As per the current market research conducted by the CMI Team, the global Sunlight Readable Displays Market size is expected to record a CAGR of 9.5% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 12.5 billion. By 2032, the valuation is anticipated to reach USD 26.5 billion.
Sunlight Readable Displays Market: Growth Factors and Dynamics
- Outdoor Signage Expansion: The proliferation of outdoor digital signage for advertising, navigation, and information display drives demand for sunlight-readable displays, ensuring content visibility in varying lighting conditions.
- Automotive Advancements: The automotive industry increasingly integrates sunlight-readable displays into infotainment systems, HUDs, and ADAS applications, enhancing driver experience and safety.
- Rugged Device Demand: Industries like construction, agriculture, and military rely on rugged devices equipped with sunlight-readable displays, spurring growth in this sector.
- IoT Integration: Sunlight-readable displays find applications in outdoor IoT devices for weather monitoring, smart agriculture, and surveillance, contributing to market expansion.
- Energy-Efficient Solutions: Energy-efficient display technologies, reducing power consumption and suitable for solar-powered applications, gain prominence in environmentally conscious markets.
- Global Infrastructure Growth: Emerging markets invest in infrastructure development, including transportation and smart cities, driving demand for outdoor displays with excellent visibility.
- Technological Innovation: Ongoing advancements in high-brightness displays, anti-reflective coatings, and display materials enhance performance, attracting customers across industries.
- Regulatory Compliance: Meeting industry-specific visibility and safety regulations, such as in aviation and marine navigation, influences adoption in regulated sectors.
- Sustainability Focus: Sunlight-readable displays with longer lifespans and reduced environmental impact appeal to eco-conscious consumers and industries.
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Sunlight Readable Displays Market: Partnership and Acquisitions
- TransDigm Group – Esterline Technologies: In 2018, TransDigm Group acquired Esterline Technologies, which specializes in ruggedized displays, including sunlight-readable displays used in aerospace and defense applications.
- Kyocera Corporation – Optrex Corporation: In 2012, Kyocera acquired Optrex Corporation, a provider of industrial TFT-LCD displays, to strengthen its position in the display market, including sunlight-readable displays.
Sunlight Readable Displays Market: COVID-19 Analysis
The COVID-19 pandemic had a notable impact on the Sunlight Readable Displays market, leading to several trends and challenges:
- Supply Chain Disruptions: Lockdowns and restrictions disrupted the supply chain, causing delays in the production and delivery of display components. This affected the availability of sunlight-readable displays, leading to potential shortages.
- Shift in Demand: While some segments of the market, such as outdoor digital signage, experienced decreased demand due to reduced foot traffic and advertising budgets, other sectors like healthcare and remote monitoring saw increased demand for displays used in pandemic-related applications.
- Remote Work and Education: The surge in remote work and online education led to higher demand for laptops, tablets, and displays with improved outdoor visibility as people worked and studied outdoors or in non-traditional settings.
- Health and Safety Considerations: Displays with touchless or antibacterial features gained prominence as businesses and public places sought to reduce the risk of viral transmission via touchscreens.
- Economic Uncertainty: The economic downturn led to budget constraints in various industries, impacting capital expenditure on new display installations and upgrades.
- Accelerated Digital Transformation: The pandemic accelerated digital transformation efforts, leading to investments in outdoor kiosks, contactless payment systems, and other applications using sunlight-readable displays.
List of the prominent players in the Sunlight Readable Displays Market:
- LG Display Co. Ltd.
- Samsung Display Co. Ltd.
- Panasonic Corporation
- BOE Technology Group Co. Ltd.
- Sharp Corporation
- Tianma Microelectronics Co. Ltd.
- Japan Display Inc.
- Kyocera Corporation
- AU Optronics Corp. (AUO)
- Innolux Corporation
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