Global Interactive Video Walls Market, Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Forecast to 2029
Global Interactive Video Wall Market Overview :
“The global Interactive video walls Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
A video wall is a multi-monitor setup that involves multiple projectors, monitors or TV sets that are contiguously tiled together or are overlapped to form one large screen. Interactive video walls, unlike traditional video walls, offer an engagingly interactive display. And, by engaging, we mean improved touchscreen capability, multiple screens, real-time content sharing, and high image resolution.
Some of the major end-users are commercial spaces such as – healthcare facilities, retail stores, restaurants & cafes, and museums apart from others. A factor that is slated to have a positive impact on the demand for interactive video walls is the diminishing costs of this product.
Another factor that is anticipated to steer positive growth in the forecast tenure of the global interactive video wall market is the use of these products in transportation spaces such as railway stations and airports, public spaces like malls, stores and city squares as well as in the hospitality and corporate sectors.
On the contrary to traditional displays that act as a one-way form of communication, interactive video walls allow a user to control the content being displayed by dragging, zooming and scrolling. This enhances the user’s viewing experience, and as such, will aid in the surge of the global interactive video wall market’s growth.
Initially designed for use in retail outlets and educational institutes, interactive video walls are now being used in everything from restaurants, museums, trade shows, and exhibitions as well as in the fields of science and medicine. Even in public safety command centers, the requirement for interactive video walls is gaining ground.
There are several police departments the world over that have implemented interactive video walls as a means of improving their criminal activity response rates. Information that police officers collect and process from crime reports, cameras and gunshot detection devices can be shared on it.
The demand for superior resolution video walls and ever-changing consumer lifestyles among end-users will positively impact this market. Another reason for the increase in the demand for interactive video walls is its implementation in global healthcare facilities as it helps physicians to share relevant information, which in turn improves the patient’s overall experience.
In terms of the display layout of interactive video walls, they can be divided into standard and custom layout video walls. The standard layout is sectioned into portrait and landscape interactive video walls. These can be found at trade shows & exhibitions, museums, the education and hospitality sectors, etc. Standard layout video walls accounted for the largest share of the market in 2018 and are expected to do so for the remainder of the forecast period.
With respect to custom interactive video walls, these are slated to witness a surge in market growth owing to its robust preview options, enhanced customer experience, and flexibility that allows users to easily switch layouts as and when need be.
The LED segment occupied approximately 50% of the global interactive video wall market share in 2018. A product that is reeling-in plenty of opportunities for steady growth is curved interactive video walls. They are now being used in several outdoor events like political assemblies, product launches, sporting events, music concerts, etc., and for indoor corporate events as well.
In relation to end-users, 2018 saw the retail segment accounting for 21% of the market’s share and it is expected to experience exponential growth opportunities due to the increase in the number of upcoming commercial spaces. Several technological advancements have positively influenced the adoption of interactive video walls in the retail industry.
Thanks to the characteristics that lend a video wall its interactive, immersive user-experience, the museum segment is expected to benefit from this and will contribute to the further growth of this market.
The largest market share for interactive video walls in 2018 was North America with 30% of that market. This can be accredited to the increased adoption of interactive technologies in recent years. Europe accounted for the second-largest market share in 2018, at approximately 20%. Thanks to increased investments dedicated to the digitization of classrooms, the Asia Pacific region is slated to experience lucrative opportunities and growth.
Global Market Segmentation:
Global market segmentation, by layout:
- Standard layout
- Custom layout
Global market segmentation, by distribution:
Global market segmentation, by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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