Interactive Display Market Worth $18.51 Billion, Globally,

US & Canada, Sept. 03, 2024 (GLOBE NEWSWIRE) -- The increasing applications of the interactive display are contributing to the growing Interactive Display Market Size and Growth 2031. Moreover, growing investment in Al technologies and the expansion of the education, BFSI, and retail industries are expected to continue to propel the market during the forecast period. For instance, Samsung Electronics America, Inc. showcased new AI-powered upgrades to its Interactive Display (model name: WAD) at the 2024 ISTELive conference in Denver (June 23–26). First launched in May 2024, the Interactive Display WAD series is set to offer cutting-edge generative AI capabilities through the Samsung AI Class Assistant to help educators save time and focus on guiding students through their learning journeys.

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Global Interactive Display Market

Global Interactive Display Market, US$ Billion

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An interactive display is most frequently utilized in meeting rooms, classrooms, and other collaborative settings due to their high user engagement and interactive learning and collaboration. The increasing digitization and expansion of industries such as education, retail & e-commerce, BFSI, and entertainment are driving the interactive display market.

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Key Factors Impacting the Market:

Market Dynamics

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Increasing Need for Effective Collaboration: The interactive display enables users to present two or more items simultaneously on a single screen and enhance information visualization through intelligent watching. Therefore, the governments of several nations are making more investments in interactive displays to create appropriate infrastructure for digital classrooms and promote smart education frameworks. For instance, the US spent around US$ 1,100 billion in September 2022 on updating and repairing dilapidated school facilities, according to the Center for American Progress (CAP). Similarly, in December 2023, the Indian government declared that 120 government schools in Noida will implement the Sampark Smart Shala Smart Block Program to form smart classrooms. The market participants are further encouraged to provide novel solutions to simplify teaching and learning procedures. For example, LG Electronics Inc. debuted the LG CreateBoard Interactive whiteboard solution in May 2023, intended for use in online learning environments. Teachers and students can both observe or access this interactive display, which offers a fluid writing and sketching experience. Thus, the market for interactive displays is propelling considerably owing to the growing need for smart learning.
Development of Next-Generation Interactive Display: Businesses are rapidly implementing cutting-edge technologies such as artificial intelligence (AI) and the Internet of Things (IoT) to improve operational efficiency and generate leads. Al technology is incorporated into interactive displays to improve content delivery and enable users to analyze data for insightful analysis. With features such as gesture detection, personalized content recommendations, and adaptive user interfaces, Al technology improves the functioning of interactive displays; it further builds dynamic and interesting experiences based on habits and preferences to enhance consumer involvement. To support a variety of industries, including retail and e-commerce, BFSI, healthcare, and education, interactive display manufacturers are leveraging their expertise by partnering with each other in order to develop Al-based and next-generation interactive displays. For instance, in June 2023, Hitachi Ltd partnered with LG Electronics Inc. to launch a new AI display for the retail and e-commerce industry. The companies have together developed a 29-inch touchscreen panel with biometric infrastructure and public key authentication, along with numerous additional features such as a high-definition camera, face recognition technology, and a real-time monitoring system. The AI-based interactive display is designed to fulfill the demands of customers from retail shops, restaurants, offices, gyms, residential sectors, and conference centers. Further, in October 2022, OTI Lumionics raised funding of US$ 55 million to develop display materials for interactive display makers. The material allows manufacturers to create full-view displays without cut-outs for sensors and components. Display technology is also revolutionizing the smartphone industry by changing the manufacturing processes of interactive screens.
Growing Demand for Interactive Retail Displays: Interactive retail displays are revolutionizing consumer shopping experiences. Consumers are encouraged to engage with products through augmented reality, motion sensors, and touch screens. Interactive displays showcase different features, facilitate touch and feel, and strengthen the bond between the customer and the product. As a result, they offer a captivating forum for imparting comprehensive product knowledge. In the advertising industry, an interactive display advertising a skincare brand can provide information on components and benefits, as well as customize recommendations according to skin type. Interactive displays facilitate the bidirectional connection between the business and its clientele. Users can participate in surveys, submit comments, and sign up for exclusive offers directly through the display. In addition to giving consumers a better purchasing experience, interactive displays offer valuable insights as per the preferences and behaviours of the target audience. Another new trend in window displays is interaction. Retailers are introducing a range of interactive features into their window shopping experiences, such as motion-activated window projections, touch-sensitive windows, and QR codes that offer detailed product information. Thus, the aforementioned advantages of interactive displays in the retail sector are likely to spur the market growth during the forecast period.

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Regional Overview:

The geographic scope of the interactive display market entails five major regions: North America, Europe, Asia Pacific, the Middle East & Africa, and South America. In 2023, Asia Pacific led the market, followed by North America and Europe.

Global Interactive Display Market, Regional Share (%)

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The Asia Pacific interactive display market is divided into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. Interactive displays are gaining significant traction owing to the noticeable growth of the hospitality sector in the region. The Hotel Operators' Sentiment Survey 2023 report states that average daily rates (ADRs) in Bali, Phuket, and Singapore have increased by over 20% post-pandemic, primarily due to leisure travelers. Further, 77% of the hotels in the area anticipate increasing occupancy rates in 2024, particularly in the premium and upper-market segments. Furthermore, in the upcoming 6–12 months, nations such as China, Australia, South Korea, and Japan are expected to witness favorable growth in their respective hospitality industries.

Similarly, the healthcare industry is becoming more digital in the region. For instance, the Indian government has launched a number of projects, including the e-Hospital, Aarogya Setu, CoWIN App, e-Sanjeevani, and Ayushman Bharat Digital Mission, to increase the availability of healthcare facilities and services across the nation. Furthermore, in March 2022, the Australian government announced the modernization of the Australian healthcare system with an investment of US$ 74.91 million (AU$ 107.2 million). Therefore, the increasing number of initiatives for digitizing the healthcare industry is anticipated to fuel the interactive display market growth in Asia Pacific.

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Recent Developments by Region:

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Competitive Landscape:

The interactive display market is highly fragmented owing to the presence of several local and international players. The manufacturers either offer their products directly or through different agencies, suppliers, distributors, and dealers. Also, these products are offered through online channels. A few key players operating in the interactive display market are Samsung Electronics Co Ltd, LG Electronics Inc, Panasonic Holdings Corp, Sharp Electronics Corp, Hitachi Ltd, BenQ Corporation, and BOE Technology Group Co Ltd.

Major Players in the Interactive Display Market

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Interactive Display Market Worth $18.51 Billion, Globally, by 2031 - Exclusive Report by The Insight Partners

The interactive display market size is projected to reach US$ 18.51 billion by 2031 from US$ 11.30 billion in 2023 to register a CAGR of 6.4% during 2023–2031.

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