The global monochrome display market will reach USD 19 billion in 2031 with ~12% CAGR growth during 2022-2031; The market will grow thanks to the increasing demand for cost-effective and energy-consistent display technology

Kenneth Research

Kenneth Research

Key Companies Covered in Global Monochrome Display Market Research Report by Kenneth Research is KYOCERA Corporation, BOE Technology Group Co., Ltd., AZ Displays, Inc. (Zettler Group), Ampronix Inc., EIZO Corporation, Japan Display Inc. ., Richardson Electronics, Ltd., Blaze Display Technology Co., Ltd., Microtips Technology, Inc., Phoenix Display International, Inc. and other key market players.

New York, August 5, 2022 (GLOBE NEWSWIRE) — The electronics and robotics industry has been in the spotlight in recent years. It was observed over the last decade that the number of industrial robots sold globally tripled, reaching 423,000 units in 2018 flattening the electronics industry. Robot adoption is driving the electronics industry, where monochrome displays are widely used. The use of industrial robots is more common in countries with a strong electronics industry, such as Japan, China, South Korea, Germany, and the United States. Seven times more than the world average, South Korea has about 940 robots for every 10,000 manufacturing workers.

Kenneth Research has published a detailed market report on ‘Global Market for Monochrome Displays‘, which includes ongoing industry innovations and recent trends being adopted by major industry players to achieve their business objectives. Other than that, inclusive data on market size, growth rate, market revenue share, growth opportunities, and challenges for market players along with worldwide analysis on five major regions: North America North, Latin America, Europe, Asia Pacific, and the Middle East and Africa. has been provided in the report.

As of 2021, global spending on IT devices totaled approximately $790 billion worldwide. Monochrome displays find application in IT devices like LCD monitors which are therefore anticipated to drive market growth.. The global monochrome display market is anticipated to reach a value of nearly USD 19 Billion by 2031 by growing at a CAGR of approximately ~12% over the forecast period ie 2022 – 2031. The market growth can be attributed mainly due to the increasing demand for cost-effective and energy-consistent display technology.

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In addition, the widespread utility of monochrome screens in electronic devices such as computers, smart watches, smart contact lenses and digital cameras, among others, is expected to complement the upbeat growth as companies invest in improving their offerings. In July 2022, Mojo Vision announced its latest advances in AR-based contact lenses that have green monochrome properties on their display. In addition, the growing IT spending worldwide and the increasing number of personal computers being shipped around the world are expected to further drive the growth of the market. For example, approximately 344 million PCs were shipped worldwide in 2021.

In addition, the increasing rate of Internet penetration and the rapid growth of the information technology industry in various developed and developing countries are anticipated to be major factors driving the growth of the global monochrome display market. Monochrome displays are widely used in the IT industry. Monochrome displays are inexpensive and are rendered to meet certain stipulations. As of 2019, there were almost 23 billion devices connected to the Internet worldwide. In addition, the increasing digitization of businesses, supported by an increased reliance on technology, is estimated to drive market growth. By 2025, total spending on digital transformation globally is expected to reach around $2 trillion.

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On a regional basis, the global monochrome display market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The North American region market is expected to hold the largest market share during the projection period. This growth can be credited to the ever-increasing rise of modern technologies in various industries throughout the region and the existence of various key players. The increase in disposable income per capita across the region further drives the growth of the market in the region. According to World Bank data, disposable income per capita was USD 51,407 in the North American region in 2020. In addition, the high adoption of technologically advanced products in the region and the increasing R&D activities to develop products that improve user convenience by companies in the regional market are also driving the growth of the market in the region.

On the other hand, followed by the North American region, Europe is also expected to gain a significant share during the forecast period in the monochrome display market due to the proliferation of industries, such as medical, consumer electronics, gaming and automotive in the region. In addition, the increasing Internet penetration among people in the region is influencing the growth of the market in the region. According to World Bank data, as of 2020, 85% of the individual population in the Europe region uses the Internet. Therefore, these factors are predicted to drive the demand for monochrome displays in the projected years and are estimated to be significant factors in driving the growth of the market in the Europe region.

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The study also incorporates year-on-year growth, demand and supply, and forecasts future opportunities in North America (USA, Canada), Europe (UK, Germany, France, Italy, Spain, Hungary, Belgium, the Netherlands and Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark]Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand , Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman]North Africa, South Africa, Rest of the Middle East and Africa).

The global monochrome display market is segmented on the basis of display type into CRT display, LED display, and LCD display. Of these, the LED segment supported by its high application demand in gadgets such as digital watches, computers, digital cameras, advanced smartphones and others. These displays are small in size and low in power consumption. Furthermore, they are used in car dashboards, which is also a factor driving the growth of the segment. The rapid increase in the sale of smartphones around the world is an important factor in driving the growth of this segment. For example, in 2021, approximately 1.435 billion smartphones were sold worldwide.

Furthermore, the global monochrome display market is segmented based on industry into consumer electronics, automotive, gaming, medical, manufacturing, and others. Of these, the automotive segment is anticipated to hold a substantial market share during the forecast period thanks to rapid growth in the automotive industry and rising vehicle sales. The International Energy Agency (IEA) reports that 43 million cars were sold worldwide in 2020, with that number expected to rise over the projected period. Therefore, it is anticipated that this will be an important factor in driving the growth of this segment during the forecast period.

The global monochrome display market is also segmented on the basis of display type.

Global Monochrome Display Market, Segmented by Display Type

  • Green screen

  • White screen

  • amber screen

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Some of the prominent players and their company profiles mentioned in the report include KYOCERA Corporation, BOE Technology Group Co., Ltd., AZ Displays, Inc. (Zettler Group), Ampronix Inc., EIZO Corporation, Japan Display Inc., Richardson Electronics, Ltd., Blaze Display Technology Co., Ltd., Microtips Technology, Inc., Phoenix Display International, Inc. and others. The profile encompasses growth opportunities, challenges, market trends, competitive analysis and positioning, along with the strategies used by them to stay ahead of their competitors.

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