In 2020, the global commercial touch display market is worth US$4.3 billion and is expected to reach US$7.6 billion by 2025. During the forecast period, it is expected to grow at a compound annual growth rate of 12.1%.
Medical displays have a higher compound annual growth rate during the forecast period
Touch screen displays have a high adoption rate in the retail, hotel, healthcare, and transportation industries. The dynamic characteristics of touch screen displays can improve customer experience, and rapidly adopt technologically advanced, energy-saving, attractive high-end display products in the commercial touch display market Key drivers of However, the customization of touch display devices has generated high costs, and the adverse impact of COVID-19 has hindered market growth.
Retail, hospitality and BFSI industries will occupy the largest share in 2020-2025
The retail, hotel and BFSI industries are expected to continue to occupy the largest share of the commercial touch display market. These displays are increasingly being used in retail stores to provide product information, and buyers can purchase these products without visiting the retail store. They also provide in-store product information and promotional displays of products and services to attract customers. These activities can help users easily obtain products with complete information, thereby increasing customer brand loyalty. These displays can create many interesting customer engagement activities, such as convenient product tutorials and virtual wardrobes where customers can see themselves in their clothes.
The growth of the commercial touch display market in the banking industry is due to the ability of these displays to become cost-effective solutions, reducing manual work and minimizing human error to ensure fast and seamless performance. They are remote banking channels, providing additional convenience for customers and saving service costs for banks. Hotels, resorts, restaurants, casinos, and cruise ships have also adopted touch screens in the hotel industry to improve customer experience. In restaurants and hotels, touch screens are used in digital signage solutions, such as touch screen displays, which can realize reliable and accurate order entry through a man-machine interface.
4K resolution witnessed the highest compound annual growth rate during the forecast period
Because 4K displays have higher frame rates and better color reproduction characteristics, and can present lifelike images, it is expected that the 4K resolution display market will grow at the highest compound annual growth rate. 4K displays have huge market opportunities in the near future. Because they are mainly used for outdoor applications. The image definition provided by 4K technology is more than 4 times that of 1080p resolution. One of the main advantages that 4K provides is the flexibility to zoom and record in high-resolution formats.
The Asia-Pacific region will record the highest growth rate in the commercial touch display market during the forecast period
In terms of commercial touch display production, the Asia-Pacific region is the leading region. With the rapid adoption of new technologies including OLED and quantum dots, the region has witnessed major advancements in the display device market. For manufacturers of displays, open touch screen displays, and signage displays, the Asia-Pacific region is an attractive market. Major companies such as Samsung and LG Display are located in South Korea, and Sharp, Panasonic and several other companies are located in Japan. It is expected that the Asia-Pacific region will have the highest market growth rate during the forecast period.
However, because North America and Europe are highly dependent on China as the main chip and equipment supplier for the commercial touch display industry, it is expected that North America and Europe will be severely affected by the COVID-19 epidemic.