Display market to exceed $20 Bn USD by 2024
The display market is set to leap from its current market value of over $7 billion USD to over $20 billion by 2024 according to a study carried out by Global Market Insights.
The high prominence of devices like smart ATMs, intelligent interactive kiosks and NFC enabled POS systems is expected to grow the display market substantially over the next seven years, with the deployment of smart ATMs increasing substantially, primarily in developing economies due to the access of enhanced banking services.
Lower prices have led to greater accessibility for these devices in the marketplace, as reduced costs of components have resulted in declining costs of the devices, allowing for the wider adoption of the devices with advanced components.
According to the report, developing economies are also witnessing higher interest in the displays, with Amazon announcing in March 2019 that it plans to build more than 100 kiosk shopping centres in India.
The study highlights the healthcare sector as an emerging application area in the display market, with uptake of self-service approaches for patients on the rise for checking into clinics without the help of medical administrators.
Kiosk devices have also assisted in the streamlining of administrative tasks such as payment and hospital registration, with the report stating that the usage of these displays reduces costs of filing forms, less paperwork and minimising time required to carry out bulk administrative tasks.
The announcement follows PMA Research’s report that the large format flat panel display market had shown growth throughout 2019.