The industrial display market has been experiencing steady growth and is expected to continue on this trajectory.
Here are some key trends:
Market Growth: The global industrial display market reached a value of about USD 6.49 billion in 2023 and is expected to grow at a CAGR of 5.87% from 2024 to 2032, reaching nearly USD 10.85 billion by 2032.
Increasing Adoption of HMI Devices: The surge in demand for industrial displays is driven by the increasing adoption of Human-Machine Interface (HMI) devices in industrial automation and control systems.
LCD Dominance: LCDs are predicted to remain the leading revenue-generating segment in the industrial display market.
Geographical Trends: In terms of geography, APAC holds a significant share of the global display market, followed by Europe. North America is also experiencing growth due to increasing research and development efforts and the advancement of automated embedded device technology.
IIoT Influence: The rising penetration of multi-featured HMI devices, increasing adoption of the Industrial Internet of Things (IIoT), and proliferation of advanced technology are contributing to the growth of the industrial display market.
These trends indicate a promising future for the industrial display market, driven by advancements in technology and the increasing demand for efficient industrial automation solutions.