Posted On: 2019-07-09
Construction of multiple economic cities, hotels, entertainment parks, medical cities, transportation network and malls on account of implementation of several government initiatives such as Dubai Vision 2020 and Saudi Arabia National Vision 2030 are expected to strengthen the commercial display market in the GCC region.
According to 6Wresearch, GCC commercial display market is projected to grow at a CAGR of 2.8% during 2019-25. The GCC region would be hosting two major events - Qatar FIFA World Cup in 2022 and Dubai Expo in 2020, which led to the speeding up of construction activities in these countries, thus creating huge opportunities for marketers to showcase their products and services to the international audience. This would lead to a substantial rise in the demand for commercial display solutions in the region. Additionally, setting up of several new trade centers, stadiums, convention centers, offices and recreational facilities for these events would further raise the demand for commercial displays during the forecast period. However, the commercial display market in these countries is expected to register subdued growth once the aforementioned events are over.
According to Akshay Thakur, Research Analyst, Research and Consulting, 6Wresearch, "In 2018, the retail segment accounted for majority of the revenue share in the overall market with malls and shopping complexes being the biggest spenders on signage solutions. Additionally, video walls and large display signage stood out as the preferred choice for these retail outlets due to their capability of broadcasting messages to huge audiences in large areas. Curved video walls and dual sided signage solutions are commonly used options in the retail segment."
"LED signage solutions led the market, in terms of revenues as well as volume share, due to their ability to provide high-quality output at comparatively lower costs. The LED display segment due to continuous innovation and technological advancements, captured a significant share in the market due to their easy availability in wide range of screen sizes, high screen brightness in outdoor conditions, along with compatibility with modern content players,"Akshay added.
According to Vanshika Bhageria, Research Associate, Research and Consulting, 6Wresearch, "The hospitality segment is expected to flourish in the commercial display market across the GCC region on account of construction of new hotels, resorts, museums and other tourism related infrastructure over the coming years. Rising investment by the government of several GCC countries, such as Saudi Arabia and UAE, in education sector and the growing need for an enriched user experience, along with subsidized prices for display panels would facilitate the growth of commercial display market during the forecast period."
Some of the major companies in the GCC commercial display market include LG, Panasonic, Samsung, BenQ, Sharp and NEC.
"GCC Commercial Display Market (2019-2025)" report provides an in-depth analysis with 198 figures and 53 tables covered in more than 300 pages. The report estimates and forecast the overall GCC commercial display market revenues by display types, technology, applications, verticals and countries. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.