The global embedded display market is witnessing a rise in its market value, asserts a Report Ocean study. The report titled, “Global Embedded Display Market Size study, by Type (Touch and Non-touch), by Technology (Liquid-crystal display (LCD), Light emitting diode (LED) and Organic Light-Emitting Diode (OLED)), by Device (Portable Devices and Fixed Devices), by Application (Automobile Displays, Home Appliances, Medical Devices, Fitness Devices and Wearables, Industrial Automation and Control Systems, Home Automation and HVAC Systems, Farming and Construction Equipment, Scientific Test and Measurement Equipment and Others) and Regional Forecasts 2020-2027,” offers an analysis of this market based on its past performance and future prospects.
The increasing advancements in embedded display interface technologies and the advent of innovative products, such as high-end displays, have driven the global embedded display market considerably. In 2019, the overall value of the global market was US$16.4 bn. The research study states that the market is anticipated to rise at a CAGR of more than 6.90% over the period from 2020 to 2027.
The rising uptake of automation in various industries and the augmented demand for interactive displays and digital signage are likely to contribute to the growth of the worldwide market for embedded displays in the years to come. However, the complexities involved in the development of embedded software and the risk of security breach may hamper the growth of this market during the forecast period.
Nonetheless, the surging application of embedded display in the 3D systems and its rising demand in various end-use applications, such as industrial automation, automotive, fitness equipment, and consumer wearables and electronics, will manage the decline in the long run. According to Statista, the shipment units of virtual Reality (VR) headsets, globally, were 7 million and that of Augmented Reality (AR) headsets was 0.6 million in 2019. It is expected to rise to 36.7 million VR headset units and 31.9 million AR headset units in 2023. Also, the proliferating usage of fitness tracker device and several other wearables are projected to create lucrative demand of embedded displays, worldwide, over the forecast period.
In terms of the region, the worldwide market for embedded displays is considered to have a presence across Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America has been leading the global market over the last few years. Thanks to the rise in the demand for automating manufacturing and assembling and supply chain operations in a number of industries, this scenario is likely to remain so during the forecast period. The Asia Pacific embedded display market is expected to witness the highest growth rate over the period of 2020-2027.
Impact of Covid 19 on Global Embedded Display Market
The coronavirus pandemic has jeopardized many a markets. One of them is the worldwide embedded display market. The economic slowdown has left consumers with little to no money, owing to which, they are hesitant in spending on things that are of no absolute necessity. Embedded displays have witnessed a dip in their demand over the last few months, which is reflected on the overall growth of this market.
- North America has been leading the global embedded display market over the last few years.
- The Asia Pacific embedded display market is expected to witness the highest growth rate over the period of 2020-2027.
The global embedded display market is segmented into:
- Liquid-crystal display (LCD)
- Light emitting diode (LED)
- Organic Light-Emitting Diode (OLED)
- Portable Devices
- Fixed Devices
- Automobile Displays
- Home Appliances
- Medical Devices
- Fitness Devices and Wearables
- Industrial Automation and Control Systems
- Home Automation and HVAC Systems
- Farming and Construction Equipment
- Scientific Test and Measurement Equipment
- North America
- Asia Pacific
- Latin America
- Rest of the World
Companies Mentioned in the Report
- Avnet Inc.
- Planar Systems Inc.
- Emerging Display Technologies
- Microsoft Corp.
- Anders Electronics (Anderdx)
- Winstar Display
- Green Hills Software
- Intel Corp.
Company Name: Report Ocean
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