Industrial loT Display Market worth $1.6 billion by 2028, at a CAGR of 13.3%

March 06 23:29 2023
Industrial loT Display Market worth $1.6 billion by 2028, at a CAGR of 13.3%
Industrial loT Display Market
The Industrial IoT Display Market Size is projected to reach USD 1.6 billion by 2028 from an estimated USD 0.9 billion in 2023, at a CAGR of 13.3% from 2023 to 2028

According to a research report Industrial loT Display Market by Technology (LCD, LED, OLED), Panel Size, Application (HMI, Remote Monitoring), End-use Industry (Manufacturing, Energy & Power, Oil & Gas, Mining, Transportation) and Region – Global Forecast to 2028″ published by MarketsandMarkets, the global Industrial IoT Display market size is estimated to be USD 0.9 billion in 2023 and is projected to reach 1.6 billion by 2028, at a CAGR of 13.3% during the forecast period. The growing adoption of Industry 4.0 and the increasing demand of HMI devices play a key role in driving the growth of Industrial IoT Display market in near future.

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Industrial loT Display Market

Rising demand for OLED based industrial IoT displays to drive technology segment

The OLED segment is expected to record the highest CAGR during the forecast period. OLED displays are still emerging in the industrial sector and are mostly offered in smaller panel sizes. However, this technology is evolving rapidly, and manufacturers like Samsung Display (South Korea) and LG Display (South Korea) have already showcased IP65-rated OLED video walls for advertising. With further development in the reliability of large-panel OLED displays, more applications, particularly digital signage and imaging, are expected to open for this technology in consumer and industrial applications.

HMI segment accounted for the largest share in 2022

In 2022, the HMI segment accounted for the largest share of the industrial IoT display market. There is significant adoption of industrial automation equipment, such as HMI, by manufacturers from various industries, such as food & beverages, oil & gas, metal & mining, automotive, semiconductor & electronics, and A&D. The integration of advanced HMI solutions with various industrial automation equipment has tremendously increased the quality, productivity, and mobility of plant assets.

North America accounted for the largest share of the Industrial IoT Display market

North America was the leading market for industrial IoT displays in 2022 due to various initiatives undertaken by government initiatives, such as ‘Manufacturing USA’ by the US and ‘Industrie 2030’ by Canada. These initiatives have encouraged the development and adoption of industrial IoT displays in various end-use industries. The region leads in terms of advanced automation technology and manufacturing techniques such as predictive maintenance and remote monitoring..

E Ink Holdings Inc. (Taiwan), BOE Technology Group Co., Ltd. (China), Advantech Co., Ltd. (Taiwan), Pepperl+Fuchs SE (Germany), Sharp Corporation (Japan), PDi Digital  (Austria), Planar Systems, Inc. (US), Winmate Inc. (Taiwan), Maple Systems Inc. (US), are some of the key players in the Industrial IoT Display market.

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