more than 13 million commercial TVs in the year 2018 on account of the inflating demand from different end users of the business sector worldwide.The market for commercial display has witnessed an increasing demand for customized digital signage solutions in different sectors, especially healthcare and public transportation sectors.
Rapid urbanization is leading to the growth of the commercial sector in the developing economies owing to developments in infrastructure and changing lifestyles. Industries such as retail and hospitality are using state-of-the-art, digitized promotional approaches to advertise their products & services in an effective & impactful manner. As a result, the demand for commercial displays is increasing notably and is likely to continue to increase over the forecast period across the world. Additionally, the growing demand for 4K and 8K commercial displays integrated with technologies such as AI upscaling, artificial intelligence, and machine learning is expected to contribute to the growth of the market.
 

Currently, the advertising industry is witnessing increased production of ultra-HD content unlike earlier when the devices used to produce UHD content served limited purposes and were expensive, such as 4K TVs that served limited purposes. The growing production of UHD content by advertisers for various advertising applications is driving the demand for 4K and 8K commercial display products. Furthermore, massive investments from manufacturers for the development of high-end-specification products with increased energy efficiency are also anticipated to drive the market growth. As energy conservation is becoming one of the crucial factors for sustainable development of the business sector, the demand for new technologies such as OLED and micro-LED that help organizations save energy is increasing.
The commercial sector refers to those establishments/organizations engaged in commercial activities other than manufacturing and industrial businesses. The areas considered in the scope of the study include companies, retail chains & stores, hospitality, entertainment, corporate, BFSI, healthcare, education, and transportation. The commercial organizations are increasingly preferring large-sized and commercial-grade displays for advertising, conferences, tutorials, trade shows, and other applications. Thus, the growing demand for commercial displays in these commercial business sectors is anticipated to drive the market growth.
Technological advancements are leading to the development of advanced software solutions for audience engagement, people counting & tracking, and content management. The manufacturers of commercial displays are integrating these software solutions into their products, thereby paving way for remarkable adoption of commercial displays across the globe. However, a significant decline in the year-on-year growth of monitors and TV shipments is likely to hinder the market growth for commercial display. The software and hardware compatibility in digital signage, followed by connectivity issues, are expected to be the restraining factors over the forecast period.
                                                                
Product Insights of Global Commercial Display Market

Based on product, the market for commercial display has been segmented into digital signage, display monitor, and TVs. The digital signage segment accounted for the largest share in terms of revenue in the year 2018 and is expected to dominate the market in the next six years. The segment is further categorized into video walls, video screens, transport LED screens, digital posters, kiosks, others. The penetration of signage products is higher in retail stores such as shopping malls and supermarkets. Furthermore, the growing preference for digital display solutions at commercial places is also driving the growth of the segment. The digital signage product segment is also expected to grow the highest CAGR over the forecast period.
Display monitors are extensively used in sectors such as banking and education. The demand for these products with sizes below 32 inches is high. However, the use of higher-sized, curved, widescreen monitors for specialized applications such as graphic designing and media & advertisement is also increasing. The display TVs segment is expected to witness steady growth with a CAGR exceeding 4% from 2019 to 2025. State-of-the-art technologies such as mini-LED and micro-LED are being incorporated in the latest commercial-grade TVs by manufacturers such as SAMSUNG and LG Display Co., Ltd. Moreover, the players are introducing various types of TV panels such as rollable and flexible panels. In the healthcare sector, these products are widely used in hospitals, clinics, and multi-specialty healthcare centers.

Technology Insights of Global Commercial Display Market

Based on technology, the market for commercial display has been categorized into LCD, LED, and others. LCD has been the widely used technology in display products for a few decades. Currently, many of the business areas, such as corporate offices and banks, are using LCD-based products. The LCD segment held the largest market share (in terms of revenue) in the year 2018 and was a relatively mature segment. The reducing manufacturing costs of LCDs is one of the major factors driving the extensive adoption of the LCD technology.
However, the LED technology segment is expected to account for a prominent market share (in terms of revenue) by 2025. The advancements in LED technology have led to the development of various types of LED displays such as OLED and QLED. These technologies are energy-efficient and are being extensively used by manufacturers in their commercial displays. The other emerging LED technologies are mini-LED and micro-LED. Although mini-LED and micro-LED are relatively new and are yet to penetrate the global market, these technologies are expected to register relatively higher CAGRs over the next six years.

Component Insights of Global Commercial Display Market

Based on component, the market for commercial display has been segmented into hardware, software, and services. The hardware segment held the largest market share in 2018 and is anticipated to continue to dominate the market from 2019 to 2025. The growth of the segment can be attributed to the higher demand for hardware as compared to software. Hardware components include displays, extenders & cables, accessories, and installation equipment.
The software segment accounted for a considerable market share owing to the launch of new and advanced software for digital signage. It is anticipated to register a considerable CAGR of over 6% from 2019 to 2025. The services segment witnessed a relatively higher demand in 2018, as compared to the software segment, owing to the higher maintenance and service requirements of commercial TVs and monitors. The installation of displays in commercial places and convenient connectivity are the primary services covered in the services segment.
Display 
Type Insights of Global Commercial Display Market

Based on display type, the market for commercial display has been segmented into flat panel, curved panel, and other panels. The users from various commercial end-use sectors have been using flat panels for decades owing to their benefits such as low costs and easy availability. Since the emergence of TFT and LCD displays, the business sector has witnessed increased use of flat panel displays. The flat panel segment held the largest share in 2018, accounting for over 60% of the overall market share. Flat-panel displays such as video walls, digital posters, monitors, and TVs are widely used in numerous end-use industries. The segment is expected to continue dominating the market throughout the forecast period.
Curved panels are widely used in application areas such as entertainment, gaming, design, automotive, manufacturing, and so on. These panels are extensively being used in TVs, monitors, smartphones, and wearable devices to meet different demands of customers. However, the market players are actively focusing on the development of flexible panel displays in their display products categories. The others segment, which includes flexible and rollable panel technologies that are in their early development stages, is expected to register the highest CAGR over the forecast period. The rollable panels are also expected to penetrate the market significantly over the next six years.

Application Insights of Global Commercial Display Market

Based on application, the market for commercial display has been segmented into retail, hospitality, entertainment, stadiums & playgrounds, corporate, banking, healthcare, education, and transportation. The retail sector accounted for the largest market share in 2018. It is the most prominent sector demanding digital advertisements for marketing and promoting products & services. The retail companies are adopting a modern approach for advertising. This is leading to high demand for commercial-grade TVs and digital signage.
The hospitality segment is another prominent segment contributing to the growth of the market owing to the growing number of hotels, motels, restaurants, QSRs, cafes, and bars. Such establishments require a large number of display solutions for various applications such as advertisement, menu & food display, and entertainment. The segment is anticipated to exhibit steady growth over the next six years. The transportation sector is expected to emerge as the fastest-growing application segment over the forecast period owing to the development of the transportation sector in developing countries such as China, India, and the Philippines. In the transportation sector, commercial displays are used at places such as airports, railway stations, metro stations, and bus stands for advertising. Advertisers are also extensively using digital displays on buses, cabs, trains, and trams.
Display Size Insights
Based on display size, the market for commercial display has been categorized into below 32 inches, 32 to 52 inches, 52 to 75 inches, and above 75 inches. The below 32 inches and 32 to 52 inches segments generated relatively higher revenues in 2018 and are expected to witness steady growth. Customers are preferring large displays owing to better clarity of display, features such as energy-efficient technologies such as OLED and micro-LED, and high quality of content. As a result, the 52 to 75 inches segment is expected to witness a significant increase in demand over the next six years.
 

However, the above 75 inches segment is expected to register the highest CAGR owing to the growing demand for large-format displays. The customers from sectors such as retail, transportation, and healthcare are adopting large displays for signage applications. The key players such as SAMSUNG and LG Display Co., Ltd. have introduced numerous commercial-grade TVs with display sizes above 75 inches in the last few years owing to their increasing adoption. The manufacturers are making investments in research and development to introduce large-sized displays with the latest technologies for meeting the growing demand.

Regional Insights of Global Commercial Display Market

Based on region, the global commercial display market has been segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America accounted for more than 30% of the market share in 2018 owing to the presence of the key market players. Companies such as SAMSUNG, TCL North America, and so on have acquired a strong customer base in the region. Additionally, there is significant adoption of advanced display solutions across various sectors and this is expected to further spur the regional market growth. The North American regional market is expected to reach a market size of more than USD 18,000 million by 2025.
Asia Pacific is expected to witness substantial growth, registering the highest CAGR of 7.03% from 2019 to 2025. The growth of the region can be attributed to rapid urbanization in developing countries and the growing adoption of commercial displays in healthcare, hospitality, transportation, and retail sectors. Additionally, the region is characterized by the presence of manufacturers, OEMs, and a large customer base. Companies such as SAMSUNG, Sharp Electronics Corporation, and Panasonic Corporation based in the region are significantly contributing to the regional market growth.
Commercial Display Market Share Insights
Market players are increasingly investing in research & development of new technologies such as transparent panels in response to the growing demand for advanced display technology from hospitality, transportation, and healthcare application areas. The advanced technologies in digital signage and TVs are anticipated to boost the growth of the market. For instance, SAMSUNG introduced The Wall, a TV with self-emitting micrometer scale LEDs. Such micrometer scale LEDs eliminate the need for color filters or backlight as they serve as the source of color and light. The company’s TV with MicroLED technology exceeds a screen size of more than 200 inches.
CDW; Cisco Systems, Inc.; Dell; Koninklijke Philips N.V.; LG Display Co., Ltd.; NEC Display Solutions; Panasonic Corporation; SAMSUNG; Sharp Electronics Corporation; and Sony Corporation are some of the prominent market players. The manufacturers are integrating their display products with AI-based solutions, remote hardware, and state-of-the-art software to stay ahead of the competition. The market is categorized by the presence of numerous publicly operated companies that have established a strong presence in the market. Such players account for a major part of total market share, thereby dominating the market for commercial display.  

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Global Commercial Display Market Research Report
The report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. Additionally, the report covers global shipment estimates and forecasts from 2014 to 2025. For the purpose of this study, this market research report has segmented the global commercial display market report based on product, technology, component, display type, application, display size, and region


Product Outlook (Revenue, USD Million, 2019 - 2030)


Digital Signage


Video Walls


Video Screens


Transparent LED Screens


Digital Posters


Kiosks


Others


Display Monitor


Display TVs


Technology Outlook (Revenue, USD Million, 2019 - 2030)


LCD


LED


Mini LED


Micro LED


Other LED


Others


Component Outlook (Revenue, USD Million, 2019 - 2030)


Hardware


Software


Services


Type Outlook (Revenue, USD Million, 2019 - 2030)


Flat Panel


Curved Panel


Other Panel


Size Outlook (Revenue, USD Million, 2019 - 2030)


Below 32 inches


32 to 52 inches


52 to 75 inches


Above 75 inches


Size Outlook (Shipment, Thousand Units, 2019 - 2030)


Below 32 inches


32 to 52 inches


52 to 75 inches


Above 75 inches


Application Outlook (Revenue, USD Million, 2019 - 2030)


Retail


Hospitality


Entertainment


Stadiums & Playgrounds


Corporate


Banking


Healthcare


Education


Transportation

 

Table of Contents
Chapter 1 Methodology and Scope                   1.1 Research Methodology                   1.2 Research Scope and Assumptions                   1.3 List of Data SourcesChapter 2 Executive Summary                   2.1 Commercial Display - Industry Snapshot & Key Buying Criteria, 2014 - 2025                   2.2 Global Commercial Display Market Shipment, by Display Size, 2014 - 2025 (Thousand Units)Chapter 3 Market Variables, Trends, and Scope                   3.1 Market Segmentation and Scope                   3.2 Commercial Display Market Size and Growth Prospects       
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