Industrial Monitor Market Overview
As per MRFR analysis, the Industrial Monitor Market Size was estimated at 3.98 (USD Billion) in 2022. The Industrial Monitor Market Industry is expected to grow from 4.37 (USD Billion) in 2023 to 10.2 (USD Billion) by 2032. The Industrial Monitor Market CAGR (growth rate) is expected to be around 9.87% during the forecast period (2024 - 2032).
Key Industrial Monitor Market Trends Highlighted
Key market drivers for industrial monitors include the increasing demand for automation, digitalization, and connectivity in industrial environments. Industrial monitors are crucial for monitoring and controlling production processes, improving efficiency, and reducing downtime. The growing adoption of Industry 4.0 and the Internet of Things (IoT) is further driving the demand for industrial monitors.
Opportunities in the industrial monitor market lie in the expansion of emerging industries, such as renewable energy and electric vehicles. These industries require specialized monitoring solutions that can withstand harsh environmental conditions and provide precise data acquisition. Additionally, the growing trend towards remote monitoring and maintenance opens up opportunities for cloud-based industrial monitoring platforms.
Recent trends in the industrial monitor market include the adoption of touchscreens, rugged designs, and wireless connectivity. Touchscreens provide a more intuitive and user-friendly interface, while rugged designs ensure that monitors can withstand harsh industrial environments. Wireless connectivity allows for remote monitoring and maintenance, reducing downtime and improving overall efficiency.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Industrial Monitor Market Drivers
Advancements in Manufacturing Industry
The global industrial monitor market is anticipated to expand greatly over the next decade due to the development of the manufacturing sector and the growing demand for automation and digitization. The importance of industrial monitors in contemporary manufacturing processes is crucial. They provide real-time data and visualizations that allow operators to oversee and manage production lines efficiently. The increasing adoption of Industry 4.0 technologies is enhancing industrial monitors across the globe.The latest models are designed to have sophisticated features such as touchscreens, high-resolution displays, and connectivity to the Industrial Internet of Things. Increased automation and reliance on robotics in the manufacturing process are leading to further demand for industrial monitors. These devices provide visual feedback to robots and other automated machinery and ensure their increased precision and efficiency. As the manufacturing industry evolves, the need for industrial monitors that are reliable and resilient will persist.
As highlighted in a recent study, the global industrial monitor market is estimated to reach a value of 10.2 billion USD by 2032. Its compound annual growth rate throughout the forecasted period will equal 9.87%. The reasons for such expansion are several. First, nations across the world are increasingly adopting advanced technologies in their manufacturing sectors. Second, the growing implementation of automation alongside the increased demand for this change across various sectors will further enhance market expansion.
Adoption of Digital Signage in the Commercial Sector
The commercial sector is another crucial factor contributing to the growth of the global industrial monitor market. Industrial monitors are often used in digital signage applications, including interactive kiosks, advertising displays, and wayfinding systems. Businesses enjoy many advantages of digital signage, such as increased brand visibility, heightened customer engagement, and better communication. With its durability, high brightness, and capacity to withstand harsh conditions, industrial monitors are ideal for these applications. As digital signage proves to be extremely beneficial to businesses in terms of enhancing customer experiences and driving sales, the demand for industrial monitors in the commercial sector will continue to grow. Retail, hospitality, and healthcare sectors will likely experience the most significant growth as they are increasingly using digital signage.
Government and Healthcare Initiatives
Government initiatives and regulations are also promoting the development of the global industrial monitor market. There is a growing trend of governments funding infrastructure projects all over the world, such as smart cities and intelligent transportation systems. Such projects require advanced monitoring and control systems that often involve using industrial monitors for data visualization and analysis. Industrial monitors have gained popularity among healthcare providers for patient monitoring, surgical displays, and medical imaging applications. Since industrial monitors have high-quality visuals, which are indispensable for medical personnel, are extremely durable and comply with most relevant medical standards, their demand in the healthcare sector is expected to remain strong as healthcare systems keep modernizing and going digital.
Industrial Monitor Market Segment Insights
Industrial Monitor Market Display Type Insights
The Global Industrial Monitor Market is divided into three main display types: LCD, LED and OLED. In 2023, LCD was the dominant segment, which constituted about 60 percent of the global revenue. Further, in the period from 2024 to 2032, the LED submarket will have the highest CAGR due to the increasing usage of more energy-efficient, higher-brightness displays. LCD monitors are the most widely used type in numerous industrial applications because of their relative inexpensiveness, medium reliability, and long useful life. Additionally, they have a wide range of screen sizes and resolutions.
However, it is important to note that LCD monitors have a low viewing angle and inaccurate color rendering comparison with other segments. LED monitors have become increasingly popular in recent years because of their high brightness, energy efficiency, and wide range of colors. In addition, these tools offer a high-contrast image quality and, consequently, can be used in applications that require the highest precision. Further, the LED submarket’s tools have a slightly thin shape and a longer life than the LCD submarket. OLED monitors are the most advanced on the market and have the most striking image, color rendering, and viewing quality.
These monitors, like each pixel, glow. They have the ability to turn off the light source entirely, which symbolizes the true black. Additionally, OLED monitors have an incredibly small, pliable form factor, which opens up new applications and opportunities. The development of this market is also affected by increasing automation, digitalization, and the demand for high-quality images and the opportunity to develop advanced new displays. The market size will be at USD 4.37 billion in 2023 and grow at a CAGR of 9.87 percent from 2024 to 2032, when it will reach an approximation of USD 10.2 billion.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Industrial Monitor Market Panel Size Insights
The report offers details about the Global Industrial Monitor Market by Panel Size Analysis. The market is segmented by panel size into 15-19 inches, 20-24 inches, 25-29 inches, and 30-34 inches. Among these segments, the 20-24 inches panel size will dominate the market over the forecast period. The 20-24 inches panel size growth is due to the increased adoption of industrial monitors across several industries such as manufacturing, healthcare, and transportation. The growth of the market is also influenced by the popularity of high-resolution displays and the use of advanced technologies.
As per other industry reports, the 20-24-inch panel size is expected to reach a value of USD 2,400 million by 2026 and grow at a CAGR of 8.5% consistently throughout the estimated period.
Industrial Monitor Market Resolution Insights
The resolution segment plays a crucial role in determining the Global Industrial Monitor Market revenue and segmentation. In 2023, the Full HD (1920x1080) resolution dominated the market, capturing a significant share. However, the 4K Ultra HD (3840x2160) resolution is projected to witness substantial growth in the coming years, owing to its enhanced image quality and immersive viewing experience. The 8K Ultra HD (7680x4320) resolution is still in its nascent stage but holds immense potential for future growth, driven by technological advancements and increasing demand for high-resolution content.
Industrial Monitor Market Refresh Rate Insights
The Global Industrial Monitor Market is segmented by Refresh Rate into 60Hz, 120Hz, 144Hz, and 240Hz. Among these, the 60Hz segment held the largest market share in 2023, accounting for nearly half of the overall revenue. This can be attributed to the widespread adoption of 60Hz monitors in various industrial applications due to their affordability and compatibility with legacy systems. However, the 120Hz and 144Hz segments are projected to witness significant growth in the coming years, owing to the increasing demand for higher refresh rates in gaming, video editing, and other applications that require smooth and responsive visuals. The 240Hz segment, though still a niche market, is expected to gain traction in the future as more high-end gaming monitors and esports displays enter the market.
Industrial Monitor Market Application Insights
The Global Industrial Monitor Market segmentation by Application is a crucial aspect of understanding the market dynamics and growth opportunities. In 2023, the Industrial automation segment held the largest revenue share of over 40%. The increasing adoption of automation solutions in manufacturing, energy, and other industries is driving the growth of this segment. The Healthcare segment is also witnessing significant growth due to the rising demand for advanced medical imaging and monitoring systems. The Security and surveillance segment is expected to grow at a CAGR of over 10% during the forecast period, fueled by the growing need for security and surveillance solutions in various sectors such as retail, transportation, and government. The Transportation segment is anticipated to contribute a substantial share to the Global Industrial Monitor Market revenue, owing to the increasing demand for advanced monitoring systems in vehicles and transportation infrastructure.
Industrial Monitor Market Regional Insights
The regional segmentation of the Global Industrial Monitor Market offers valuable insights into the geographical distribution of market growth and opportunities. North America holds a significant share of the market, driven by the presence of key players and advanced industrial infrastructure. Europe follows closely, with a strong demand for industrial monitors in the manufacturing and automation sectors. The Asia-Pacific (APAC) region is expected to witness substantial growth, fueled by rapid industrialization and urbanization in countries like China and India. South America and the Middle East and Africa (MEA) regions are also expected to contribute to the overall market growth, albeit at a slower pace. These regional insights are crucial for businesses to understand market dynamics and tailor their strategies accordingly to capture growth opportunities.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Industrial Monitor Market Key Players And Competitive Insights
Major players in Industrial Monitor Market industry are continuously developing advanced technologies to meet the evolving needs of customers. This competitive landscape is driven by factors such as strategic partnerships, mergers and acquisitions, and product innovations. Leading Industrial Monitor Market players are focusing on expanding their global presence and diversifying their product portfolios to cater to a wider customer base.
One of the prominent players in the Industrial Monitor Market development, Dell Technologies, offers a comprehensive range of industrial monitors designed for various applications in automation, manufacturing, and healthcare sectors. The company's Industrial Grade Monitors feature ruggedized designs, high brightness levels, and extended operating temperatures to withstand harsh industrial environments. Dell Technologies also provides customized solutions and tailored services to meet the specific requirements of its customers.
A notable competitor in the Industrial Monitor Market Competitive Landscape is Siemens AG. The company's range of industrial monitors includes both standard and customized solutions for automation and process control applications. Siemens AG focuses on providing high-quality, reliable products that meet industry standards and certifications. The company's industrial monitors are known for their durability, long-term performance, and advanced features such as multi-touch capabilities and energy efficiency.
Key Companies in the Industrial Monitor Market Include
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Omron Corporation
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Emerson
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Rockwell Automation
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Beckhoff Automation
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Mitsubishi Electric
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Advantech
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Yokogawa Electric
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GE Digital
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Schneider Electric
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Siemens
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ABB
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Cisco Systems
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National Instruments
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Honeywell
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Eaton Corporation
Industrial Monitor Market Industry Developments
The global industrial monitor market is anticipated to reach a valuation of 10.2 billion USD by 2032, expanding at a CAGR of 9.87% from 2024 to 2032. The rising demand for industrial automation and digitalization, particularly within manufacturing, energy, and healthcare industries, is driving market growth. Advancements in display technologies, such as the integration of touchscreens and high-resolution displays, are further fueling market expansion. Recent developments include the launch of ruggedized industrial monitors designed to withstand harsh operating conditions and the integration of IoT capabilities to enable remote monitoring and control. Key players in the market include Siemens, Rockwell Automation, ABB, and Schneider Electric.
Industrial Monitor Market Segmentation Insights
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Industrial Monitor Market Display Type Outlook
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Industrial Monitor Market Panel Size Outlook
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15-19 inches
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20-24 inches
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25-29 inches
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30-34 inches
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Industrial Monitor Market Resolution Outlook
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Full HD (1920x1080)
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4K Ultra HD (3840x2160)
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8K Ultra HD (7680x4320)
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Industrial Monitor Market Refresh Rate Outlook
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Industrial Monitor Market Application Outlook
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Industrial Monitor Market Regional Outlook
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North America
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Europe
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South America
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Asia Pacific
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Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
3.98(USD Billion) |
| Market Size 2023 |
4.37(USD Billion) |
| Market Size 2032 |
10.2(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
9.87% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Omron Corporation, Emerson, Rockwell Automation, Beckhoff Automation, Mitsubishi Electric, Advantech, Yokogawa Electric, GE Digital, Schneider Electric, Siemens, ABB, Cisco Systems, National Instruments, Honeywell, Eaton Corporation |
| Segments Covered |
Display Type, Panel Size, Resolution, Refresh Rate, Application, Regional |
| Key Market Opportunities |
AIpowered analytics Remote monitoring capabilities Customization for specific applications IoT integration Predictive maintenance |
| Key Market Dynamics |
Rising demand Automation Technological advancements Emerging economies IoT integration |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The global industrial monitor market is anticipated to reach a valuation of approximately 4.37 billion USD in 2023.
The Global Industrial Monitor Market is estimated to exhibit a CAGR of 9.87% from 2024 to 2032.
North America is expected to dominate the Global Industrial Monitor Market, owing to the increasing adoption of industrial automation and the presence of major manufacturing hubs in the region.
Industrial monitors find applications in various industries, such as manufacturing, healthcare, transportation, and energy, for monitoring and controlling processes, displaying data, and providing visual information.
Major players in the Global Industrial Monitor Market include Siemens, Schneider Electric, ABB, Rockwell Automation, and Mitsubishi Electric.
Factors contributing to the growth of the Global Industrial Monitor Market include the increasing demand for automation in manufacturing, the adoption of Industry 4.0 technologies, and the growing need for real-time data monitoring and control in various industries.
Challenges faced by the Global Industrial Monitor Market include the high cost of implementation, the need for skilled professionals to operate and maintain the systems, and the potential security risks associated with connected devices.
Emerging trends in the Global Industrial Monitor Market include the integration of AI and IoT technologies, the adoption of cloud-based monitoring solutions, and the increasing use of touchscreens and other user-friendly interfaces.
The Global Industrial Monitor Market is projected to reach a valuation of approximately 10.2 billion USD by 2032.
Growth opportunities for players in the Global Industrial Monitor Market include expanding into emerging markets, developing innovative products and solutions, and providing value-added services such as maintenance and support.
