PUBLISHER: The Insight Partners | PRODUCT CODE: 1498579
PUBLISHER: The Insight Partners | PRODUCT CODE: 1498579
The Interactive Display market size was valued at US$ 11.30 billion in 2023 and is expected to reach US$ 18.51 billion by 2031; it is estimated to record a CAGR of 6.4% from 2023 to 2031.
The interactive display market is being driven by an increasing demand for digital solutions among consumers. Rising investment by the education industry to support modern education and the growing demand and adoption of interactive displays to develop infrastructure for digital classrooms is fueling the market. For instance, according to the Center for American Progress (CAP), in September 2022, the US spent ~US$ 1,100 billion on modernizing and replacing outdated school buildings, which, in turn, raised the adoption of interactive displays for education systems. Interactive display helps users improve visualization of content with smart viewing and allows them to display two or more materials at the same time on the same screen.
The growing use of interactive displays in the education sector is propelling the market. The expansion of the education sector encourages market players to develop innovative solutions for easy teaching and learning processes. For instance, in May 2023, LG Electronics Inc. unveiled the LG CreateBoard Interactive whiteboard solution for use in virtual classrooms. This interactive display enables both teachers and students to view or access and provide fluid writing and sketching experience.
On the basis of industry vertical, the market is divided into retail & hospitality, healthcare, BFSI, education, entertainment, and others. The retail and hospitality segment is anticipated to register the highest CAGR in the coming years. The retail industry is expected to witness a rise in demand for touch-enabled displays due to the expanding popularity of touch-based gadgets and an increasing use of interactive tables and kiosks. The growing implementation of interactive kiosks by a number of large retail chains, such as Walmart, is fueling the market for the segment. Interactive kiosks show products together with their characteristics and pricing, which improves customers' in-store experience. The retail sector is anticipated to expand during the forecast period, owing to the rising number of commercial spaces, including malls, museums, departmental stores, and shopping centers. Interactive video walls allow customers to verify the availability of stock at a specific location and glance through the store's inventory, which is anticipated to boost the interactive display market during the forecast period.
The interactive display market analysis is carried out by identifying and evaluating key players operating in the market across different regions. Samsung Electronics Co Ltd, Promethean Limited, LG Electronics Inc, BOE Technology Group Co Ltd, ViewSonic Corporation, Panasonic Holdings Corp, Sharp Electronics Corp, Hitachi Ltd, BenQ Corporation, and SMART Technologies ULC, are among the key interactive display market players profiled in this market study. Several other interactive display market players were also analyzed for a holistic view of the market and its ecosystem.
The interactive display market forecast has been derived using both primary and secondary sources. To begin the interactive display market research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights about the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers-along with external consultants such as valuation experts, research analysts, and key opinion leaders-specializing in the interactive display market.