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Industrial Monitor Market - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 2026)
The Industrial Monitor Market was valued at USD 4.573 billion in 2020 and is expected to reach USD 7.176 billion by 2026, at a CAGR of 7.8% over the forecast period 2021 - 2026. These monitors are employed in almost all industrial verticals like manufacturing, mining, oil & gas, logistics, security & surveillance, corporations, pharmaceuticals, and healthcare. Thus, it eases work and transforms man production time over quality operations. In addition, an increment in competition in the market to match the production targets, advanced industrial monitors affects the global industrial monitor market positively. The industrial revolution 4.0 is also anticipated to be the principal factor for industrial monitor market growth. The factors including the advancement of display technologies, advancement in the use of automated technologies in the industries, and acceleration in the adoption of human-machine interfaces (HMIs) in the manufacturing and process industries encourage market growth.
- The high investment of researchers and developers in the industrial monitor sector has improved the display technologies like ...
... LED, LCD, and OLED which give higher resolution and greater brightness. The superior industrial high-grade LCD and LED display with great IP rated bezel gives operators to make application of industrial monitors in several conditions. Industrial monitors are also employed in harsh surrounding conditions in the application including metal & mining and oil & gas. This is anticipated to fuel the industrial monitor market growth globally. Though, a high primary investment in getting industrial monitors by the businesses might restrain the industrial monitor market growth.
- As industrial monitor provides multi functionalities on an individual platform, so, the installation of multiple inventories is diminished. Thus, the industrial firms are adopting automated systems and industrial monitor creates one such need of its installation. The improvement of touch screens and huge industrial-grade LCD and LED with IP ratings have pushed its usage in perilous environments such as oil & gas and metals & mining. In addition, temperature ratings are also given to the industrial monitors that allow them to function in a hazardous environment.
Key Market Trends
LCD Technology to Hold a Dominant Position for Industrial Monitors.
- When using technology for industrial applications, industrial technology needs to be high performing. The requirement for LCD gear technology that can withstand use in an array of environments and conditions intensifies. Displays are often necessary for safety, communication, and the operation of industrial tasks, but many monitors cannot be used in harsh, industrial environments, thus boosting the need for LCD Technolgy, after the proliferation of LCD screens came true â€œindustrialâ€ grade, rugged monitors.
- These meet quality standards so far above what a typical screen would ever need to endure due to LCD technology. It is interesting to learn that industrial-grade LCDs have an extended back-light half-life than a normal display and that if they are treated appropriately, they will operate much longer a normal LCDs, sometimes over 100,000 hours longer.
- Higher resolution with bigger screens, higher refresh rates with frame rate synchronization for smooth playback, high dynamic range lighting, and color gamut coupled with per pixel backlighting for clear viewing in bright sunlight and zero burns in, these LCD technologies are in use in high-end panels which are anticipated to improve and get cheaper. There is no viable alternative to LCD panels on the horizon, thus fueling the growth of the market.
- Rugged, industrial LCD displays are very different in quality from the LCD normally used in a retail or home environment. Industrial grade displays outperform the quality of regular LCDs and with thin-film transistor technology, the true industrial LCD monitors now produce a better picture quality along with durability. These rugged displays are able to withstand extreme temperatures, dust, and debris, as well as being durable to the industrial work environments.
North America Drives the Industrial Monitor Market
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From a geographical viewpoint, the global Industrial Monitors Market is presently controlled by North America. The regional market is inclined to retain its topmost spot over the forecast period as well as witnesses an immense rise in demand for interactive display modules, distant monitoring solutions, HMIs, and the increasing uptake of IoT-based technologies in the industrial sector in the area.
Numerous leading manufacturers of industrial monitors, semiconductor components displays, and HMIs are based in the region, making it a pivotal force in the global industrial monitors market. Some of the leading firms operating in the market are General Electric, Sparton Inc., Allen-Bradley, Hope Industrial System Inc., etc.
The region is also one of the biggest automotive markets in the world and is home to some principal auto manufacturers. Automotive manufacturing has been one of the greatest revenue generators, in the region, in the manufacturing division. As the automotive industry accounts for the important adoption of industrial monitors, the region gives a huge opportunity for market growth.
The Industrial Monitor Market is highly competitive and consists of several major players. In terms of market share, several of these players majorly control the market. The market has become highly competitive in the past few years owing to the rapid pace of development of display technologies and the presence of several companies that are focused on research and development efforts aimed at the development of innovative solutions in the monitor industry. These firms are leveraging strategic collaborative initiatives to increase their market share and profitability.
- July 2019 - Kontron S&T AG, signed an asset deal with Fujitsu Technology Solutions GmbH, to acquire the Augsburg-based Fujitsu industrial mainboard business. For Kontron, the acquisition of the embedded motherboard business of Fujitsu Technology Solutions is a strategic step to expand these products with its own IoT software technology. Kontron will also offer employment opportunities to Fujitsu Technology Solutions employees with the relevant skills in the areas of research and development, production and sales.
- March 2019 - ADLINK Technology, has partnered with Google Cloud to integrate ADLINK's hardware and software solutions with Google Cloud IoT offerings, providing customers with an easy path to added business value by harnessing and analyzing critical operational data.
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