The large format display market is expected expand at a robust annual growth rate of 6.6% from 2022 to 2031, according to new data from global researcher Shibuya Data Count (SDKI), and bezel-less LED panels are the driver.
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| Mackay Council's outdoor screen by Brisbane-based LED signage manufacturer Voxson |
“Some of the major factors driving the growth of large format displays are the increasing technological innovations in the direct-view technology primarily in the LED type displays, the technological advantages they present, and the rapid adoption of highly bright HD large displays which offer better flexibility, stability, sustainability, and environment resistant features,” according to SDKI’s 'Large Format Display Market - Growth, Trends, and Forecast (2020 - 2025).'
“The large display market has witnessed many crucial technological advancements in the past few years, such as direct-view fine-pixel LED display technology and the narrow bezel LCD displays,” the report said.
“The previously used bulky and space-consuming displays have evolved into bezel-less and slim displays. The display devices currently being used for various purposes have improved contrast ratio, high resolution and consume less power as compared to the traditional displays.
“The hIgh-definition LED displays currently being offered in the market have minimal bezels that allow it to be tiled together to form a completely immersive and limitless video wall. These characteristics make these LED displays an excellent choice for large-scale digital signage and other applications.”
Asia Pacific region expected to witness significant growth
The Asia Pacific region is expected to witness the highest market growth primarily owing to the presence of major large display manufacturers which are providing innovative products to the domestic as well as to the international market, according to the report.
“Players in this region are continuously releasing new products in the market. For instance, Sharp Corporation, in August 2019, expanded its smart signage technology with three new products of 4K information display panels. These three new products offer a true 4K UHD resolution which is four times the resolution of a FHD panel, rendering all on-screen content, including both movies and still images in superbly realistic detail and depth.”
Competitive Landscape
"The large format display market is highly competitive owing to the presence of many small and large players in the market supplying their products in the domestic and international markets. The market appears to be moderately concentrated with the major players adopting strategies like product innovation and mergers and acquisitions to expand their geographical reach and stay ahead of the competition. Some of the major players in the market are Samsung Electronics Co., Ltd, LG Display Co., Ltd., Sony Corporation and Panasonic Corporation, among others."
More details about the report here.
