Increasing Demand for Real-Time Data Visualization Drives Growth in Industrial IoT Display Market.
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.
Within the larger IoT market, the Industrial IoT (IIoT) Display market is one that is expanding quickly. In the upcoming years, it is anticipated that demand for IIoT displays will increase dramatically due to the growing adoption of Industry 4.0 and the Industrial Internet of Things.
In industrial settings, IIoT displays are used to monitor and provide crucial data. They enable operators to make wise decisions and optimise production processes by providing real-time data visualisation, analytics, and reporting capabilities.
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The growing need for predictive maintenance in industrial settings is one of the major factors driving the IIoT display market. Proactive maintenance and repair are made possible by predictive maintenance, which uses data from sensors and other connected devices to forecast when equipment breakdown is likely to occur. IIoT displays are an essential part of predictive maintenance systems because they let operators examine sensor data and identify potential issues right away.
Another key driver of the IIoT display market is the increasing use of augmented reality (AR) and virtual reality (VR) technologies in industrial environments. IIoT displays can be used to display AR/VR content, providing operators with immersive, interactive views of the production process. This can improve worker safety, increase efficiency, and reduce downtime.
The market for IIoT displays is also gaining from the spread of edge computing and cloud computing technologies. Edge computing enables data to be processed locally, lowering latency and enhancing response times, but cloud computing enables IIoT displays to receive data and analytics from a centralised place.
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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