Wilmington, Delaware, United States, April 05, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global large-format display industry was worth US$ 11.8 billion in 2022. The same market is predicted to reach US$ 19.7 billion by 2031, rising at a steadily increasing CAGR of 6.6% from 2021 to 2031.
The main reason fueling market expansion is the expanding invention of LCD and LED displays. LFDs have some advantages, including high resolution, higher quality, as well as an improved viewing experience for the user, which are eventually fueling market expansion.
Additionally, the availability of highly bright HD LFDs with improved sustainability, stability, flexibility, and environment resistance, the emergence of the flexible display market, the increasing demand for more vibrant and power-efficient LFDs in a variety of applications, improved uses for digital signage, and advancements in the technology of OLED displays are all anticipated to have a positive impact on the market.
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Large format displays that can provide a better user experience now incorporate touchscreen technology thanks to developments in display technology. These touchscreen screens are widely used in business gatherings, control areas, retail locations, and educational institutions. To meet the growing customer demand, major market players are now providing touchscreen screens.
Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | USD 11.8 Bn | |
| Estimated Value | USD 19.7 Bn | |
| Growth Rate - CAGR | 6.6% | |
| Forecast Period | 2023–2031 | |
| No. of Pages | 210 Pages | |
| Market Segmentation | Type, Display Technology, Size, Brightness, Deployment, Price, End-user, Distribution Channel | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies covered | AUO Corporation, Barco NV, Deepsky Corporation Ltd, E Ink Holdings Inc, Leyard Optoelectronic Co. Ltd, LG Display Co., NEC Corporation, Samsung Electronics Co., Sharp Corporation, Sony Corporation | |
Key Findings of the Market Report
- The global large-format display market is expected to garner a steadily rising 6.6% CAGR from 2021 to 2031.
- By end-user, the commercial segment is expected to occupy the highest market share from 2023 to 2033.
- By type, the video wall section led the market in 2022 and is predicted to expand at a CAGR of 5.5%
- In 2022, Asia Pacific was the most lucrative market in terms of large format display market revenues.
Global Large Format Display Market Trends
- The market is anticipated to expand more quickly thanks to fine-pixel LED screens, which are used to build seamless video walls. Every video wall has exceptional visual performance and potent tuning abilities, which eventually boosts market expansion.
- The launch of several new video wall displays that offer an incredible viewing experience for a wide variety of sectors and uses was revealed by NEC Display Solutions Europe in January 2019.
- The commercial sector is anticipated to experience significant growth throughout the projection period, mainly as a result of higher brand activity and offer ads by various organizations using larger displays of various sizes in malls and retail establishments.
- Commercial displays are also provided by many suppliers with extra features and services, such as additional input ports, portrait mode operation, environmental resilience, expanded guarantee, ability to run all day, and greater brightness, in comparison to consumer displays.
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Global Large Format Display Market: Regional Market Outlook
- The Asia Pacific region with the highest market share is anticipated to expand quickly over the projection period. The industry was controlled by emerging nations like China, Japan, India, and Samsung. This is due to the region's dense concentration of display production businesses.
- For instance, Samsung Display Company unveiled the industry's most cutting-edge display screen. The new Samsung Display panel is closing a significant market disparity with its most recent technological breakthrough of UHD 65-inch video wall screens.
- The panels provide an unmatched combination of form and function, providing video wall users with excellent value. They offer a virtually unobstructed viewing area along with best-in-class picture quality.
Global Large Format Display Market: Key Players
Some of the key players in the global large format display market are:
- AUO Corporation
- Barco NV
- Deepsky Corporation Ltd
- E Ink Holdings Inc.
- Leyard Optoelectronic Co. Ltd.
- LG Display Co.
- NEC Corporation
- Samsung Electronics Co.
- Sharp Corporation
- Sony Corp.
Some developments by the key players are:
- In July 2022, Samsung and the Asian entertainment firm CJ ENM jointly developed a new virtual production stage. It is one of the biggest in the world and features tiny LED technology, online cameras and a wall system that are always linked. The CJ ENM studio utilizes Samsung's micro LED technology through "The Wall," a custom oval screen measuring more than 1,000" with a 20-meter circumference and seven-meter height that enables a 30,720p resolution (32K) x 4,320p (4K).
- Samsung Electronics collaborated with The Forestias by MQDC in March 2022, Thailand's largest real estate development project that combines a forest with homes and businesses. The Forest Pavilion in Bangkok, which is at the center of the project, received Samsung's cutting-edge projection technology, The Wall, to exhibit the most realistic cinematic experience.
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Global Large Format Display Market Segmentation
By Type
- Standalone
- Video Wall
By Display Technology
- LCD
- LED
- Edge-lit LED Display
- Direct-lit LED Display
- Others (Full-Array LED Display, Mini-LED Display, Micro-LED Display, etc.)
- OLED
- QLED
By Size
- Small (Below 60 inches)
- Medium (60 inches-90 inches)
- Large (Above 90 inches)
By Brightness
- Low (Below 1000 Nits)
- Medium (1000 Nits-3000 Nits)
- High (Above 3000 Nits)
By Deployment
- Indoor
- Outdoor
By Price
- Low (Below US$ 2000)
- Medium (US$ 2000-US$ 5000)
- High (Above US$ 5000)
By End User
- Commercial
- Corporate
- Restaurants
- Educational
- Others (Retail Institutes, etc.)
- Industrial
- Others (Socio-cultural Spaces, Public Spaces, etc.)
By Distribution Channel
- Online
- Company-owned Websites
- E-commerce Websites
- Offline
- Mega Retailing Stores
- Specialty Stores
- Others (Departmental Stores, Individual Stores, etc.)
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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