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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:

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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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