Commercial Display Market Size, Share & Trends Analysis Report By Product (Digital Signage, Display Monitor, Display TVs), By Technology (LCD, LED), By Component, By Display Size, By Display Type, By Application, By Region, And Segment Forecasts, 2024 - 2030

Commercial Display Market Size & Trends

The global commercial display market size was estimated at USD 50.76 billion in 2023 and is projected to grow at a CAGR of 6.5% from 2024 to 2030. The market has witnessed an increasing demand for customized digital signage solutions in different sectors, especially the healthcare and public transportation sectors. Digital signage offers the flexibility to update content in real time, enabling businesses to tailor messages to specific audiences, times of day, or events. This adaptability is particularly valuable in retail environments, where in-store promotions, product information, and interactive displays can enhance the shopping experience and drive sales.

The growth in advertising and marketing expenditure is fueled by businesses' efforts to capture consumer attention in an increasingly competitive market. As companies strive to differentiate their brands and make a lasting impression, they are investing more in innovative advertising solutions, including digital displays. These displays offer a visually appealing and dynamic way to engage consumers, especially in high-traffic areas such as retail stores, transportation hubs, and public spaces. The shift towards digital-native consumers, who prefer digital content over traditional media, further drives this trend, prompting businesses to allocate larger portions of their budgets to commercial displays.

Rapid urbanization is leading to the growth of the commercial sector in developing economies owing to developments in infrastructure and changing lifestyles. Industries such as retail and hospitality are using state-of-the-art, digitized promotional approaches to advertise their products & services in an effective & impactful manner. As a result, the demand for commercial displays is increasing notably and is likely to continue to increase over the forecast period across the world. In addition, the growing demand for 4K and 8K commercial displays integrated with technologies such as artificial intelligence, AI upscaling, and machine learning is expected to contribute to the market growth.

The advertising industry is witnessing increased production of ultra-HD content, unlike earlier when the devices used to produce UHD content served limited purposes and were expensive, such as 4K TVs that served limited purposes. The growing production of UHD content by advertisers for various advertising applications is driving the demand for 8K and 4K commercial display products. Furthermore, massive investments from manufacturers for the development of high-end-specification products with increased energy efficiency are also anticipated to drive market growth. As energy conservation is becoming one of the crucial factors for sustainable development of the business sector, the demand for new technologies such as OLED and micro-LED that help organizations save energy is increasing.

The market is experiencing several notable technology trends that are driving innovation and adoption across various industries. Artificial intelligence (AI) and machine learning (ML) are being integrated into commercial displays to deliver personalized content based on viewer behavior and preferences. This technology enables targeted advertising and customized information delivery, enhancing the relevance and effectiveness of digital signage. AI-powered analytics tools provide valuable insights into viewer engagement, demographics, and behavior. Businesses can use this data to optimize their content strategies and improve the ROI of their display investments.

Industry Dynamics

The market is slightly competitive, with a few well-established players holding significant market shares. Key players include LG DISPLAY CO., LTD., Panasonic Holdings Corporation, SAMSUNG, and Sharp Electronics Corporation, among others. These companies leverage their brand reputation, extensive product portfolios, and strong distribution networks to maintain their market positions. However, the entry of new players, particularly from emerging economies, and the introduction of disruptive technologies can intensify competition, leading to diversified product offerings and potential price pressures. Differentiation strategies, such as focusing on specific verticals or specialized display solutions, are employed by both established and emerging players to gain a competitive edge.

The market is marked by continuous innovation aimed at enhancing display quality, energy efficiency, and seamless integration with digital signage software and content management systems. Key areas of innovation include:

• Higher resolutions.

• Improved color accuracy.

• Slimmer bezels.

• Ruggedized designs for outdoor applications.

• The development of transparent and flexible displays.

Manufacturers are exploring advanced technologies like micro-LED, mini-LED, and OLED displays to offer superior image quality and energy efficiency.

Strategic partnerships and collaborations are prevalent within the industry, facilitating the development of comprehensive solutions that combine hardware, software, and services. Display manufacturers often collaborate with software providers, content management system developers, and system integrators to create tailored solutions for specific verticals like retail, hospitality, transportation, and corporate environments. These partnerships enable the integration of display hardware with digital signage software, content management platforms, and analytical tools, delivering enhanced value propositions to end-users.

Regulatory factors play a crucial role in shaping the market. Energy efficiency standards and environmental regulations significantly influence product design and development strategies. Manufacturers must comply with regulations such as Energy Star and eco-design directives, which mandate specific energy consumption and environmental impact thresholds. In addition, industry certifications and standards, like those from VESA (Video Electronics Standards Association), ensure interoperability and compatibility, fostering adoption across diverse applications.

While traditional display technologies like LCD and LED dominate the market, alternative solutions are emerging as potential substitutes. Projection systems, particularly laser-based projectors, offer a viable alternative for large-scale displays, enabling flexible and scalable installations. Transparent displays, which allow for seamless integration with physical environments, are gaining traction in retail and advertising applications. Furthermore, the integration of display technologies with augmented reality (AR) and virtual reality (VR) solutions presents new opportunities for immersive experiences in commercial settings.

The market caters to a diverse range of end-user segments, each with distinct requirements. Major segments include retail, where displays are used for digital signage, interactive kiosks, and product showcases; hospitality, with applications in hotel lobbies, restaurants, and conference rooms; transportation, encompassing airports, train stations, and public information displays; education, with interactive displays and digital whiteboards; and corporate environments, utilizing displays for presentations, video conferencing, and digital signage.

Product Insights

The digital signage segment led the market with the largest revenue share of 52.7% in 2023. This high share is attributable to the high penetration of signage products in retail stores such as shopping malls and supermarkets. The growing preference for digital display solutions at commercial places is also driving the growth of the segment. The digital signage product segment is also expected to grow the highest CAGR over the forecast period. This segment is further categorized into video walls, video screens, transport LED screens, digital posters, kiosks, and others.

The display TVs segment is expected to witness at a steady CAGR of 6.5% from 2024 to 2030. Display monitors are extensively used in sectors such as banking and education. The demand for these products with sizes below 32 inches is high. However, the use of higher-sized, curved, widescreen monitors for specialized applications such as graphic designing and media & advertisement is also increasing. State-of-the-art technologies such as mini-LED and micro-LED are being incorporated in the latest commercial-grade TVs by manufacturers such as LG Display Co., Ltd. and SAMSUNG. Moreover, the players are introducing various types of TV panels, such as roll able and flexible panels. In the healthcare sector, these products are widely used in clinics, hospitals, and multi-specialty healthcare centers.

Application Insights

Based on application, the retail segment led the market with the largest revenue share of 16.8% in 2023. This high share is attributable to the high demand for displays for digital advertisements, marketing, and promoting products and services. Retail companies are adopting a modern approach to advertising, leading to high demand for commercial-grade TVs and digital signage. As a result, the retail segment is expected to dominate the market throughout the forecast period.

The transportation segment is expected to grow at the fastest CAGR over the forecast period, owing to the development of the transportation sector in developing countries such as China, India, and the Philippines. In the transportation sector, commercial displays are used at places such as airports, railway stations, metro stations, and bus stands for advertising. Advertisers are also extensively using digital displays on buses, cabs, trains, and trams. In addition, the hospitality segment is another prominent segment contributing to the market growth owing to the growing number of hotels, motels, restaurants, QSRs, cafes, and bars. Such establishments require a large number of display solutions for various applications such as advertisement, menu & food display, and entertainment.

Technology Insights

Based on technology, the LED segment led the market with the largest revenue share of 47.0% in 2023. This high share is attributable to the advancements in LED technology over the past years that have led to the development of various types of LED displays such as OLED and QLED. These technologies are energy-efficient and are being extensively used by manufacturers in their commercial displays. The other emerging LED technologies are mini-LED and micro-LED. Although mini-LED and micro-LED are relatively new and are yet to penetrate the global market, these technologies are expected to register at the fastest CAGR over the forecast period.

The LCD segment is expected to grow at a significant CAGR of 5.4% from 2024 to 2030. LCD displays have become more affordable over time due to mass production and advancements in manufacturing techniques. This cost-effectiveness makes them a preferred choice for businesses looking to deploy large numbers of displays. In addition, continuous improvements in LCD technology, such as higher resolutions, better color accuracy, and enhanced energy efficiency, make LCDs more appealing for various commercial applications.

Component Insights

Based on component, the hardware segment led the market with the largest revenue share of 55.1% in 2023. This high share is attributable to the higher demand for hardware as compared to software. Continuous advancements in display technologies, including improvements in LCD, LED, and OLED screens, have driven demand for newer and better hardware. Various hardware components include displays, extenders & cables, accessories, and installation equipment. The segment is also anticipated to continue to dominate the market from 2024 to 2030.

The software segment is anticipated to register at a considerable CAGR of over 6.9% from 2024 to 2030. The continuous development of software capabilities for content management, remote monitoring, and analytics is enhancing the functionality and efficiency of commercial displays. Advanced software solutions provide businesses with powerful tools to manage and optimize display content dynamically. In addition, software solutions offer greater flexibility in terms of customization and scalability. Businesses can tailor software to meet specific needs and scale their display networks efficiently as they grow, making software a vital component of their digital display strategy.

Display Type Insights

Based on display type, the flat panel segment led the market with the largest revenue share of 68.3% in 2023. This high share is attributable to the benefits such as its low costs and easy availability. Thus, users from various commercial end-use sectors have been using flat panels for decades. Since the emergence of TFT and LCDs, the business sector has witnessed increased use of flat panel displays. Flat panel displays such as digital posters, video walls, monitors, and TVs are widely used in numerous end-use industries. The segment is expected to continue dominating the market throughout the forecast period.

The curved panel segment is anticipated to register at a significant CAGR of 7.0% from 2024 to 2030. Curved panels offer an immersive viewing experience by providing a wider field of view and reducing distortion at the edges. This makes them particularly appealing for applications in commercial displays, including digital signage and video walls where viewer engagement is crucial. In addition, there is a growing consumer perception that curved displays offer a superior viewing experience. This positive perception is driving demand in commercial spaces where customer satisfaction and engagement are paramount.

Display Size Insights

Based on display size, the below 32-inches segment led the market with the largest revenue share of 36.6% in 2023. This high share is attributable to the widespread use of smaller displays in banking, corporate, education, and transportation. However, nowadays, customers prefer large displays owing to better clarity of display, features such as energy-efficient technologies such as OLED and micro-LED, and high quality of content. As a result, the 52 to 75 inches segment is expected to witness a significant increase in demand over the next seven years.

The above 75 inches segment is expected to register at the fastest CAGR during the forecast period, owing to the growing demand for large-format displays. Customers from sectors such as retail, transportation, and healthcare are adopting large displays for signage applications. Key players such as SAMSUNG and LG Display Co., Ltd. have introduced numerous commercial-grade TVs with display sizes above 75 inches in the last few years owing to their increasing adoption. The manufacturers are making investments in research and development to introduce large-sized displays with the latest technologies to meet the growing demand.

Regional Insights

North America dominated the commercial display market with the largest revenue share at 32.5% in 2023. North America, particularly the U.S., is a hub for technological innovation and research and development. Companies in the region are at the forefront of developing cutting-edge display technologies, such as 4K and 8K displays, OLED, and LED technologies. The strong emphasis on R&D drives the adoption of advanced commercial displays. In addition, North America has a strong and stable economy, which supports significant investments in commercial display technologies. Businesses in sectors such as retail, corporate, healthcare, and hospitality have the financial resources to invest in high-quality display solutions.

U.S. Commercial Display Market Trends

The commercial display market in U.S. held the largest market share of 65.7% in North America in 2023. The retail industry in the U.S. is a significant adopter of digital signage and commercial displays. Retailers use these technologies for in-store promotions, interactive displays, and digital menu boards to enhance the shopping experience and drive sales.

Asia Pacific Commercial Display Market Trends

The commercial display market inAsia Pacific is anticipated to grow at the fastest CAGR of 7.5in the target market over the forecast period. Asia Pacific is a diverse region with a wide range of industries and market segments, including retail, transportation, hospitality, healthcare, education, and entertainment. This diversity creates multiple opportunities for the deployment of commercial display solutions across various applications and verticals. In addition, Asia Pacific is home to some of the world's leading technology manufacturers and suppliers, particularly in countries like China, Japan, South Korea, and Taiwan. These countries have advanced manufacturing capabilities and are at the forefront of display technologies, including LCD, LED, OLED, and semiconductor manufacturing.

The China commercial display market is experiencing significant growth, driven by a large manufacturing base, technological innovation, and rapid economic growth. China is a global manufacturing hub for consumer electronics, including display panels, monitors, and digital signage. The country's advanced manufacturing capabilities and large-scale production facilities enable the mass production of display technologies at competitive prices. In addition, the government in China has implemented strategic initiatives to support the development of the display industry, including the "Made in China 2025" plan, which aims to upgrade the country's manufacturing capabilities and promote innovation in key industries, including displays.

Europe Commercial Display Market Trends

The commercial display market in Europe is experiencing significant growth and is projected to continue expanding in the coming years. Major European countries like the UK, Germany, France, and Italy are significant contributors to the target market. European cities are investing in smart city initiatives to improve urban infrastructure, optimize public services, and enhance quality of life. Smart city projects involve the deployment of digital signage, wayfinding systems, and interactive displays for public transportation, urban mobility, and public safety applications.

The UK commercial display market can be attributed to a combination of factors. The growth of e-commerce in the UK has led retailers to invest in Omni channel marketing strategies that integrate digital signage with online platforms. Digital displays bridge the gap between online and offline shopping experiences, driving foot traffic to brick-and-mortar stores and increasing online sales.

Key Commercial Display Company Insights

Some of the key companies operating in the global market include SAMSUNG, LG DISPLAY CO., LTD., among others.

• SAMSUNG is a multinational electronics company that provides Information Technology (IT), consumer electronics, and mobile communication products and solutions worldwide. The company operates through four segments, namely Device eXperience (DX), Device Solutions (DS), SDC, and Harman. SAMSUNG offers digital signage solutions for sports events. The company’s global network spans North America & Central/South America; Europe, the Middle East, and Africa; and Southeast & Southwest Asia. The company has manufacturing centers in the U.S., South Korea, and China; and R&D centers in the U.S., Canada, the U.K., Israel, India, Japan, China, Taiwan, and South Korea. The company is listed on the Korea Exchange (KRX) with the ticker symbol: KRX: 005930

• LG Electronics is a consumer electronics company providing televisions, home appliances, and monitors, among other products. The company also offers automotive components. It provides commercial displays such as digital, OLED, and LED signage. Its diverse range of digital signage solutions is designed to address the needs of various venues. The company operates 142 subsidiaries worldwide. It is listed on the Korea Stock Exchange with the ticker symbol 066570

BOE Technology Group Co., and BrightSign LLC are some of the emerging market companies in the target market.

• BOE Technology Group Co., Ltd. is a prominent Chinese company operating in display manufacturing. The company has established itself as a major player in display technology, manufacturing intelligent interface products across a diverse range of devices, including smartphones, laptops, televisions, and virtual reality headsets. The company's business strategy, dubbed "1+4+N+Eco-chain," encompasses a multi-faceted approach. At its core is the display business, supplemented by endeavors in IoT solutions, sensor development, Micro LED (MLED) technology, and smart medical engineering. This diversified strategy, combined with the company's substantial global presence and substantial investment in innovation, as evidenced by over 80,000 patents filed, solidified BOE's position as a significant manufacturer in the display industry

• BrightSign is a leading provider of digital signage media players, renowned for its powerful and reliable technology. The company offers a complete lineup of commercial-grade players designed for professional applications. BrightSign's proprietary BrightSignOS operating system delivers unrivaled performance, security, and ease of use. With a focus on innovation, BrightSign's players enable captivating experiences across various industries, from retail and entertainment to corporate settings. The company has established itself as a trusted name in the digital signage industry

Recent Developments

• In April 2024, Daktronics and the University of Colorado collaborated to install six LED displays spanning 8,800 square feet at Folsom Field in Boulder, Colorado, in the U.S. ahead of the 2024 season kickoff. Daktronics aimed to significantly enhance fan engagement during football games and other stadium events with the new video display boards

• In February 2024, SHARP Electronics of Canada Ltd., a Sharp Corporation subsidiary, announced the launch of MultiSync PNME Series displays, developed in collaboration with NEC Corporation. The PNME Series prioritizes maintaining commercial reliability while integrating modernized features to address the evolving demands of customers within the digital signage market. The PNME range provides improved flexibility and performance for digital signage applications, offering sizes ranging from 43 to 65 inches and featuring high haze and anti-reflective panels to minimize glare

• In February 2024, SAMSUNG presented cutting-edge innovations in commercial display technology at the Integrated Systems Europe (ISE) 2024 display exhibition in Barcelona, Spain. SAMSUNG featured the largest exhibition area of 1,728 meter square among participants, attracting over 7,000 visitors on the first day and a total of 23,000 attendees throughout the event. One of the launches was a new interactive display, WAD, showcasing notable upgrades, including 8GB RAM and 64GB of memory, ensuring improved performance

• In January 2024, Sony Professional Solutions Europe announced a partnership with Signagelive (Remote Media Group Limited), a digital signage software provider based in the U.K., to augment the versatility of its BRAVIA 4K Professional Displays powered by System on Chip (SoC) technology. The user-friendly content management platform of Signagelive (Remote Media Group Limited) is now seamlessly integrated with Sony Group Corporation's displays, delivering comprehensive digital signage solutions for businesses of all scales. The partnership is aimed at providing businesses with top-tier professional displays with enhanced display management capabilities

Commercial Display Market Report Scope

Global Commercial Display Market Report Segmentation

The report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global commercial display market report based on product, technology, component, display type, application, display size, and region.

• Product Outlook (Revenue, USD Million, 2017 - 2030)

  • Digital Signage

    • Video Walls

    • Video Screens

    • Transparent LED Screens

    • Digital Posters

    • Kiosks

    • Others

  • Display Monitor

  • Display TVs

• Technology Outlook (Revenue, USD Million, 2017 - 2030)

  • LCD

  • LED

    • Mini LED

    • Micro LED

    • Other LED

  • Others

• Component Outlook (Revenue, USD Million, 2017 - 2030)

  • Hardware

  • Software

  • Services

• Type Outlook (Revenue, USD Million, 2017 - 2030)

  • Flat Panel

  • Curved Panel

  • Other Panel

• Size Outlook (Revenue, USD Million, 2017 - 2030)

  • Below 32 inches

  • 32 to 52 inches

  • 52 to 75 inches

  • Above 75 inches

• Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Retail

  • Hospitality

  • Entertainment

  • Stadiums & Playgrounds

  • Corporate

  • Banking

  • Healthcare

  • Education

  • Transportation

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

  • Latin America

    • Brazil

  • Middle East & Africa

    • South Africa

    • KSA

    • UAE