HYDERABAD, India, June 27, 2019 /PRNewswire/ -- The LED display market is driven by increasing awareness about energy conservation and surging use of LED technology in laptops, mobile phones, smart TVs, monitors, and other products. Moreover, the rising demand for LED displays for outdoor advertisements, promotional events sport exhibitions and other parameter also impact the growth of the LED display market. The adoption of advanced display technology will accelerate LED Display Market. It is estimated that the total revenue generated by the LED display market will reach $23bn by 2025 and grow with a CAGR of 14% during the forecast period.
The demand for 5 Plus LED Display Screens are widely increasing as people are becoming more tech-savvy and are switching to LED displays. The latest innovations such as revolutionizing smart TVs, digital advertisements and gaming screens have provided new opportunities for LED display market. The escalating growth for flexible LED displays such as LED curtains, LED matrix and so on, has provided high resolution and a flexible rubber substrate which creates curves to the screen that enhances the customer's visual experience.
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The LED displays are used in various applications such as digital advertising, lighted wallpapers, general lighting, automotive headlamps, traffic signals, and even in medical devices. Moreover, the replacement of billboards with digital signage that comprises of LEDs in many countries has raised the growth of the LED display market.
According to Infotrends' data, in 2018 most of the outdoor advertising companies have gained 32% increased sales by adopting digital signage for advertising. Also, around 30% of the customers are preferring digital signage as menu in the restaurants. The rising adoption of digital signage displays in various stores, restaurants and other public places for seeking attention of the customer has fuelled the growth of LED display market. Moreover, the increasing investments in digital signage by most of the companies to increase productivity and retain customer attention will propel the LED display market in the near future. Digital signage with LEDs is estimated to grow at a CAGR of 18% during the forecast period 2019-2025.
The Asia Pacific (APAC) is the fastest growing region and also the largest contributor to the LED display market in 2018 with a share of 36%. The APAC region comprises of countries such as Japan, South Korea, China, India, and others, which are in the process of innovating LED displays for increasing applications across various industry verticals such as consumer electronics, automotive, and others. Also, China's established hardware base and India's advancing consumer electronics industry due to increasing demand by the customer has provided growth opportunities for LED display market in APAC region.
LED Display Market Growth Drivers:
- Increasing adoption of Digital Advertising: The recent advancements in display technology has attracted most of the companies to invest in digital advertising. Companies are adopting various outdoor media advertising platforms such as billboards, video walls, and other forms of digital advertising displays. The digital advertising displays include the use of LEDs that provides unique display designs and also provide various solutions such as enhancing customer engagement by providing 4K displays, mobile integration by using QR codes and others. It also helps the companies in increasing their revenue since the cost of digital advertising is less as compared to the print media. Thus, the rising trends towards interactive media has led to the increasing demand for outdoor LED displays that drives the market growth and creates opportunities for LED displays.
- The increasing demand for innovative LED display technology: The innovative LED display technology has increased widely due to the availability of superior brightness and longer shelf life of LEDs over LCD displays. Moreover, major market players such as Apple, Samsung, and so on are heavily investing in brand promotions in order to increase customer base and expand their presence in the market. Also, the technological advancements in the display technology has led to the development of micro-LED display and organic light-emitting diode (OLED) displays which are highly being preferred by the consumers. Thus, increasing use of these innovative display technologies in various devices such as Smart TV, smartphones and also the rising use of LEDs for live concerts, billboards and video walls will impact the market growth in the near future.
R&D Investments and Initiatives:
In 2018, VueReal Inc., a developer of micro and nano devices, raised a funding of $8.5m in Sustainable Development Technology Canada (SDTC). . VueReal will utilize this funding for developing micro-LED display technologies and advancing its Nano-Technology Center
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The Major Players in this Market Include:
The major players in the LED Display market include Apple Inc., Samsung Electronics Co. Ltd., LG Display Co. Ltd, Sony Corporation, Oculus, VueReal, Sharp Corporation, Intuilab, and others.
In 2018, Samsung India has launched World's first 'LED for Home' also known as Active LED. These new LED display has revolutionized the in-home entertainment space by enhancing the customer visual experience. Moreover, Sony and Samsung are Micro LED/direct-lit LED-based modules for building custom displays in public spaces such as cinemas, airports, showrooms, and other venues. In 2018, Intuilab, a provider of digital signage software raised $3.7m funding and it helped Intuilab to become an interactive leader in providing digital signage displays.
As LED displays have become the most important technology being used today in various applications ranging from consumer electronics to entertainment. Also, the increasing demand for digital advertising by various companies and the need for innovative display for concerts, in-home entertainment, and so on is set to fuel the LED display market growth. The rising advancement in LED technology and the development of micro-LED and OLED has brought new opportunities for LED display market. Moreover, most of the leading producers are planning to invest in micro-LED display technology as it has the potential to become the next generation display technology.
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