With a large pool of participants, the global terminal LCD displays market exhibits an extremely fragmented structure. Only a few players, namely Siemens AG, Honeywell International Inc., GE Healthcare, Johnson and Johnson Services Inc., Schneider Electric SE, and Koninklijke Philips have been able to establish themselves in this market, says Transparency Market Research.
A huge section of small-scale terminal LCD manufacturers resides in various geographical areas. These players have limited presence at the global level; however they are well-established in their local market, so much so that it pose a serious challenge for a leading company from another region to penetrate that market.
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TMR recommends international manufacturers as well as players looking to foray in other regions to focus on home automation and retail product segments in emerging economies. Development of distribution channels will also help in gaining a foothold in foreign regions.
Emergence of Connected Devices and Advanced Mobile Technologies to Fuel Adoption of Terminal LCD Displays
Thanks to the rapid advancements in technologies, the consumer electronics industry has been witnessing a major shift in customer preferences over the last few years. Terminal LCD displays, being a prominent segment of this industry, are highly influenced by this overhaul. The frequently-changing customer preferences, propelled by the rising disposable income, have increased innovations and technical advancements in consumer electronics, including terminal LCD displays, thereby augmenting their demand significantly.
Going forward, the emergence of connected devices and advanced mobile technologies are likely to escalate the adoption of terminal LCD displays considerably in the near future. The rising demand for biomedical devices, fueled by the implementation of government regulations for their mandatory installation in several countries, is also expected to drive the demand for these displays.
Furthermore, terminal LCD displays are likely to gain significant traction due to the growing preference for home automation display panels among consumers across the world over the next few years.
Terminal LCD Displays Find Widespread Application in Medical Equipment and Diagnostic Products
According to Transparency Market Research, rising at a CAGR of 4.30% during the period from 2015 and 2024, the global opportunity in terminal LCD displays is expected to rise from US$13.09 bn in 2014 to US$18.50 bn by the end of the forecast period.
Regionally, North America held the leading share of 28.9% in the sale of terminal LCD displays in 2014, worldwide. The revenue generated in this regional market was US$3.7 bn in 2014, which is likely to reach US$5.1 bn by 2024, rising at a CAGR of 3.70% between 2015 and 2024. However, the sale of terminal LCD displays is expected to report the fastest CAGR of 5.10% in Asia Pacific during the same period, estimates TMR.
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Terminal LCD displays are mostly utilized in medical equipment and diagnostic products. This segment is anticipated to remain the leading application area for these displays between 2015 and 2024. By type, conventional LCD displays are expected to remain the most preferred displays in the near future. TFT LCD displays will continue to exhibit a high demand in terms of technology over the next few years.
The study presented here is based on the findings of a report by Transparency Market Research (TMR) titled “Terminal LCD Displays Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2024.”
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