Sellbyville, DE -- (SBWire) -- 10/16/2018 --Display market is expected to grow over the forecast time span due to growing adoption of touch-enabled screens in retail applications. The brick-and-mortar retailers are increasingly adopting touch-screen systems to enhance customer interaction to remain competitive in the industry. The touch-enabled kiosks are being adopted to a large extent as these systems allow the customers browse through different product offerings easily. This is encouraging the retailers to increasingly implement these systems, positively impacting the industry growth.
Furthermore, the self-service technology is penetrating at a fast pace and is being adopted by retailers, restaurant owners, and warehouses & distribution centers to enhance the operational efficiency. This is poised to propel the adoption of several types of kiosks such as self-checkout kiosks, ticketing kiosks, and food-ordering kiosks. Self-checkout kiosks were estimated to have shipped over 45 thousand units in 2016. This is projected to fuel the kiosk display market growth over the next few years.
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Growing penetration of e-commerce, online payments, and mobile payments is anticipated to bode well for the display market in POS applications. Several economies including China, India, Japan are shifting toward cashless economies. Initiatives such as demonetization and digitization in India have resulted in the large-scale adoption of POS systems, accelerating the industry growth. POS system manufacturers are investing increasingly in providing end-to-end encryption solutions to process payments safely and securely. This is encouraging the end users to use POS systems, which is expected to augment the display market.
South Korea display market is expected to grow significantly over the forecast timespan owing to the increasing number of manufacturers and the ability of these companies to manufacture components at a low cost. The semiconductor and display vendors in the region are rapidly expanding their manufacturing capabilities to cater to the rapidly increasing demand for these components. For instance, Jusung Engineering, a display and semiconductor manufacturing equipment supplier announced that it will invest more than 20% of its annual sales to manufacture new photovoltaic and display equipment products.
Asia Pacific display market is expected to grow significantly owing to the increasing number of display manufacturers in the region. Increasing manufacturers in the region have increased the cost-competitiveness among the players, which has resulted in the manufacture of low-cost components. Furthermore, the region is characterized by the increasing deployment of ATMs, POS terminals, and kiosks, thus increasing the demand for displays.
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Some of the key vendors in the display market include Fujitsu Limited, Pax Technology, Inc., NCR Corporation, TCL Displays, Epson America, Inc., Posiflex Technology, Inc., Diebold Nixdorf, Inc., Fametech, Inc., Displax SA, Topfoison Electronic Technology Co., Ltd., and Ingenico Group. The industry is exceedingly competitive with the presence of a large number of global and regional players. The manufacturers differentiate their products based on cost, quality, and technology. For instance, 3M has developed multi-touch projected capacitive (PCAP) displays with multi-touch and ultra-fast response.
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Display Market to Grow at 14% CAGR to 2024 Forecast by Key Players: Fujitsu Limited, NCR Corporation, TCL Displays, Epson America, 3M Company, Fametech and 17 Others
Asia Pacific display market is expected to grow significantly owing to the increasing number of display manufacturers in the region.