The report "Commercial Touch Display Market by Product (Monitors, Signage Displays, POS Terminals, Open Frame Touchscreen Displays, and Medical Displays), Touch Technology, Resolution, Application, Size, Aspect Ratio, Industry, and Geography - Global Forecast to 2025", size was valued at USD 4.3 billion in 2020 and is projected to reach USD 7.6 billion by 2025. It is expected to grow at a CAGR of 12.1% during the forecast period. High adoption of touchscreen displays in retail, hospitality, healthcare, and transportation verticals, dynamic nature of touchscreen displays leads to enhanced customer experience, and rapid adoption of technologically advanced, energy-efficient, attractive, and high-end-specification display products are the key driving factors for the commercial touch display market.
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Driver:Rapid adoption of technologically advanced, energy-efficient, attractive, and high-end specification display products
The touch screen display market has witnessed tremendous technological advancements in the past few years. Display devices have changed from being bulky, space-consuming equipment to slim, bezel-less gadgets. They now offer much higher resolutions, better contrast ratios, and consume lower power than that of traditional display devices. The competitive market has seen manufacturers launch products with attractive aesthetics and high-end specifications. Moreover, with the rising demand for touchscreen display products, there has been a huge reduction in the final price of various displays and technologies. Touchscreen display products such as kiosks, monitors, and signage solutions are in demand due to the declining prices of displays and touchscreen panels. Increased panel size and resolution have improved the overall performance of these displays and offer enhanced view. Thesea dvancements are expected to increase the demand for touch screen displays.
Restraint: Adverse impact of COVID-19
The COVID-19 pandemic has further accelerated in terms of intensity and expandedits reach globally. The suspension of business activity on account of the coronavirus pandemic, coupled with the cancellations of all sorts of activities where large number of people gather—from shopping malls to sporting events to conventions—has created uncertainties form any companies involved in unattended retailing. Moreover,coronavirus causes supply chain disruptions for manufacturers of touchscreen displays or kiosks as this virus gets spread easily by coming in contact with the affected people or material used by them. The widespread outbreak of COVID-19 has resulted in disruptions in global supply chains, border restrictions, and travel restrictions by government bodies. Stringent measures are resulting in a significant decline in global commercial activities, impacting the demand from the retail, transportation, hospitality, sports & entertainment sectors, as well as global economic growth, which is hampering the growth of the commercial touch display market.
Opportunity: Integration of artificial intelligence in touchscreen display devices
With rapid technological advancements, companies have started focusing more on providing a variety of additional features in touchscreen devices. Researchers associated with different companies focus on integrating new technologies in conventional touchscreen display devices, including kiosks, signage displays, medical devices, and outdoor touchscreens, to make them user-friendly and interactive. Artificial intelligence(AI) is one such technology that provides huge opportunities for the touchscreen display market to grow. AI-based touch screen devices can easily translate data from one language into other languages and capable of fetching user-specific data. Therefore, various companies focus on integrating AI in touchscreen display devices to witness accelerated demand for commercial touch display devices.
Challenge:Production of equipment that withstand all weather c onditions in outdoor applications
Touchscreen display devices used for outdoor applications have to be durable and should match environment conditions and requirements of the applications. They have to be adjustable in various lighting conditions with security glass having anti-reflective and ultraviolet(UV) filter so rcoatingtoguaranteeoptimalprotectionagainstsolarbeamsandmustalsoremainreadableinbrightsunlight. In case of supermarkets, they need to have high-end audio and video capabilities for promotional applications and should also be designed with anti-scratch coating so that it can be operated by untrained customers that are likely to use cards, keys, and other hard objects that could scratch the surface. Inregions with excessive snowfall or rainfall, interactive products need to have a fully ruggedized casing with standard powerful ventilation systems for protection against rain, dust, and very cold environments. Implementing such features would increase the product price and also the maintenance cost. Therefore, developing robust equipment is considered to be challenging for the commercial touch display providers.
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