Global Marine Industrial Display Market Insights Forecasts to 2032
- The Global Marine Industrial Display Market Size was valued at USD 5.25 billion in 2022.
- The market is growing at a CAGR of 5.9% from 2023 to 2032
- The global marine industrial display market is expected to reach USD 9.31 billion by 2032
- Asia-Pacific is expected to grow higher during the forecast period
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The Global Marine Industrial Display Market Size is expected to reach USD 9.31 billion by 2032, at a CAGR of 5.9% during the forecast period 2023 to 2032.
A marine industrial display refers to a specialized type of display technology designed specifically for marine applications. These displays are engineered to meet the demanding requirements of the marine industry, providing reliable and robust performance in harsh marine environments. They are built to withstand extreme temperatures, vibrations, moisture, and exposure to saltwater. Marine industrial displays offer high brightness levels and excellent visibility even in bright sunlight, ensuring clear and crisp visuals for operators and crew members on ships, offshore platforms, and other marine vessels. These displays often incorporate advanced features such as wide viewing angles, touch functionality, and ruggedized construction to enhance usability and durability. They play a critical role in marine applications, facilitating efficient operation, monitoring, and control of various systems and processes in maritime settings.
This research report categorizes the market for marine industrial display market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the marine industrial display market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the marine industrial display market.
Global Marine Industrial Display Market Report Coverage
|Market Size in 2022:||USD 5.25 Billion|
|Forecast Period:||2022 - 2032|
|Forecast Period 2022 - 2032 CAGR:||5.9%|
|2032 Value Projection:||USD 9.31 Billion|
|Historical Data for:||2018 - 2021|
|No. of Pages:||210|
|Tables, Charts & Figures:||130|
|Segments covered:||By Technology, By Panel Size, By Application, By Verticals, By Region|
|Companies Covered:||Samsung, LG Display Co., Ltd., NEC Corporation, Sharp NEC Display Solutions of America, Inc., Leyard Europe, Barco, Sony Corporation, E Ink Holdings Inc., AUO Corporation, Deepsky Corporation Ltd., Vtron Technologies Ltd., AOTO Electronics Co., Ltd., Unilumin, ViewSonic Corporation, Koninklijke Philips N.V., Panasonic Corporation Co, Ltd., Planar Systems Inc.|
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The marine industrial display market is driven by several factors that contribute to its growth, due to increasing demand for marine vessels and offshore platforms across sectors such as oil and gas, shipping, and defense drives the need for advanced display solutions for efficient operation and monitoring. Additionally, stringent safety regulations and standards in the maritime industry require reliable and rugged displays that can withstand harsh environmental conditions. Technological advancements, such as the development of high-brightness and sunlight-readable displays, touch functionality, and wide viewing angles, further fuel the market growth. The growing focus on digitalization and automation in the marine industry also creates opportunities for marine industrial displays, as they play a vital role in enabling effective data visualization, control, and communication. Furthermore, the increasing adoption of advanced marine electronics and navigation systems enhances the demand for specialized displays.
The marine industrial display market faces certain restraints that impact its growth. The high cost of specialized display technologies and the need for ruggedized construction add to the overall expenses, making it challenging for some organizations to invest in these displays. Moreover, the limited availability of skilled technicians and maintenance expertise in remote maritime locations can hinder the effective installation and upkeep of marine industrial displays. Additionally, the slow adoption of digital technologies and reluctance to replace traditional display systems in certain segments of the marine industry pose challenges for market growth. Overall, the cyclical nature of the marine industry, coupled with global economic uncertainties, can impact investment decisions and delay the adoption of advanced display technologies.
- In 2022, the LCD segment accounted for around 35.4% market share
On the basis of the technology, the global marine industrial display market is segmented into LCD, LED, OLED, and e-paper display. The LCD segment has captured the largest market share in the marine industrial display market. Several factors contribute to its dominance, LCD technology offers a proven track record of reliability, performance, and cost-effectiveness. LCD displays are widely used across various industries and applications due to their excellent image quality, high resolution, and wide viewing angles. LCDs provide versatility in terms of screen size and form factor, making them suitable for different marine applications, ranging from small control panels to large monitoring consoles. Additionally, advancements in LCD technology have led to the development of ruggedized and high-brightness LCD displays, specifically designed to meet the demanding requirements of marine environments. Furthermore, LCDs are energy-efficient, which aligns with the industry's focus on sustainability and reduced power consumption.
- In 2022, the human-machine interface (HMI) segment dominated with more than 32.5% market share
Based on the type of application, the global marine industrial display market is segmented into HMI, remote monitoring, interactive display, digital signage, and imaging. The human-machine interface (HMI) segment has emerged as the dominant force in the marine industrial display market. This can be attributed to several key factors such as HMIs play a critical role in facilitating interaction and communication between operators or crew members and the various systems and processes on marine vessels. They provide intuitive and user-friendly interfaces that enable efficient control, monitoring, and decision-making. The advancements in HMI technology have led to the development of feature-rich displays with touch functionality, multi-touch gestures, and intuitive graphical user interfaces (GUIs), enhancing the user experience and productivity. Additionally, the increasing focus on automation and digitization in the maritime industry has elevated the importance of HMIs in enabling seamless integration and operation of complex systems. Furthermore, the HMI segment benefits from the growing demand for data visualization, connectivity, and real-time information exchange in marine applications.
Regional Segment Analysis of the Marine Industrial Display Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
North America dominated the market with more than 37.4% revenue share in 2022.
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Based on region, North America has emerged as a dominant player in the marine industrial display market, holding the largest market share. This can be attributed to several factors, because the region has a strong presence of key industry players, including manufacturers, suppliers, and service providers, who contribute to the market's growth and innovation. North America boasts a robust maritime industry, including commercial shipping, offshore oil and gas exploration, and defense applications, which generate significant demand for marine industrial displays. Additionally, stringent regulatory frameworks and safety standards in the region drive the adoption of advanced display solutions. Moreover, the region's technological advancements, research and development capabilities, and high disposable income contribute to the willingness to invest in sophisticated display technologies. Furthermore, the presence of major ports, shipyards, and naval bases in North America further fuels the demand for marine industrial displays.
In March 2023, LG Business Solutions USA has unveiled a new line of outdoor direct-view LED (DVLED) displays. These displays are purpose-built to withstand the demanding conditions of outdoor environments found on cruise ships. The innovative design and robust construction of LG's DVLED displays ensure optimal performance even in challenging weather conditions, providing vibrant and immersive visual experiences for passengers.
In June 2022, Samsung Display has recently acquired Cynora and is pioneering advancements in OLED displays. With this acquisition, the South Korean company has gained access to Cynora's exclusive technology for organic light-emitting diode (OLED) panels, which are utilized in foldable smartphones.
The report offers the appropriate analysis of the key organizations/companies involved within the global marine industrial display market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Companies:
- LG Display Co., Ltd.
- NEC Corporation
- Sharp NEC Display Solutions of America, Inc.
- Leyard Europe
- Sony Corporation
- E Ink Holdings Inc.
- AUO Corporation
- Deepsky Corporation Ltd.
- Vtron Technologies Ltd.
- AOTO Electronics Co., Ltd.
- ViewSonic Corporation
- Koninklijke Philips N.V.
- Panasonic Corporation Co, Ltd.
- Planar Systems Inc.
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture Capitalists
- Value-Added Resellers (VARs)
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global marine industrial display market based on the below-mentioned segments:
Marine Industrial Display Market, By Technology
- E-Paper Display
Marine Industrial Display Market, By Panel Size
- Up to 14"
- 40" and Above
Marine Industrial Display Market, By Application
- Remote Monitoring
- Interactive Display (Kiosk)
- Digital Signage
Marine Industrial Display Market, By Verticals
- Energy & Power
- Oil & Gas
- Metals & Mining
Marine Industrial Display Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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