According to data from RUNTO, the global commercial display device market has achieved a CAGR of 18% over the past decade, and its overall scale is expected to exceed USD 50 billion by 2025.
Amid market expansion, the commercial display industry is gradually shifting from traditional development characteristics such as product integration, bid projects, and industry-specific applications to a new growth paradigm centered on intelligence, online channels, and BC-end scenario integration.
Foundational technologies including 5G, IoT, big data, artificial intelligence (AI), and cloud computing are empowering various industries, and the commercial display sector is no exception. Commercial display products are no longer simple combinations of individual items by integrators as in the early years. More intelligent technologies are being applied to products, making devices smarter and more user-friendly.
Interactive Flat Panels (IFPs) are the most typical and core category in the commercial display product portfolio, and also one of the products with the widest application of various innovative technologies. Currently, AI facial recognition and AI sound source localization technologies have been adopted by major mainstream panel manufacturers for face check-in and speaker tracking in meeting scenarios, significantly improving enterprise efficiency and smart experience.
Looking at the development of the commercial display industry in recent years, its advantage lies in the rich expandable scenarios, while the pain point is the low efficiency of implementation rules. Taking IFPs as an example again, during the three years of the pandemic, work and learning concepts such as hybrid work, remote work, and online education have rapidly penetrated all groups in all regions of the world, but the hardware sales of IFPs have not experienced explosive growth.
In fact, since the launch of the commercial IFP category for meeting scenarios in 2017, traditional commercial display enterprises, home appliance companies, ICT firms, as well as office equipment manufacturers such as Deli and Ricoh, have all entered this industry. Despite the increasing number of entrants, the market size has not expanded significantly, and the era of universal office adoption has not arrived.
Competition among enterprises has become increasingly price-centric. Coupled with relatively limited reliance on sales channels, marketing methods still mainly follow the model of "people seeking channels, and channels seeking customers." RUNTO data shows that despite the huge global enterprise volume and incremental growth, the commercial IFP market has only reached a scale of 4.5 million units and a penetration rate of less than 8% over five years.
A positive trend is that commercial display enterprises are increasingly adopting consumer product marketing methods. They are increasing advertising investment in public traffic platforms such as elevator media, strengthening e-commerce brand marketing, product launches, and full-line product listings. Through multi-channel and multi-method user reach, they ultimately aim to maximize efficiency in spreading product concepts, influencing user mindsets, and completing transactions.
According to RUNTO data, in the first half of 2022, online transactions of IFPs accounted for 19.4% of global IFP market sales, a year-on-year increase of 1.3 percentage points.
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