Global Marine Industrial Display Market Size to Worth USD 9.31 Million By 2032 | CAGR Of 5.9%
The Global Marine Industrial Display Market Size was valued at USD 5.25 Billion in 2022 and the worldwide marine industrial display market is expected to reach USD 9.31 Billion by 2032. According to a research report published by Spherical Insights & Consulting, 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. Other Key Vendors.
New York, United States, Nov. 06, 2023 (GLOBE NEWSWIRE) — The Global Marine Industrial Display Market size is to Grow from USD 5.25 Billion in 2022 to USD 9.31 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.9% during the forecast period.
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Marine industrial displays are purpose-built display solutions designed to meet the specific demands of the marine industry. These displays are engineered to withstand extreme conditions prevalent in marine environments, including temperature fluctuations, moisture, saltwater exposure, and vibrations. They offer high brightness levels and excellent visibility, ensuring clear visuals even in bright sunlight. Marine industrial displays often feature wide viewing angles, touch functionality, and ruggedized construction for enhanced usability and durability. They play a crucial role in maritime applications by facilitating efficient operation, monitoring, and control of various systems and processes on ships, offshore platforms, and other marine vessels.
Browse key industry insights spread across 200 pages with 130 market data tables and figures & charts from the report on the “Global Marine Industrial Display Market Size, Share, and COVID-19 Impact Analysis, By Technology (LCD, LED, OLED, and E-Paper Display), By Panel Size (Up to 14″, 14–21″, 21–40″, and 40″ and Above), By Application (HMI, Remote Monitoring, Interactive Display (Kiosk), Digital Signage, and Imaging), By Verticals (Manufacturing, Energy & Power, Oil & Gas, Metals & Mining, and Transportation), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2032″.
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The 21–40″ segment is expected to grow at a CAGR of around 7.2% during the forecast period
Based on the panel size, the global marine industrial display market is segmented into Up to 14″, 14–21″, 21–40″, and 40″ and above. The 21-40″ segment of marine industrial displays is projected to experience substantial growth during the forecast period. There are several factors contributing to this expected expansion, this display size range offers a versatile and optimal screen size for various marine applications, providing a balance between compactness and readability. It is suitable for control panels, navigation systems, monitoring consoles, and other onboard displays. Advancements in display technology have made it possible to achieve higher resolutions, improved brightness, and enhanced durability within this size range. This makes the 21-40″ displays highly attractive for marine operators seeking reliable and visually appealing solutions.
The manufacturing segment held the largest market share with more than 34.2% in 2022.
Based on the verticals, the global marine industrial display market is segmented into manufacturing, energy & power, oil & gas, metals & mining, and transportation. The manufacturing segment has emerged as the leader in terms of market share in the marine industrial display market. This can be attributed to several factors because the manufacturing sector plays a crucial role in producing marine vessels, offshore platforms, and other maritime infrastructure, which require advanced display solutions for efficient operation and monitoring. The manufacturing industry has a high demand for marine industrial displays across various applications such as control panels, process monitoring, and quality control. Additionally, manufacturers often prioritize the integration of advanced technologies and display systems to enhance productivity, safety, and operational efficiency.
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Asia-Pacific is predicted to grow at a higher CAGR of around 9.3% over the projected period
Asia-Pacific is anticipated to witness highest growth in the marine industrial display market during the forecast period. Several factors contribute to this projected growth because the region has a booming maritime industry, driven by increasing trade activities, offshore exploration, and naval modernization programs. This creates a substantial demand for advanced display solutions. The rapid industrialization and infrastructure development in countries like China, India, and South Korea contribute to the expansion of the marine sector and the need for efficient display technologies. Additionally, the region is known for its technological advancements and large-scale manufacturing capabilities, which attract global manufacturers and foster innovation in the marine display market. Furthermore, the rising disposable income and increasing consumer spending power in emerging economies of Asia-Pacific fuel the demand for recreational marine vessels, further driving the market growth.
The report offers the appropriate analysis of the key organizations/companies involved within the global 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. Some of the major players in the global marine industrial display market include 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., and Planar Systems Inc.
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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.
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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