PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1408882
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1408882
LED Display Market size was valued at USD 16,521.65 Million in 2023, expanding at a CAGR of 7.9% from 2024 to 2032.
An array of light-emitting diodes is used as pixels in a flat panel display called an LED display to create a video display. They may be utilized for billboards and retail signage outdoors where they can be seen in the sun due to their brightness. Nowadays, one may also see them frequently on variable-message highway signs and destination signs on public vehicles. When utilized for stage lighting or other decorative (as opposed to informative) purposes, LED displays can provide general illumination in addition to visual display.
The increasing product launch is expected to propel the LED display market during the forecast period. For instance, in August 2023, the LG MAGNIT All-in-One (model LAAA), a revolutionary Micro LED signage system, was introduced by LG Electronics (LG). This remarkable 136-inch model, which is perfect for corporate conference rooms, combines a premium screen with a 1.56-millimeter pixel pitch and LG's cutting-edge Micro LED technology with an integrated controller and speaker. The LG MAGNIT All-in-One not only has exceptional image quality but also a webOS platform that makes it easy to operate, seamless connectivity with AV control systems, and simple installation. With LG's advanced Micro LED display technology, pictures on the LG MAGNIT All-in-One come to life with rich colors and deep blacks. The company's LED chip alignment and surface treatment technologies improve white uniformity and reduce color distortion, while its Micro Pixel Pitch technology helps with color clarity and precision. Together, these technologies provide exceptional picture quality over a broad viewing angle.
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. Europe held the largest market share in 2023 and is expected to show its dominance during the forecast period. LED displays are being used more often in Europe for advertising and digital signs. LED displays are widely used in retail establishments, transit hubs, and public places due to their capacity to provide dynamic content and excellent visibility even in outdoor environments. Additionally, the growing product launch by the market players in the region is the main driver that florish the industry expansion. For instance, in April 2023, Sharp NEC Display Solutions Europe introduced the NEC LED FC Series with Chip on Board (COB) technology, which has great contrast, good endurance in public settings, and exceptional energy efficiency. The new FC Series benefits from front serviceability for all components, providing easy access for maintenance, while utilizing the existing popular F type cabinets for fast set-up and flexible usage.
The major players operating the LED Display market are: NEC Corporation, Toshiba Corporation, Planar Systems Inc., Barco N.V., Koninklijke Philips N.V., Leyard Europe, Samsung LED Co. Ltd., DEEPSKY CORPORATION LTD, ViewSonic Corporation, AOTO Electronics Co. Ltd., LG Electronics Inc., Panasonic Corporation, Daktronics Inc. and Sony Corporation among others. These players adopted various types of strategies to acquire a major market share. The strategies include product launch, acquisition, collaboration, agreement, expansion and others.
In July 2023, Newline Interactive, the leading manufacturer of premium interactive displays and collaboration solutions, announced the launching of the DV Series, a big new format Direct View LED panel. The Newline DV Series is an all-in-one Direct View LED display that blends cutting-edge technology with a sleek appearance. The Newline DV Series, available in widths 120", 150", and 180", features a sleek bezel-less display area and lightweight construction with a 19.8mm cabinet affixed to a 6mm ultra-thin frame.
The scope of this report covers the market by its major segments, which include as follows: