Terminal LCD displays are commonly used in applications that require cost-effective and energy-efficient display systems. The global terminal LCD displays market is expected to witness high growth owing to factors such as the growing demand for consumer electronic goods, high demand from the healthcare segment, and technological advancements, which are boosting the demand for high-quality displays. On the other hand, cutthroat competition from alternative technologies is the key restraining factor that is expected to hamper the growth of this market. In 2014, the global market for terminal LCD displays was worth US$13.1 bn and is anticipated to reach a value of US$18.5 bn by the end of 2022. Thus, this market is projected to exhibit a healthy 4.30% CAGR between 2015 and 2022.
By type, the global terminal LCD display market can be divided into surface-mounted LCD displays and conventional LCD displays. In 2014, the conventional LCD displays segment gained traction and held a massive 80% share in the global terminal LCD displays market in terms of revenue. In addition, the conventional LCD displays segment is further anticipated to register a 4.20% CAGR between 2015 and 2022. The high growth rate of this segment can be attributed to their high durability, low cost, and a varied range of applications such as medical devices, industrial panels, consumer devices, retail sector products, and computer monitors.
TFT LCD Displays to Register 4.70% CAGR from 2015 to 2022
By technology, the global terminal LCD display market can be classified into monographic LCD displays and TFT LCD displays. Among these segments, in 2014, the TFT LCD displays segment witnessed high growth and held a dominant share of 70% in the global terminal LCD displays market on the basis of revenue. In addition, the TFT LCD displays segment is estimated to exhibit a 4.70% CAGR between 2015 and 2022. High picture quality, contrast, and enhanced color are some of the major factors that have fueled the TFT LCD displays market.
By application, the global terminal LCD display market can be divided into retail sector products, HMI industrial products, treatment medical devices, diagnostic imaging, medical equipment and diagnostic products, home automation products, and detection analyzers. Among all the applications, in 2014, the medical equipment and diagnostic products segment accounted for a dominant 40% of the global terminal LCD displays market in terms of revenue. Furthermore, this segment is projected to register a high growth rate in the coming years.
North America to Lead Global Terminal LCD Display Market till 2022
By geography, the global terminal LCD display market can be segmented into Asia Pacific, North America, Latin America, the Middle East and Africa, and Europe. Among all these regions, North America accounted for the largest share in the overall market. In 2014, the North America market for terminal LCD displays held a 30% share in the global market in terms of revenue. On the other hand, the Asia Pacific market for terminal LCD displays is projected to register rapid growth in the next few years. The fast growth in this region is due to the increasing demand from various nations such as Japan, China, India, South Korea, and Australia, which are the major markets for terminal LCD displays.
The prominent players operating in the global market for terminal LCD displays are Control4 Corporation, Legrand, American Industrial Systems Inc., Medtronic Inc., General Electric Co., Baxter International Inc., Sharp Electronics Corporation, Johnson & Johnson, Mitsubishi Electric Automation, Hisense Group, Fujitsu Ltd., Siemens AG, Koninklijke Philips N.V., IBM Corporation, Casio America Inc., Toshiba Corporation, Rockwell Automation, Novartis AG, Crestron Electronics, Inc., Schneider Electric SE, Bosch Rexroth Group, NCR Corporation, and Omron Corporation.
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