Market Size of Industrial Monitor Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Industrial Monitor Market Analysis
The Industrial Motors Market is expected to grow by registering a CAGR of 6.5% during the forecast period. Increasing use of the Industrial Internet of Things (IIoT), multi-featured Human-Machine Interface (HMI) devices, and the spread of smart industrial displays are some of the reasons boosting the market growth.
- Industrial monitors are used in many different industrial sectors, including manufacturing, mining, oil & gas, logistics, security, and healthcare. These monitors streamline labor and improve worker productivity over high-quality processes. As a result, it makes labor easier and shifts man-hour productivity toward quality operations. The worldwide industrial monitor market is positively impacted by increased market competitiveness to match production targets and improved industrial monitors.
- The main driver of the industrial monitor market growth is also projected to be the fourth industrial revolution. The development of display technologies, automated technologies in the industry, and the quick adoption of human-machine interfaces (HMIs) in the manufacturing and process sectors all contribute to the market's expansion.
- As industrial monitor provides multi functionalities on an individual platform, the installation of multiple inventories is diminished. Thus, industrial firms are adopting automated systems, and industrial monitor creates one such need for installation.
- The industrial monitor industry has invested much in research and development, which has developed display technologies, including LED, LCD, and OLED, that provide higher resolution and greater brightness. The IP-certifiedified bezel and outstanding industrial high-grade LCD and LED display allow operators to use industrial monitors in various settings. This is expected to propel the industrial monitor market's expansion on a global scale.
- Moreover, the development of sizeable industrial-grade LCD and LED displays with IP ratings and touch panels has increased their use in hazardous settings, including the mining, metals, and oil industries. Industrial monitors are also given temperature ratings that enable them to operate in dangerous environments.
- Regulations governing the production and sale of industrial displays differ by region or nation. For instance, the use of cadmium, lead, mercury, hexavalent chromium, and flame retardants, such as polybrominated diphenyl ethers (PBDE) or polybrominated biphenyls (PBB), in electronic equipment has been somewhat restricted by the European Union Law on the Restriction of Hazardous Substances (RoHS).
- However, the high initial expenditure required by enterprises to purchase industrial monitors may limit the market's expansion. One of the main issues facing the industrial display market is manufacturers' reliance on different suppliers for equipment and components.
Industrial Monitor Industry Segmentation
The industrial monitor is an output display device, which offers a wide range of features for industrial companies. The monitor varies over different size, various display technologies, and touch functions. Industrial monitoring finds its application in a monitor, control, surveillance, analysis, and others, which provide multi-functions at one spot to the operators.
The Industrial Monitor Market is segmented by Display Technology (LCD, LED, OLED), Type (Flat Screen, Rugged Design, Entry Level), Industry Vertical (Automotive, Logistics and Transportation, Oil and Gas, Retail, Medical and Health Care, Metal and Mining), and Geography. The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.
| By Display Technology | |
| LCD | |
| LED | |
| OLED |
| By Industry Vertical | |
| Automotive | |
| Logistics and Transportation | |
| Oil and Gas | |
| Medical and Healthcare | |
| Metal and Mining | |
| Other Industry Verticals |
| By Geography | ||||||
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| Rest of the World (Latin America & Middle East ) |
Industrial Monitor Market Size Summary
The industrial monitor market is poised for significant growth, driven by the increasing integration of the Industrial Internet of Things (IIoT) and advanced Human-Machine Interface (HMI) devices. These monitors are essential across various sectors such as manufacturing, mining, oil and gas, logistics, security, and healthcare, enhancing labor efficiency and productivity. The fourth industrial revolution, characterized by the adoption of automated and display technologies, is a key factor propelling market expansion. Industrial monitors, with their multi-functional capabilities, reduce the need for multiple installations, thereby encouraging the adoption of automated systems. The industry's investment in research and development has led to advancements in display technologies like LED, LCD, and OLED, which offer higher resolution and brightness, further fueling market growth.
Geographically, North America leads the industrial monitor market, supported by its robust automotive industry and increasing demand for digital signage and IoT-based technologies. The region's market is bolstered by significant investments in industrial automation and IIoT applications. The competitive landscape is marked by the presence of major players who are focusing on innovative solutions and strategic collaborations to enhance their market share. Recent product launches, such as Rockwell Automation's Allen-Bradley ASEM 6300M monitors and Oizom's AQBot air quality monitor, highlight the industry's commitment to meeting diverse industrial needs. Despite the high initial costs and reliance on various suppliers, the market continues to expand, driven by technological advancements and the growing need for rugged, high-quality displays in industrial settings.
Industrial Monitor Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Value Chain Analysis
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Bargaining Power of Suppliers
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1.3.2 Bargaining Power of Consumers
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1.3.3 Threat of New Entrants
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1.3.4 Intensity of Competitive Rivalry
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1.3.5 Threat of SubstituteProdcuts
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1.4 Technology Snapshot
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1.5 Assessment of the Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Display Technology
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2.1.1 LCD
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2.1.2 LED
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2.1.3 OLED
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2.2 By Industry Vertical
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2.2.1 Automotive
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2.2.2 Logistics and Transportation
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2.2.3 Oil and Gas
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2.2.4 Medical and Healthcare
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2.2.5 Metal and Mining
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2.2.6 Other Industry Verticals
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2.3 By Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.2 Europe
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2.3.2.1 United Kingdom
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2.3.2.2 Germany
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2.3.2.3 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Rest of Asia-Pacific
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2.3.4 Rest of the World (Latin America & Middle East )
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Industrial Monitor Market Size FAQs
What is the current Industrial Monitor Market size?
The Industrial Monitor Market is projected to register a CAGR of 6.5% during the forecast period (2024-2029)
Who are the key players in Industrial Monitor Market?
Advantech Co., Ltd., Kontron S&T AG, ADLINK Technology Inc., Sparton Inc. and Siemens AG are the major companies operating in the Industrial Monitor Market.
