According to Omdia, industrial displays will be impacted by the overall environment in 2024, with shipment volume expected to increase by 0.4% YoY to 193 million units in 2024, and the shipment volume of the top five panel makers will reach 165 million units, accounting for 85% of the total shipment volume of industrial displays. From the perspective of revenue, panel makers have gradually moved towards vertical integration, so industrial displays are expected to increase by 12% YoY to $2.9 billion in 2024.
From the perspective of each industrial control sub-market, in the wake of the epidemic impacting the global, the large game console industry is one of the most affected industries, with European and American gaming venues closing one after another, leading to an increase in online game demand during the epidemic, but the demand has gradually shifted to large game consoles in physical stores after the epidemic, leading to a decrease in revenue for online game operators, so they want to transform and join the large game console industry with physical stores, but due to the restrictions on large game consoles, they are currently combined by large game console brands and online/offline game operators on a single machine, with 8-10 games, looking forward to the subsequent large game console market, large game console tables will increase due to online/offline game operators developing countries with loose regulations and the US assessing the relaxation of the game industry to increase state government revenue and then increase the procurement of game console tables.
From the perspective of panel specifications, the main purpose of large game consoles is to attract consumer attention, and the main panel sizes are currently 23.8/27/32/49/50/55-inch, 27-inch is mainly used in Europe and Asia; 32-inch is mainly used in the United States; in terms of product types, 49/50/55-inch are mainly J-shaped curved, 27-inch is due to being an older product, there are also 27-inch C-shaped curved to enrich the large game console market, considering that the car market is asking for more wood grain cover plates, large game consoles are also assessing the feasibility of extending the application of mini LED backlight and thinking about wood grain cover plates.
Prospects for the future trends of industrial control panels:
1. Panel makers begin to invest in vertical integration business model
Panel makers not only upgrade the display specifications in specific industrial applications, but also develop vertical markets. In the case of market recovery, it is expected that panel makers will focus on revenue growth rather than shipment volume in 2025.
2. ODM acquires brands and creates a win-win situation
ODM acquires brands to increase hardware demand, which will bring more competitive prices. Touch display module suppliers may face competition from panel makers and ODMs, and ODMs will take over the entire hardware business, so the supply chain will be reorganized.
3. Brands focus on software capabilities and brand focus on software development and AI development
Brands will reduce hardware demand and invest more in software capabilities and AI development. Brands move towards application service software design, with profits not limited by hardware specifications.