Advances in technology and innovation are brimming over the scope of imagination. Rapid technological developments are significantly transforming the patterns of operability in across companies. Leading companies are concentrating on leveraging technological advancements to improve their marketing strategies. To boost their brand identity, major firms are focusing on investing in video walls. With the installation of the video wall, leading companies across industries are focusing on promoting their brand and relevant marketing information to the public, clients, and visitors. Besides branding, major companies are also installing video walls to improve communications and performance of the business.
In its newly compiled report, Future Market Insights (FMI) states that the global video wall market is expected to register a CAGR of 14% throughout the forecast period, 2017-2027. Evolving technological developments, increasing number business meetings and presentations, business conferences, brand promotion, and advertisement are a few factors that are fueling adoption of video walls in various industries. Recent trends identified in the global market include installing the video walls for improved digital signage experience across industries, interactive gaming zones, marketing products and services, virtual auto showroom, interactive kiosks, educational institutions, and other outdoor display solutions. In addition, increasing installation of video walls in a number of healthcare institutions is spurring demand in the healthcare industry. Diverse applications of video walls across industries are likely to create significant growth opportunities for the leading players in the global market.
To sustain their lead in the competitive market, leading market players in the global market are focusing on product innovation and differentiation. For instance, leading electronics companies such as LG has recently launched an ultra-narrow bezel video wall to offer technologically-immersive and improved customer experience. Ultra-narrow video wall developed by the LG Electronics USA Business Solutions can be accommodated in various environmental conditions. In order to offer multiple viewing angles and accurate and uniform color saturation, the company has implemented leading technology such as In-Plane switching technology. Through product innovation and differentiation, major firms are focusing on attaining a competitive edge in the global market.
Product Innovation to Create Lucrative Growth Opportunities for Leading Companies
Adoption of video walls continues to remain high in the food & beverage industry, automotive industry, healthcare industry, education industry, information media and telecommunication industry, electronics industry, and commercial industry among others. Of particular significance is the spurt in demand for video wall in the commercial and entertainment industry. To improve their position in the competitive market, leading manufacturing companies are increasingly participating in international exhibitions. For instance, a Retail Digital Signage Expo is expected to be held in Britain in May this year. This event offers the leading suppliers and distributors in the retail industry to showcase a range of kiosks, video walls, screens, LED signage, and media players. The event enables the manufacturers to improve their brand awareness among individuals and establish a brand recognition in the global market.
Among various regions, North America will continue to maintain its stronghold in the global market. Major manufacturers based in this region are focusing on developing innovative products and improving the viewer experience through novel display technology. In order to expand their customer base, leading companies based in various countries of North America are focusing on developing video walls with enhanced performance and tolerance levels such as transparent displays, LPDs, NPP, and LEDs. The North America market is expected to witness the fastest growth as compared to the other regions in the global market during the forecast period. Major firms are likely to witness significant growth opportunities in Western Europe attributed to increasing demand in the high-end meeting rooms, brand showrooms, corporate receptions, control rooms, and experience theatre.
The information presented here is sourced from Future Market Insights latest report. A sample of this report is available upon request.
Author: Abhishek Budholiya is a tech blogger, digital marketing pro, and has contributed to numerous tech magazines. Currently, as a technology and digital branding consultant, he offers his analysis on the tech market research landscape. His forte is analysing the commercial viability of a new breakthrough, a trait you can see in his writing. When he is not ruminating about the tech world, he can be found playing table tennis or hanging out with his friends.