Floor Displays Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Floor Displays Market grew at a CAGR of 5.0% between 2017-2021 and is estimated to be US$ 3,040.8 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.9 % and is expected to reach a valuation of US$ 5,394.5 Mn by 2032 end.
Floor displays are popular for their flexibility and durability. Floor displays provide an excellent opportunity for manufacturers to explore the benefits of merchandising innovations that can be used across various product categories.
GROWING DEMAND FOR ELECTRONICS DRIVES THE MARKET FOR FLOOR DISPLAYS
The display component business has spawned far bigger, more leveraged companies that make and sell display-centric electronic goods. The adoption of displays will be fuelled by rising demand for consumer devices such as smartphones, televisions, and laptops, as well as increased internet penetration. Other elements driving greater market demand include the government’s drive for electronics production and the country’s expanding digitalization.
DROP IN DEMAND FOR DISPLAYS IN THE RETAIL SECTOR RESTRICT THE MARKET GROWTH
With digital advertising, merchants can reach their audience on a global scale and increase their revenue stream. With the advancement in technology, online shopping has become more convenient and convenient for shoppers. Furthermore, the internet has developed into an all-purpose platform for consumers to gather information about products and read about reviews and product comparisons before buying them. Thus, digital advertising has been proven to be one of the most effective ways for merchants to engage with consumers. As a result, more businesses are shifting their focus toward digital advertising to market their products and services online.
THE RISE IN AUTOMATED EQUIPMENT PROJECTS WILL CREATE MORE OPPORTUNITIES FOR THE MARKET
Organic light-emitting diodes and liquid crystal displays (OLEDs) are the most promising displays due to their long life, extensive brightness range, huge color gamut, and high refresh rates. The reason behind this is that OLEDs use no backlight. Moreover, these displays can be made thin, flexible, and transparent. While manufacturers have already started producing ready-made OLED panels for mobile phones and other products, one way or another, these displays will also have to make their presence felt in front of Digital Wall Screens.
The coronavirus has hurt the expansion of utility applications. The installation of Floor Displays systems was declining in 2021, with rising costs associated with the lack of technical support and fixed-time delivery deadlines.
Additionally, the worldwide closure of production facilities in 2020’s first and second quarters is to blame for slowing the market’s expansion. However, it is anticipated that the adoption of technology, therefore, the Floor Displays systems will expand due to the growing installation of Floor Displays systems in operational projects.
Market Segments Covered in Report
By Material Type :
By Application :
By Packaging Format :
By Region and Country:
Why are convenience stores projected to ensure the most revenue during the forecast period?
The convenience store segment will likely contribute to more than 33.0% of global market revenue by exploiting the high margin and switching demand in the POP display. Currently, manufacturers are adopting FIFO (First In, First Out) technology for POP display manufacture. But this method does not allow manufacturers to produce high-quality products due to the expensive consumables required for the FITO process. Hence, we expect that manufacturers can opt for other production methods, such as direct laser cutting and vacuum forming, which will help reduce many of their investment costs. On the other hand, retailers can also quickly adopt these new methods to improve supply chain management processes and minimize costs.
Which Material type is expected to expand the fastest during the forecast period?
In 2021, Corrugated board will be the most commonly used raw material in producing POP displays due to its low cost. Plastic, metal, and other materials are also used for promotional purposes. Prices of natural materials such as corrugated boards and plastics are constantly on the rise. For instance, due to COVID-19, Kraft paper prices rose by ~23.0%, owing to short supply led by intermittent closure of production units. This hampered the growth of the floor POP display market.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
Major businesses are diversifying their product offerings through organic and inorganic development strategies to strengthen their market position.
Some of the key developments that have taken place in the Floor Displays Market include:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Material Type, Application, Packaging Format, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Frequently Asked Questions
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 5.9%.
There are numerous prospects for international floor POP display producers to access potentially lucrative areas due to in-store retail shopping across potential economies.
Major global Floor Displays Market players are Sonoco Products Company, DS Smith Plc, Smurfit Kappa Group PLC, Georgia-Pacific LLC, WestRock Company, FFR Merchandising Company, U.S. Corrugated Inc., Marketing Alliance Group, Creative Displays Now, Pratt Industries Inc.
The growth of e-commerce platforms has been one of the major factors that have led to the decline in the in-store POP display. The increasing popularity of online shopping has limited the revenue potential of these stores.
The North American region is expected to account for the largest market revenue share in the Global Floor Displays market.
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