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Embedded display market to reach USD $66.3 million by 2034, study shows
Tue, 19th Mar 2024

According to a recent analysis by Fact.MR, the global embedded display market, is predicted to reach a remarkable USD $66.3 million valuation by 2034. The market, expected to achieve a steady growth rate of 11.6% until 2034, will be worth USD $22.2 million by 2024.

This market growth is attributed to a variety of applications and technological developments. Embedded displays, which are integrated into electronic devices, have been essential across several sectors, enhancing user experiences and functionality.

This growth is specifically driven by the rise in demand for embedded displays in consumer electronics, driven by items like smartphones, tablets, and smartwatches. As consumers seek compact and attractive devices, this trend encourages the integration of innovative embedded display technologies, thereby fuelling market growth.

Another significant driver of market growth is industrial automation. Embedded displays are crucial in human-machine interfaces, enabling real-time data visualisation and enhancing operational efficiency. As the industrial sector spends more on automation, the demand for these displays continues to grow.

However, despite the promising outlook, challenges persist within the embedded display market. High development and implementation costs are a significant obstacle, especially for smaller firms with restricted budgets. Rapid technological obsolescence presents another challenge, with emerging technologies often rendering existing displays obsolete, subsequently affecting the lifespan of investments.

On the global front, the United States emerges as a substantial player, reaping the benefits of a robust technological ecosystem, extensive research facilities and a large consumer electronics market. China's market growth, on the other hand, is driven by its rapid industrialisation, government initiatives supporting innovation, and a growing middle-class population.

The report details that the North American market is projected to expand at a CAGR of 12% by 2034. The embedded display industry in the US is predicted to hold a market share of 72.2% in 2024, with the market valued at USD $4.4 million. China's embedded display industry is forecasted to grow at a CAGR of 12.3% throughout the same period.

A Fact.MR analyst stated: "The surge in demand for integrated displays in consumer electronics is a major driver in the embedded display industry as smartphones, tablets, and smartwatches fuel the demand as consumers seek compact and visually appealing devices, spurring the adoption of advanced embedded display technologies."

The report also reveals the industry's competitive landscape, characterised by intense competition among well-established and emerging players vying for market prominence. Key vendors named in the study include Microsoft, Intel, Avnet, Green Hills Software, AndersDX, Planar Systems, ENEA AB, Altia, and Data Modul.

The study provides insights into the market based on the Display Type (LED, LCD, OLED, TFT, Other Display Type), Application (Wearable Devices, Industrial Automation Systems, Automotive Equipment, HVAC, Home Appliances, Construction Equipment, Fitness Equipment, Medical Devices), and Region, including North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and the Middle East and Africa.