The Embedded Display Market is expected to develop significantly, reaching an estimated USD 24.4 billion by 2025 from an anticipated USD 17.7 billion in 2020. Between 2020 and 2025, this growth trajectory shows a strong Compound Annual Growth Rate (CAGR) of 6.9%.
The growth of the market is being propelled by multiple reasons, such as the progression of technology and the growing incorporation of embedded displays in an extensive array of applications. Important technologies like LCD, LED, OLED, and others are essential for the expansion of the market since they can be used in a wide range of applications, including home automation, HVAC systems, fitness trackers and wearables, car displays, and more.
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The embedded display market is expanding significantly, driven by a number of important factors. Technological developments in embedded display interfaces are acting as a major stimulant, promoting creativity and increasing embedded displays' potential in a range of sectors. The COVID-19 epidemic has also expedited the adoption of automation solutions in other industries, which has increased demand for embedded displays. The need to improve productivity, decrease manual intervention, and streamline operations in response to pandemic-related difficulties is the reason for this increased usage. Furthermore, the need for interactive displays and digital signs is expanding globally due to a number of causes, including the need for improved information distribution, efficient communication platforms, and compelling customer experiences.
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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.
The portable device segment to register higher CAGR during the forecast period
It is projected that the embedded display market's portable devices sector would develop significantly over the course of the forecast period, with a higher compound annual growth rate (CAGR). This growth trajectory is mainly explained by the numerous advantages that portable devices provide, which make them more and more in demand for a variety of applications. Notably, multi-touch panel options are a feature of portable devices that improve user experience and interaction while keeping handling and operation simple. Point-of-sale (POS) machines, wearable technology, smart display devices, display monitors, human-machine interface (HMI) systems, and medical devices are just a few of the many industries in which these devices find broad application. In addition, it is projected that in the upcoming years, the continuous commercialization of the Internet of Things (IoT) ecosystem would increase demand for portable devices. It is anticipated that the requirement for seamless connectivity, expanded functionality, and more user interaction will fuel a rise in the integration of embedded displays into portable devices as the Internet of Things continues to gather traction. Thus, within the integrated display market landscape, the portable devices category offers profitable potential for growth and innovation.
The increase in consumer demand for electric, hybrid, and semi-autonomous vehicles to drive demand for automobile displays
By application, the automotive displays sector of the embedded display market is expected to lead and hold the biggest market share by 2025. The rise in popularity of electric, hybrid, and semi-autonomous vehicles among consumers is credited with this prominence. This trend is anticipated to greatly increase the need for embedded displays in automobiles. The market for automotive displays is expected to grow as automakers work to give consumers easy-to-use driving experiences and include digital connectivity technologies into their cars. Digital instrument clusters, central stack systems, heads-up displays (HUDs), navigation systems, and rear-seat entertainment screens are just a few of the automotive applications for which these displays are used. Adoption of advanced embedded display technologies in cars is being propelled by the growing emphasis on improving in-car networking, navigation, and entertainment features; this is driving the growth of the automobile displays industry. As a result, this market niche becomes increasingly important in determining the direction of the integrated display market, providing rich prospects for growth and innovation in the automobile sector.
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North America is projected to hold largest share of embedded display market in 2025
By 2025, North America will command the most market share and be the leading force in the embedded display industry. The growing need for automation in supply chain, assembly, and manufacturing processes across a range of industries supports this expected leadership position. It is anticipated that there will be a notable increase in the integration of smart systems with embedded displays across a range of applications due to the demand for more streamlined and efficient procedures. Additionally, the growing need for smart buildings and houses, as well as the development of smart cities in the area, support the growth prospects of the embedded display market in North America. The governments operating within the region are proactively leading programmes that are designed to support the growth of smart cities, which in turn creates favourable conditions for the embedded display technologies to proliferate. These programmes should encourage the use of home automation systems, which will increase demand for embedded screens in North America. All things considered, the region's aggressive attitude to adopting smart technologies and developing infrastructure creates the conditions for the embedded display market to experience strong growth and innovation.
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