The global large format display market is one of the fastest evolving markets of recent times, and the increasing demand for large format displays propels the market furthermore. The global large format display market is expected to reach approximately USD 15.1 billion by the end of 2023 with 7% CAGR during forecast period 2017-2023.
Large-format displays are output screens that can be used for different purposes in several businesses and facilitate various advantages. The large screen display implies a format where information is displayed. These screens usually include LED, LCD, and Plasma which are then connected to the television with the help of digital signage or HDMI. The commercial digital signage displays are mostly utilized in museums, retail environments, hospitals, conference applications, and other sectors due to the availability of many features. The brightness adjustment features and capability for operating 24 hours expand the large format display market size.
Over the years, the escalation in innovations in the LED display screens has resulted in the growth of the global market. There is a wide range of applications of the large screen display, and these screens are highly adopted for digital advertising, education, and conferencing applications. The large variety of usage of the large screen display boosts the growth of large format display market share. The introduction of 4K technology is another factor that drives the potential of the commercial large format display signage market. Even though the large screen displays are quite big but the power utilized in the operation of it is comparatively low. The cost of these systems in the large format display industry is quite low, which benefits in elevation of the market potential.
The presence of high definition large screen displays in the market increases the adoption and implementation in various sectors, which in turn results in the expansion of the global large format display industry size. The rising utilization of digital signage has resulted in boosting the market growth of large format display monitor. The advantageous features like flexibility, environment resistance, and stability have drawn the attention of large format display manufacturers to produce more and more display screens and increase their profitability. All these factors help in elevating the global large format display market growth to maximum heights.
The report describes the insights of the large format display industry along with the forecasted valuation and growth rate. It elaborates on the impact of COVID 19 on the large format display market and explains the market dynamics, including challenges and opportunities of the market. It also sheds light on the key players of the global market that can have a major influence on the market in the forecast years. It provides an idea about several segments of the global market and includes an analysis of certain geographies that can affect the market growth in the upcoming years.
COVID 19 Analysis
The outbreak of the COVID 19 pandemic adversely affected the global economy and constricted the growth rate to lower levels. The severe consequences of the pandemic have been witnessed in both the financial and health sector. The growth of the economy has declined to low rates that it will take many years to get back to its normal position. As the lockdown measures closed industrial operations and manufacturing units, the supply chain got extremely disrupted. However, the increased shift towards digitalization maintained the growth of the global large format display market. The wide variety of applications of digital advertising display screens has resulted in an upsurge in the LFD market growth.
The global market is emerging at a faster rate in recent years and is anticipated to reach optimum levels in the near future. The large variety of applications increases the usage of the large format display monitor, which results in propelling the potential of the large format display industry. In the education, conference, and retail environments, the application of large-screen displays is rising at a rapid pace, and the availability of various large screen display sizes escalates the demand furthermore.
The introduction of 4K technology has increased the requirement for large format display monitors, and the system’s ability to operate 24 hours has been projected for the growth of the global large format display industry share. With these display screens, the brightness needed is very low, which leads to less consumption of power. These power and cost-efficient large screen displays and have pushed the large format display industry growth to a greater extent. As the innovations and developments in LED displays are growing rapidly, the demand for commercial digital signage is also escalating. The advantageous features of large format display monitors are surging the potential of the market upwards.
The availability of HD or high-definition large-screen displays and a wide variety of applications is raising the demand for the global large format display market. In recent years, the increase in the utilization of digital signage is continuously fueling the potential of the global market. Several large-screen display sizes have drawn the attention and interests of people all around the world.
The rising demand encourages large format display manufacturers to produce more and more displays for increasing profitability. These digital advertising display screens have longer durability due to environment resistance, and the stability along with flexibility enhances the growth of large format display industry share.
The COVID 19 pandemic acted as a major constraint for the global large format display market. During the lockdown, companies were unable to operate their day-to-day activities. The lockdown restrictions put a halt on all the industrial manufacturing work, which caused heavy financial losses. Even in such a harsher situation, the large format display market maintained its growth rate as the increased innovations, and a large variety of applications continued to rise.
It is quite evident that the global market has various advantages that lead to elevation of the market growth. However, the growth of the large format display (LFD) market can be constricted by some challenges. The expense of the large screen display might be costly for some people, which hamper the expansion of large format display market size.
Value Chain Analysis
The revenue generated from the global large format display market over the past couple of years reflects the improved potential of the market. The large-format display (LFD) market is surging to greater heights, and in upcoming years, it will surpass the market value of many previous years’ growth. Towards the end of 2023, the market share will be attaining higher momentum.
The global large format display market is fragmented into various parts on the basis of display type, end-users, component, and region. The large-format display market segmentation on the basis of display type includes standalone displays and video walls. On the basis of components, the large format display market consists of displays, accessories, controllers, mounts, and many more things. The end-users segment of market size comprises entertainment, retail, sports, education, government, transportation, BFSI, infrastructure, healthcare, and others. The global market segmentation on the basis of region includes different geographies like North America, Asia-Pacific, Europe, and other parts of the world.
The global market is studied in several regions such as North America, Asia-Pacific, Europe, and other parts of the world. The North American region has the major large format display industry share. The rising investments for technological products, a potential market for cutting-edge technologies, growing implementation in the healthcare sector, and low operational cost have propelled the large format display (LFD) market growth in North America.
In the Asia-Pacific region, there is an increased demand for consumer electronics. The elevation in the manufacturing hub and implementation of technological solutions will boost the growth of the large format display industry share for his region.
Competitive Landscape of the market
The global large format display market major key players are:
The global market of large format display is likely to thrive at 7% CAGR and value at USD 15.1 billion during review period 2017-2023 due to increase in sales of LED products.
NEC Corp. (Japan), TPV Technology Ltd. (Hong Kong), Sony Corporation (Japan), and View Sonic Corporation (U.S.) are some major player of the large format display market.
Video wall and standalone display are two types of large format displays. Video wall large format display type is likely to gain considerable traction.
Controllers, displays, mounts, and accessories are components of large format display. The availability of different component manufacturers is expected to bolster the large format display market growth.
The North America large format display market is expected to secure the largest share of the global market in the review period and the APAC market is likely to thrive at high CAGR in the assessment period.