Industry researcher MarketsandMarkets says the global large format display market will grow at an annual rate of 7.2% from $US13.1 billion in 2021 to reach $US18.6 billion by 2026. Countries including Australia are expected to witness “rapid growth."
The new research says key drivers fuelling the growth include:
high adoption of signage and interactive displays by end users from the commercial sector;
technological innovations and advancements related to large format displays;
surged demand for 4K and 8K high-resolution commercial-grade large-screen displays from the education, healthcare, and sports & entertainment verticals;
and increased investments by emerging economies in real estate and public infrastructure development projects.
The report projects that the Asia Pacific region will hold the largest share of the large format display market in five years.
“Asia Pacific is projected to register the largest market share of the large format display market in 2026. APAC is witnessing dynamic changes in the adoption of new technologies and advancements in the retail and infrastructure sectors. China, South Korea, and Japan are the early adopters of large format display products in APAC. However, countries such as India, Australia, Singapore, Thailand, and Malaysia are expected to witness rapid growth in the large format display market owing to the increased infrastructure developments, infusion of foreign investment in several sectors, including retail, transportation, hospitality, healthcare, education, utility, and manufacturing, and government spending in improving public and private infrastructure and services. Owing to low labour costs in the APAC region, the overall installation cost of digital display systems is significantly low. This has led to the emergence of APAC as one of the potentially favourable markets for large format displays.
“APAC is expected to hold the largest share of the digital signage market in 2026. The increasing commercialization of 5G technology in China, South Korea, Japan, and other countries of APAC, along with the ongoing technological advancements in the wireless communication infrastructure, is expected to spur the demand for connected devices and related technologies. This could drive the demand for large format displays used in commercial, institutional, infrastructure, and industrial applications.”
According to the report - “Large Format Display Market with COVID-19 Impact Analysis by Offering, Type, Technology (Direct-View LED, LED-backlit LCD), Size, Brightness, Installation Location, Application (Retail, Hospitality, Sports, Education), Region – Global Forecast to 2026” - the indoor installation segment will hold the highest market share in 2026.
“The indoor installation segment of the large format display market, by installation location, is projected to register the higher CAGR during the forecast period. This growth can be attributed to the high penetration of large format displays in the retail, education, corporate and broadcast and hospitality applications. The high demand for indoor displays in these applications is mainly due to the increasing adoption of immersive and highly interactive display technologies. Further, the rising deployment of video wall displays in command and control centres and other such public places in indoor settings has led to an increase in the market growth of large format displays for indoor environments. The growing adoption of self-service touch-based kiosks, which allow customers in the retail application to browse digital products and make purchases, is expected to accelerate the installation of large format displays in indoor environments.”
The direct-view fine-pixel LED segment will register higher compound annual growth rate (CAGR) during the forecast period, researchers found.
“The market for large format display based on direct-view fine-pixel LED technology is expected to exhibit the highest CAGR during the forecast period owing to the benefits offered by them, including high brightness, clarity, easy installation, scalability, wide viewing angles, long operational life. These benefits make them perfectly suitable for use in both indoor and outdoor environments. Moreover, the commercial development of pre-configured all-in-one direct-view LED displays based on fine-pixel LED technology available in screen sizes of more than 100 inches from major display manufacturers is expected to drive the market growth of these displays in the coming years.”
The report identifies “the key players in the global large format display market” as Samsung Electronics (South Korea), LG Electronics (South Korea), Sharp Corporation (Japan), Leyard Optoelectronic (US), Sony Corporation (Japan), Barco (Belgium), Panasonic Corporation (Japan), Shanghai Goodview Electronics (China), AU Optronics (Taiwan), Unilumin (China), and ViewSonic (US). “These players are increasingly undertaking strategies such as product launches and development, expansions, partnerships, joint ventures, collaborations, and acquisitions to increase their market share.
More information here.
MarketsandMarkets provides B2B research on 30,000 high growth niche opportunities/threats, “currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients."
