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Seven Segment Display Market By Display Type (LCD, Plasma, Touch, and LED), Configuration Type (Common Anode Display and Common Cathode Display), and Application (Digital Clocks, Clock Radios, Calculators, Wristwatches, Speedometers, Motor-Vehicle Odometers, and Radio Frequency Indicators): Global Opportunity Analysis and Industry Forecast, 2020–2027

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Aug 2021 | 968 Views
   
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COVID-19

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Seven Segment Display Market Outlook – 2027 

Seven segment display is an output display system that offers a substitute to complicated dot matrix displays to display information in the form of image or text, or decimal numbers. It is extensively used in digital clocks, basic calculators, electronic meters, and other electronic devices displaying numerical information. 

It consists of seven segments of light emitting diodes (LEDs) that are integrated as number 8. Seven-segment displays use a liquid crystal display (LCD), a light emitting diode (LED) for each segment, an electrochromic display, or other light-generating or controlling techniques such as cold cathode gas discharge (Panaplex), fluorescent vacuum (VFD), and incandescent filaments (Numitron).

The global seven segment display market is segmented on the basis of display type, configuration type, application, and region. Based on display type, the seven segment display market is divided into LCD, plasma, touch, and LED. In terms of configuration type, the market is bifurcated into common anode display and common cathode display. On the basis of application, the market is divided into digital clocks, clock radios, calculators, wristwatches, speedometers, motor-vehicle odometers, and radio frequency indicators. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global seven segment display industry include Kingbright, Broadcom Inc., Forge Europa, Lumex Inc., VCC (Visual Communications Company), MULTICOMP, Seegate Corporation, and Oasistek. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global market. 

Top Impacting Factors

Penetration of LED displays leads to increased demand for efficient lighting for the seven segment display market globally. High demand for seven segment displays has been witnessed over the past decade, as electronic devices require efficient lighting. The easy availability of these displays is another driver for the market growth due to many local players in each region.

Increase in Per Capita Income Growth and Disposable Income

Market is expected to thrive at a significant CAGR due to increase in per capita income growth and increased disposable income. Increasing technological advances along with the invention of innovative low-cost products and rising IT services industry expenditures are envisaged to boost demand over the forecast period for the global seven segment display market. Further, governments have increased their focus on the ICT sector in high-income countries.

Growth in ICT Industry Contribute to Market

The ICT industry is an enabler of economic growth and a significant contributor to the global market future development. There have been huge improvements in the field of ICT over the past few years that have changed daily lives, changed business operations, and enabled new and innovative business models. Furthermore, ongoing developments in ICT are focused on technologies that change current state of the industry and applications, which is expected substantially increase in the future. 

Increase in internet, broadband & mobile penetration, and growth in consumer demand for content and goods, combined with business need for agility are expected to accelerate growth of the North America seven segment display market. In the U.S., growing wealth and increasing trends in emerging technology are expected to improve the adoption of ICT-sector products and services. 

High Demand For Seven Segment LED Displays in Automotive Industry

Many automotive companies offering seven segment LED displays to show the speed and other readings in vehicles. These LED displays are frequently used in motorcycles, cars, and trucks and other vehicles and usually used for commercial purposes. 

In addition, growing implementation of energy-efficient lighting systems in households as well as outdoor & traffic lighting are expected to drive the growth of the market during the forecast period. Moreover, lower power consumption, long-life, and vibration & shock resistance are some of the factors which make single-digit seven segment LED displays ideal for various sectors such as medical, industrial and consumer products.

Key Benefits of the Report

  • This study presents the analytical depiction of the global seven segment display market forecast along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global seven segment display market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global seven segment display market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed global seven segment display market analysis based on competitive intensity and how the competition will take shape in coming years. 

Market Scope and Structure Analysis

Report Metric

Details

Market Size Available For Years

2020-2027

Base Year Considered

2019

Forecast Period

2020-2027

Forecast Units

Value (USD)

Segments Covered

Display Type, Configuration Type, Application, and Region

Regions Covered

North America (Canada, Mexico, U.S.), Europe (France, Germany, UK, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Rest of Asia-Pacific), LAMEA (Africa, Latin America, Middle East)

Companies Covered

Kingbright, Broadcom Inc., Forge Europa, Lumex Inc., VCC (Visual Communications Company), MULTICOMP, Seegate Corporation, and Oasistek

 

COVID-19 Scenario Analysis

  • Global market for Seven-segment display has been significantly impacted by the COVID-19 outbreak. New projects throughout the world have stalled, which, in turn, have led to a significant decline in demand for these systems.
  • Global factories have struggled to integrate new seven segment displays as workers have stayed in their homes, which has disrupted the global supply chains.
  • The impact of COVID-19 on this market is temporary as just the production and supply chain is stalled. Once the situation improves, production, supply chains, and demand for these embedded systems are gradually going to increase.

Seven Segment Display Market Key Segments

Segments

Sub-Segments

Display Type

  • LCD
  • Plasma
  • Touch
  • LED

Configuration Type

  • Common Anode Display
  • Common Cathode Display

Application

  • Digital Clocks
  • Clock Radios
  • Calculators
  • Wristwatches
  • Speedometers
  • Motor-Vehicle Odometers
  • Radio Frequency Indicators

 

Questions Answered in the Seven Segment Display Market Research Report

  • Who are the leading market players active in the global market?
  • What would be the detailed impact of COVID-19 on the seven segment display market size?
  • How current seven segment display market trends would influence the industry in the next few years?
  • What are the driving factors, restraints, and opportunities in the global market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

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