Albany, NY, Jan. 19, 2016 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research, the global terminal LCD displays market was worth US$13.09 bn in 2014 and is expected to reach US$18.50 bn by 2022, expanding at a CAGR of 4.3% from 2015 to 2022. North America was the largest market for terminal LCD displays in 2014. Growth in this region is attributed to its fast innovation and development in technology contributing to retail, healthcare, and industrial automation products.
Terminal LCD displays are widely deployed in applications that demand an energy-efficient and cost-effective display systems. This is because terminal LCD displays allow for the display of data or information as per the application and demand. Terminal LCD displays are commonly deployed for home automation and HMI industrial products, including HMI touch panels, industrial PCs, operator interface terminals, and small-sized panels. The installation of LCD displays in medical equipment due to low cost is also picking up gradually.
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With the technological advancements of terminal LCD displays providing a wide viewing angle and high brightness and contrast at very low cost, industries prefer the use of these displays instead of switching to alternative technologies such as OLED displays. The rapid expansion of the consumer electronics market, along with technological advancements, has provided necessary momentum for market growth. With the application of LCD displays in home automation products, HMI industrial products and medical equipment, demand for terminal LCD displays is expected to soar during the forecast period.
On the basis of types of LCD display, the global terminal LCD displays market is segmented into conventional LCD displays and surface-mounted LCD displays. In 2014, conventional LCD displays were the most preferred displays, and accounted for around 80% of the revenue of the overall terminal LCD displays market. Moreover, these displays are expected to expand at a CAGR of 4.2% from 2015 to 2022. The most significant factor driving the market for conventional LCD displays is their low cost, high durability, and their wide range of applications including computer monitors, retail sector products, industrial panels, medical devices, and consumer devices.
Based on technology, the global terminal LCD displays market is segmented into TFT LCD displays and monographic LCD displays. In 2014, among these, TFT LCD displays were the most preferred displays, and accounted for around 70% of the revenue of the overall terminal LCD displays market. Moreover, these displays are expected to expand at a CAGR of 4.7% from 2015 to 2022.
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In terms of various applications, the terminal LCD displays market is segmented into medical equipment and diagnostic products, HMI industrial products, home automation products, and retail sector products. In 2014, medical equipment and diagnostic products held the largest revenue share of around 40% of the overall terminal LCD displays market. Terminal LCD displays deployed in medical equipment and diagnostic products are expected to expand at the fastest CAGR in terms of revenue during the forecast period from 2015 to 2022.
Geographically, North America is the largest market for terminal LCD displays, globally. In 2014, North America accounted for around 30% of the overall terminal LCD displays market revenue share. Furthermore, Asia Pacific is expected to witness the fastest growth during the forecast period. China, India, Japan, Australia, and South Korea are among the major markets for terminal LCD displays market in this region.
Other Reports Published By Transparency Market Research:
OLED Display Market
Outdoor LED Displays Market
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Source:Transparency Market Research