Rise of the Touch: Commercial Touch Display Market to Reach $8.7 Billion by 2029

With a compound annual growth rate (CAGR) of 8.6%, the Commercial Touch Display Market Size is expected to increase from USD 5.8 billion in 2024 to USD 8.7 billion by 2029.

Pune, 11/04/2024 (informazione.it - comunicati stampa - scienza e tecnologia)

Forecasts indicate that the Commercial Touch Display Market will increase significantly, from USD 5.8 billion in 2024 to USD 8.7 billion by 2029. According to a recent report by MarketsandMarketsTM, this expected expansion translates into a Compound Annual Growth Rate (CAGR) of 8.6% during the forecast period.

Because of factors like the growing demand for interactive and engaging customer experiences, the proliferation of digital signage applications, and the integration of touch displays in retail, hospitality, healthcare, education, and other industries, the growth trajectory highlights the increasing adoption of touch display technology across various commercial sectors.

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Numerous converging factors are driving the strong growth of the commercial touch display industry. The growing desire for interactive experiences across a range of businesses is one important motivator. Touch display adoption is being driven by businesses' recognition of the benefits of interacting with customers through touch-enabled interfaces. These businesses include retail, healthcare, education, hospitality, and other sectors. Furthermore, continuous digital transformation projects are pushing touch screen integration into different company processes, facilitating improved efficiency, teamwork, and communication. The capabilities and usability of touch displays are also being improved by ongoing technological developments, such as increased touch sensitivity and greater resolutions, which is propelling market expansion. The commercial touch display market is anticipated to have steady growth in the upcoming years as companies continue to place a high priority on innovation and client interaction.

The widespread adoption of touch displays across diverse industries has been greatly boosted by their cost and accessibility. Furthermore, the market is expanding because to the trend towards larger display sizes for uses like digital signage and collaborative workspaces. In order to cater to the various needs of the industry, touch display manufacturers are now providing customisation and personalisation options, which increases their attractiveness to companies looking for customised solutions. Furthermore, the increased focus on health and safety issues has increased demand for touch displays and sparked technological advancements to solve hygienic issues and encourage touchless interactivity. Touch screens have therefore developed into essential components for a variety of business uses, enabling further market growth in the years to come.

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Commercial Touch Display Market Report Scope:

Report Coverage

Details

Market Revenue in 2024

$5.8 billion

Estimated Value by 2029

$8.7 billion

Growth Rate

Poised to grow at a CAGR of 8.6%

Market Size Available for

2020–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By product, touch technology, aspect ratio, screen size, resolution, industry, application, and region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Compatibility and integration with existing infrastructure can pose a significant challenge

Key Market Opportunities

Integration of artificial intelligence in touchscreen display devices

Key Market Drivers

Growing demand for interactive displays in various applications

Retail, Hospitality, and BFSI segments to lead the industry segment during the forecast period.

Due to a number of strong reasons, the retail, hotel, and banking, financial services, and insurance (BFSI) sectors are projected to dominate the commercial touch display market. Touch displays improve the in-store customer experience for customers by offering self-service kiosks, interactive product information, and smooth checkout processes. These features increase consumer happiness and engagement. Similar to this, the hotel sector uses touch screens to improve the overall visitor experience and drive operational efficiency through interactive menus, self-check-in/check-out procedures, and improved client services. Touch displays are essential to the BFSI's modernization of banking services because they make interactive teller machines, digital signage, and ATMs possible, which improves client interaction and cuts down on wait times. The COVID-19 epidemic has pushed the need for contactless transactions and self-service options, which in turn has expedited the deployment of touch displays in these areas.

By product, the medical display is likely to record the highest growth rate during the forecast period.

For several compelling reasons, medical displays are projected to achieve the highest growth rate in the commercial touch display industry. The need for high-resolution, interactive touch displays in medical settings is being driven by the growing use of digital healthcare solutions and the shift to increasingly sophisticated medical imaging technology. These screens are essential for increasing visualisation, enabling accurate diagnosis, and raising patient satisfaction. The demand for intuitive touch interfaces in medical devices and diagnostic equipment is increasing due to the growing demand for telemedicine and remote patient monitoring solutions, as well as the global emphasis on digitising healthcare. Furthermore, the broad acceptance of medical touch display technologies is facilitated by continuous advancements in these fields, such as multi-touch functionality and smooth interaction with medical software programmes. As a result, medical displays become a significant area of growth for the commercial touch display industry, with the potential to completely transform patient care and healthcare delivery.

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By aspect ratio, the wide segment is expected to exhibit the highest CAGR during the forecast period.

There are a number of important reasons why wide aspect ratio displays show a higher Compound Annual Growth Rate (CAGR) than square aspect ratio displays. The large range of uses that wide aspect ratio displays offer is one important motivator. They appeal to a wider range of businesses, including corporate, design, entertainment, and content development. They are used in gaming and productivity enhancement. Expanding consumer demand has been a major factor in wide aspect ratio display adoption, especially in the gaming and entertainment industries. Wide aspect ratio displays are becoming more and more popular among users due to their capacity to deliver immersive gaming experiences, make multitasking easier, and improve content viewing. This has led to a growth in the market for these displays.

Asia Pacific is likely to account for the largest market share in the global commercial touch display market by 2029.

Due to a variety of variables, the Asia Pacific region is expected to maintain its position as the largest market for commercial touch displays by 2029. The region's fast adoption of new technologies, especially in powerful nations like China, India, Japan, and South Korea, has led to a considerable increase in demand for commercial touch screens in addition to its economic vitality and growing population. Touch-enabled solutions are strategically important across a variety of industries, as demonstrated by government-led programmes that prioritise the creation of smart cities and comprehensive digital transformation. Furthermore, the middle class's growth and the region's rising disposable incomes foster an atmosphere that encourages significant investments in cutting-edge technology.

Key Players

LG DISPLAY CO., LTD. (South Korea), SAMSUNG (South Korea), LEYARD (China), Sharp Corporation (Japan), NEC Corporation (Japan), ViewSonic Corporation (US), Elo Touch Solutions, Inc. (US), Innolux Corporation (Taiwan), AUO Corporation (Taiwan), and BOE Technology Group Co., Ltd. (China). are the dominant companies in the commercial touch display companies.

News Covered:

https://www.prnewswire.com/news-releases/commercial-touch-display-market-worth-8-7-billion-by-2029---exclusive-report-by-marketsandmarkets-302013667.html 

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