Smart retail drives touchscreen display market

  • October 15, 2024
  • Steve Rogerson

The global retail touchscreen display market is witnessing remarkable growth, anticipated to increase from $13.8bn in 2023 to $23.9bn by 2028, according to Research & Markets.

This expansion, representing a CAGR of 11.7%, is driven by an increasing penchant for interactive and engaging shopping experiences, a surge in self-service kiosks, and technological advancements in smart retail.

Innovations remain at the forefront, shaping the future of the retail touchscreen display market. Products integrating artificial intelligence (AI) enhance user interaction and redefine customer engagement in retail environments. Notable examples include AI-enabled interactive flat panels that facilitate touch, gesture or voice commands, enabling a multifaceted and seamless shopping experience.

Furthermore, technological mergers and acquisitions continue to consolidate the market, exemplified by Advantech’s recent acquisition of Aures Technologies (www.iotm2mcouncil.org/iot-library/news/smart-retail-news/advantech-acquires-smart-retail-firm-aures) to augment its footprint in the smart retail domain. This move not only reinforces Advantech’s position but also integrates the latest touchscreen displays with its diversified product portfolio.

Regional market analysis reveals North America as the dominant force in the retail touchscreen display market, with Asia-Pacific the fastest-growing region. Key global players, including Samsung, LG and 3M, are increasingly focusing on leveraging opportunities across diverse regions.

The market’s rise can be partially attributed to the evolution and enhancement of the retail chain sector, which uses touchscreen technology to captivate customers, streamline operations and enrich the overall retail experience. An array of applications using various touchscreen technologies, such as resistive, capacitive and infra-red, are instrumental in catering to a wide range of retail needs, from interactive point-of-purchase displays to point-of-sale (PoS) systems.

The competitive landscape of the retail touchscreen display market is characterised by the pursuit of innovation, customer engagement and service integration. Retail chains’ expansion remains a catalyst, as they seek to leverage technology to capture consumer interest and enhance operational efficiency.

This market’s dynamics are shaped by an array of factors, including advancements in display technologies that underscore the proliferation of LCD, LED and OLED screens. The integration of these technologies into the retail space signifies a shift in how retailers and consumers interact, with touchscreen displays playing a pivotal role in this transformative era of retail.

The market overview reflects an ecosystem poised for sustained growth and transformation, with technological advancements and consumer preferences driving market dynamics. The retail touchscreen display market is positioned to meet the evolving demands of the retail sector, and key players continue to pioneer developments that promise to elevate retail experiences worldwide.

For more information about this report visit www.researchandmarkets.com/r/rrnf6v.