The Commercial Touch Display Market Size was valued at USD 4.3 billion in 2020 and is projected to reach USD 7.6 billion by 2025. It is expected to grow at a CAGR of 12.1% during the forecast period.
High adoption of touchscreen displays in retail, hospitality, healthcare, and transportation verticals, dynamic nature of touchscreen displays leads to enhanced customer experience, and rapid adoption of technologically advanced, energy-efficient, attractive, and high-end-specification display products are the key driving factors for the Commercial Touch Display Market.
Rapid adoption of technologically advanced, energy-efficient, attractive, and high-end specification display products
The touch screen display market has witnessed tremendous technological advancements in the past few years. Display devices have changed from being bulky, space-consuming equipment to slim, bezel-less gadgets. They now offer much higher resolutions, better contrast ratios, and consume lower power than that of traditional display devices. The competitive market has seen manufacturers launch products with attractive aesthetics and high-end specifications.
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Integration of artificial intelligence in touchscreen display devices
With rapid technological advancements, companies have started focusing more on providing a variety of additional features in touchscreen devices. Researchers associated with different companies focus on integrating new technologies in conventional touchscreen display devices, including kiosks, signage displays, medical devices, and outdoor touchscreens, to make them user-friendly and interactive. Artificial Intelligence (AI) is one such technology that provides huge opportunities for the touchscreen display market to grow. AI-based touch screen devices can easily translate data from one language into other languages and capable of fetching user-specific data.
Key Players
Samsung Electronics (South Korea), Leyard Optoelectronics (Planar) (China), LG Electronics (South Korea), Innolux Corporation (Taiwan), and BOE Technology (China) are among the major players in the Commercial Touch Display Market.
Samsung Electronics is one of the leaders in the Commercial Touch Display Market. It is a pioneer in commercializing technologically advanced commercial touch displays. Samsung is focused on developing innovative products and solutions in the commercial touch display market. The company has a strong financial background and invests large amounts in R&D activities. The company is focused on providing touch displays for retail, hospitality, medical, and transportation industries. Samsung continues to maintain its position through its state-of the-art technologies that suit a wide range of business needs, including smart signage solutions. Samsung has wide geographic presence and is focused on developing innovative products and solutions in the commercial touch display market. The company has a strong financial background and invests large amounts in R&D activities. The company is focused on providing touch displays for retail, hospitality, medical, and transportation industries. Samsung continues to maintain its position through its state-of the-art technologies that suit a wide range of business needs, including smart signage solutions. Samsung has improved cost competitiveness by increasing its production yields through developing advanced process technologies and high transmission panels, as well as producing core manufacturing equipment internally.
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BOE is one of the very few companies that have witnessed rapid growth in the display panel market. The company focuses on developing technologically advanced products, thereby investing significant amount in R&D. The company is focused on market expansion and strategic client cooperation in new application areas, such as automotive, retail, industrial, healthcare, and education sectors. The revenue of company has hit badly due to the closure of its production units and delayed orders from key customers, such as Huawei. BOE Technology is likely to lose out to Samsung Display in a shipment for handset panels in 2020 as most of China's panel makers are likely to be forced to delay their production due to unsteady supplies of raw materials in the wake of the coronavirus. There has not been any news on the announcements made by the company related to COVID-19; however, its position among industry leaders gives it an edge to recover from the potential revenue loss even if the company does not plan to switch over to a potentially in-demand product line at present.
News Covered:
https://www.prnewswire.com/news-releases/commercial-touch-display-market-worth-7-6-billion-by-2025--exclusive-report-by-marketsandmarkets-301118682.html
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