Industrial IoT Displays Market : Shaping the Future of Smart Manufacturing and Automation
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.
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.
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Industrial IoT displays Market Drivers
Several factors are fueling the growth of the industrial IoT
display market:
- Rising
Demand for Automation: The push towards automation in industries such
as manufacturing, energy, and transportation is driving the need for
advanced display solutions. Industrial IoT displays facilitate the
monitoring and control of automated systems, helping operators manage complex
processes with ease.
- Increased
Data Generation and Analytics: The proliferation of IIoT devices
generates vast amounts of data. Industrial displays are critical for
presenting this data in an actionable format, allowing operators to
visualize trends, anomalies, and performance metrics in real-time.
- Advancements
in Display Technology: Innovations in display technologies, including
high-definition (HD), ultra-high-definition (UHD), and touchscreen
interfaces, are enhancing the functionality and usability of industrial
displays. These advancements enable clearer, more intuitive visualization
of complex data.
- Focus
on Operational Efficiency: Industries are increasingly focused on
optimizing operations to reduce costs and improve productivity. Industrial
IoT displays play a key role in this by providing operators with the
necessary insights and controls to streamline processes and minimize downtime.
- Safety
and Compliance Requirements: Regulatory standards and safety protocols
often require accurate and accessible data for compliance. Industrial
displays help ensure that operators have the information they need to meet
these requirements and maintain a safe working environment.
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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