The report "Embedded Display Market with COVID-19 Impact Analysis by Technology (LCD, LED, OLED, and Others), Type, Device, Application (Automobile Displays, Fitness Devices and Wearables, Home Automation and HVAC Systems), Region - Global Forecast to 2025", will grow to USD 24.4 billion by 2025 (forecast year) from USD 17.7 in 2020 (estimated year), at a CAGR of 6.9% between 2020 to 2025. The key drivers fueling the growth of this market include the advancements in embedded display interface technologies and accelerated adoption of automation in different industries owing to COVID-19. Moreover, the increased demand for interactive displays and digital signage across the globe play a key role in driving the growth of the embedded display market.
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COVID-19 Impact on the Global Embedded Display Market
The embedded display market includes key companies such as Ansys, Avnet, Inc., Winstar Display, Green Hills Software (GHS), Intel, Planar Systems, Altia, Anders Electronics, Emerging Display Technologies (EDT), and Microsoft. These suppliers have their manufacturing facilities and offices spread across various countries across Asia Pacific, Europe, North America, South America, and RoW. The display solutions offered by these companies are used by several industries for various applications. COVID-19 not only impacted the operations of the various embedded display companies, but also affected the businesses of their partners and distributers. The slowing demand for home appliances and home automation devices due to lockdown measures had a global impact on the market. The continuous fall in the global demand and export shipments for automotive vehicles is also expected to negatively impact the automobile displays market and eventually, slow down the demand for embedded display.
The portable device segment to register higher CAGR during the forecast period
The portable devices segment of the embedded display market, by device type is projected to grow at a higher CAGR during the forecast period. The growth of this segment can be attributed to a number of benefits offered by portable devices. They have multi-touch panel options, thereby making them highly interactive while being easy to handle and use. Portable devices are used in point of sale (POS) machines, wearables, smart display devices, display monitors, HMI, and medical devices, among several other applications. The ongoing commercialization of IoT is expected to fuel the demand for portable devices during the forecast period.
The increase in consumer demand for electric, hybrid, and semi-autonomous vehicles to drive demand for automobile displays
The automobile displays segment of embedded display market, by application, is expected to account for largest market share in 2025. The increase in consumer demand for electric, hybrid, and semi-autonomous vehicles is expected to have a positive impact on the growth of the market for automobile embedded displays. Several automobile manufacturers are making efforts to offer an intuitive driving experience to users and incorporate digital automotive connectivity capabilities into their vehicles. This is expected to propel the demand for automobile displays used in digital instrument clusters, central stack systems, HUD, navigation systems, and rear-seat entertainment screens.
North America is projected to hold largest share of embedded display market in 2025
North America is expected to hold the largest share of the embedded display market in 2025. The rise in demand for automation of manufacturing and assembling, as well as supply chain operations in various industries, is expected to fuel the adoption of smart systems equipped with embedded displays in different applications. The growth of the embedded display market in North America can also be attributed to the rising demand for smart homes and smart buildings leading to the development of smart cities in the region. Various initiatives undertaken by governments of different countries of the region have further accelerated the development of smart cities in North America. These developments are further expected to drive the demand for home automation devices. All these developments would spur the market growth of embedded displays in North America.
Avnet, Inc., Ansys, Emerging Display Technologies (EDT), Winstar Display, Alita, Green Hills Software (GHS), Microsoft, Planar Systems, Intel, and Anders Electronics are the key players in the global embedded display market. These players are increasingly undertaking strategies such as product launches and development, expansions, partnerships, collaborations, and acquisitions to increase their market share.
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