Industrial IoT Display Market Size share value Trends and Growth Drivers [2028]
Chicago, Sept. 25, 2023 (GLOBE NEWSWIRE) — The Industrial IoT Display Market Size is projected to reach USD 1.6 billion by 2028 from an estimated USD 0.9 billion in 2023, at a CAGR of 13.3% from 2023 to 2028. The growing adoption of IoT and increasing demand for HMI devices are among the factors driving the growth of the Industrial IoT Display market. The Industrial IoT Display companies such as E Ink Holdings Inc. (Taiwan), BOE Technology Group Co., Ltd. (China), Advantech Co., Ltd. (Taiwan), Pepperl+Fuchs SE (Germany), Sharp Corporation (Japan), PDi Digital (Austria), Planar Systems, Inc. (US), Winmate Inc. (Taiwan), Maple Systems Inc. (US).
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Market Dynamics:
Driver: Rising emphasis on real-time data analysis and predictive maintenance
With the advent of technologies, such as the Industrial Internet of Things (IoT), predictive analytics is becoming more intelligent and empowering the manufacturing vertical. Along with the rising demand, manufacturers are using the capabilities of predictive analytics to enhance their production abilities.
Restraint: High installation and maintenance costs
The installation cost of industrial IoT displays and HMI systems is high, which acts as a major restraint for the growth of the market across Asia Pacific, the Middle East & Africa, and South America, which are among the cost-sensitive markets. The high installation cost of industrial IoT displays and HMI systems is due to the involvement of various stages, such as consultation, acquisition, implementation, and running costs, that further increase the expenditure of the installing company.
Opportunity: Growing demand for digital signage in industries
Industries have witnessed an increase in the adoption of digital signage in manufacturing and oil & gas applications. Digital signage displays such as industrial-grade touchscreen monitors, interactive touchscreen signage, and interactive display systems are used in different industrial environments based on the end application and use.
Challenge: Increasing security risks associated with cloud–HMI platform
Cloud-IoT displays are gaining popularity as they can reduce initial costs, provide easy access, and quick deployment. However, security concerns associated with cloud computing are a major concern for end users. On a cloud-based platform, many customers can use the same service, which raises issues of data vulnerability.
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Market Leader – Industrial IoT Display Market
E Ink Holdings Inc.
E Ink Holdings Inc. is the inventor and forerunner in ePaper technology. The firm provides innovative display components to brands and manufacturers, enabling them to install highly durable, low-power screens in a variety of applications and settings. The various applications catered by the company include reading & writing, mobile & wearables, retail, healthcare & hospitals, transportation & outdoor, indoor large area signages, industrial & packaging, lifestyle, and architecture.
BOE Technology Group Co., Ltd.
BOE Technology Group Co., Ltd. Is a leading manufacturer of LCDs, OLEDs, flexible displays, interface devices, smart IoT systems, and smart medicine and engineering integration services. The company operates through five operating divisions, namely, Display, Sensor and Application, IoT Innovation, Mini/Micro LED (MLED) and Smart Medicine and Engineering. The company also offers TFT LCD, AMOLED, and other intelligent interface devices through the Display segment.
Related Reports:
The major players in the industrial communication Market Industry include Cisco Systems, Inc. (US), Siemens (Germany), Rockwell Automation (US), OMRON Corporation (Japan), Moxa Inc. (Taiwan), Huawei Technologies Co., Ltd. (China), SICK AG (Germany), Schneider Electric (France), ABB (Switzerland).
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