Dublin, Nov. 18, 2021 (GLOBE NEWSWIRE) -- The "Industrial Monitor Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
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 "industrial" 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
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.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 The Growing Demand for HMI Devices
4.3.2 The Augmented Adoption of IoT
4.4 Market Restraints
4.4.1 High Primary Investment in Getting Industrial Monitors by the Businesses
4.5 Industry Attractiveness - Porter's Five Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Display Technology
5.2 By Type
5.2.1 Flat Screen
5.2.2 Rugged Design
5.2.3 Entry Level
5.3 By Industry Vertical
5.3.2 Logistics & Transportation
5.3.3 Oil & Gas
5.3.5 Medical & Health Care
5.3.6 Metal & Mining
5.3.7 Security & Surveillance
5.4.1 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.4.4 Rest of the World
126.96.36.199 Latin America
188.8.131.52 Middle-East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Advantech Co., Ltd.
6.1.2 Kontron S&T AG
6.1.3 ADLINK Technology Inc.
6.1.4 Sparton Inc.
6.1.5 Siemens AG
6.1.6 Rockwell Automation, Inc.
6.1.7 General Electric Company
6.1.8 Hope Industrial System Inc.
6.1.10 AAEON Technology Inc.
6.1.11 Axiomtek Co. Ltd.
6.1.12 National Instruments Corporation
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/gzkgmz
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