Professional Displays Industry Thriving with Value Set to Exceed $40 Billion in 2023

Display Technologies Market Analysis and Commentary

The professional displays industry is well-established, boasting mature product categories as well as high penetration rates in core verticals. Despite this, the industry is forecast to see a 2.8% CAGR 2019-2023, to hit over $40 billion. The commercial LCD, LED and even projection markets are expected to see value rise, respectively, over the forecasting period. According to the latest report by Futuresource Consulting: ‘The Future of Competing Displays Technology’, the industry is benefiting from several factors that will continue to drive its value long-term.

A core factor is that the perception of display technology within the core markets of corporate and education is changing. Senior Analyst, Claire Kerrison comments, “Display technology remains central to meeting and teaching environments but is now seen as part of a wider ecosystem.” Research conducted by Futuresource has found that regular usage of collaboration and connectivity solutions is mounting worldwide, which is changing not only what display technologies are being purchased but what technologies are being integrated within them.” In 2018, the number of ‘collaboration displays’ sold worldwide grew over 150%, with a 25% CAGR forecast 2019-2023.

Another growth factor is that software developments are providing new applications for displays across several verticals, often with a more tangible ROI. “The rate of advancement in software designed to run/manage content on displays has accelerated in recent years. This has redefined the value of display investment in some applications (such as customer analytics in signage), whilst creating new opportunities in others (including architainment and immersive experiences),” adds Kerrison.

Ultimately, investments in R&D, across every display technology type, continue to push product excellence and maintain replacement rates, whilst opening-up new vertical opportunities. Kerrison explains, “Projection technology is a prime example of this; it has been on the market for over twenty years, but product innovation has only accelerated in recent years. Advances in solid state light source technology; expansion into ever-higher brightness categories and greater availability of 4K resolution are just some of the ways in which projection technology is remaining relevant against newer solutions, especially in emerging applications such as architainment.”

Further evidence of the sustained investment in R&D that will help to propel the industry longer-term includes programmatic advertising in digital signage, which introduces automation, increasing the value in further screen deployments, and deformable/flexible displays – which has the potential to completely radicalise where displays are installed and how they are utilised.

Futuresource’s report assesses how each of the pro display technologies are set to compete across major verticals, respectively, including an analysis of the influencers driving this development. “The industry is shifting to be solution-focussed rather than product-led, as ecosystems become a core focus. This is causing major shifts in product technology dynamics – which is why Futuresource’s approach of conducting cross-product analysis is proving to be crucial when accurately forecasting long-term trends,” comments Kerrison.

For more information on the Future of Competing Display Technologies report, please get in touch with Matthew Ledgerwood via matthew.ledgerwood@futuresource-hq.com

About the author

Claire Kerrison

Claire Kerrison leads the Education team, overseeing Futuresource’s quarterly K-12 PC tracker and end-user research programs. Claire is closely involved in the formation and delivery of custom projects covering the EdTech sphere.

Claire joined Futuresource in 2011 from the University of Birmingham where she collaborated on a broad range of market tracking and strategic projects covering the Displays industry. Claire went on to lead the Displays team, with a focus on developments in the Front Projector market.