Display Market Anticipated to grow significantly in the next six years
Date: 2018-08-08   Author: Ronak Bora  Category: #market

Display Market Anticipated to grow significantly in the next six years

Global Display Market set to reach USD 20 billion by 2024. The rapid proliferation of devices such as smart ATMs, intelligent interactive kiosks, and NFC-enabled POS systems is expected to propel the display market growth over the next seven years. The deployment of smart ATMs is increasing significantly over the past few years, particularly in developing economies, owing to the access to enhanced banking services these machines provide. With increasing deployment of these devices, the demand for advanced screens is also increasing, thus aiding the industry growth.

Reducing cost of components has resulted in the declining costs of these devices. With the lowering costs, the end users are widely adopting the solutions with technologically-advanced components. The manufacturers of solutions, such as ATMs and POS, are reducing the total cost of ownership of these devices and preferring the use of low-cost components without compromising on the quality. The declining cost of raw materials is expected to accelerate the growth of display market.

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Asia Pacific display market is expected to grow significantly owing to the increasing number of display manufacturers in the region. Increasing manufacturers in the region have increased the cost-competitiveness among the players, which has resulted in the manufacture of low-cost components. Furthermore, the region is characterized by the increasing deployment of ATMs, POS terminals, and kiosks, thus increasing the demand for displays.

Large retailers in countries such as the U.S., the UK, Australia, and Germany are increasingly adopting the self-checkout kiosks to enhance efficiency, save customer time, and improve operational profits. The trend of self-checkout kiosks is penetrating in other retail segments such as departmental stores, small convenience stores, and specialty retailers.

Rapid technological advancements, such as multi-touch LCDs and surface acoustic wave technology, are increasing the rate of obsolescence of products. The products with older technologies fade out quickly and manufacturers find it difficult to provide services for such products.

This bodes well for the display market growth; however, decreases the profitability of the OEMs as these companies need to implement the technologically-advanced devices in the systems.

Some of the key vendors in the display market include Fujitsu Limited, Pax Technology, Inc., NCR Corporation, TCL Displays, Epson America, Inc., Posiflex Technology, Inc., Diebold Nixdorf, Inc., Fametech, Inc., Displax SA, Topfoison Electronic Technology Co., Ltd., and Ingenico Group.



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Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for AlgosOnline and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport.

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