ALBANY, New York, January 24, 2018 /PRNewswire/ --
According to a new market report published by Transparency Market Research titled "Large Format Display Market [By Display Type - Video Wall and Standalone; By Technology - LED, LED Backlit-LCD, OLED and Others; By Display Size- 32-40 Inch, 41-80 Inch and >80 Inch; By Application - Indoor and Outdoor; By End-user - Banking, Financial Services & Insurance (BFSI), Sports & Entertainment, Retail, Healthcare, Corporate, Others] - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017 - 2025" the global large format display market is expected to reach a value of US$ 14,716.2 Mn by 2025. The market is projected to expand at a CAGR of 6.1% during the forecast period from 2017 to 2025.
Large format displays are increasingly used in leisure rooms, shopping malls, meeting rooms, etc. to showcase advertisements, media and presentations in business. They have been gradually progressed from cathode florescent lamps to latest light emitting diode displays to enhance ambience and product offerings of a business. In the recent years, rapid technological changes in the display technology are largely impacting customer decision making at the point of sale, thus improving the overall customer experience.
North America dominated the large format display market in 2016 with U.S. contributing majority share of its revenue. The dominance of North America in the market is attributed to the increasing installation of highly advanced display technologies including fine-pixel LED and OLED in commercial and institutional applications among others. However, the market in Asia Pacific is expected to expand at a highest rate, at a CAGR of 8.0% during the forecast period and is anticipated to become the second largest large format display market by 2025.
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Of the display type segment that comprises of video wall and standalone, the majority revenue share was held by video wall type in the global large format display market in 2016. The video wall is an array of high-resolution displays that is driven by video wall controller. Thus, although it behaves like a single display, the technology behind it delivers much better performance, flexibility, and interactivity that is not possible with standalone displays. Therefore, they are increasingly deployed in retail, sports, & entertainment, corporate and other industries to enhance the appearance of product and service offerings of business.
Of the technology segment, in 2016, the LED backlit-LCD sub segment comprised of the highest revenue share in 2016 in the global large format display market. However, with the increasing installation of fine-pixel and large pixel LED displays, the market share of LED backlit-LCD displays is expected to eventually decrease during the forecast period. Also, the newer technology, OLED is expected to grow considerably during the forecast period especially in the economically developed regions of North America and Europe.
Of the display size segment that comprises of 32-40 inch, 41-80 inch, and >80 inch, the 41-80 inch size held the highest revenue share of 57.6% in the global large format display market in 2016. As 42-80 inch category falls in the typical size range of large format displays, it is widely used across different sectors such as retail and corporate among others. Therefore, this segment is further expected to expand at the highest rate during the forecast period.
The indoor application segment is not only expected to contribute major revenue share in the global large format display market but also projected to expand at a significant pace during the forecast period. The indoor applications comprise of comparatively higher cost displays than those installed in outdoor applications. Also, certain zoning regulations affect the installation of outdoor large format displays. Therefore, the indoor application of large format displays is anticipated to increase faster than in outdoor applications from 2015 to 2025.
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Of the end-user segment, in 2016, retail comprised of the highest revenue share of around 23.6% in the global large format display market. Owing to increasing competitiveness in the retail industry, retailers are installing large format displays for creating a lasting impression through personalization as also brand engagement. Moreover, large format displays are anticipated to expand at a significant CAGR in the sports & entertainment industry owing to their popularity in sport stadiums and digital entertainment. Apart from these, corporate sector is also anticipated to constitute substantial market share in the large format display market by 2025.
The key players profiled in the global Large Format Display Market include Barco NV, NEC Corporation, LG Display Co., Ltd., Samsung Electronics Co., Ltd., Sharp Corp., Sony Corp., TPV Technology Ltd., Leyard Optoelectronic Co., Ltd., Au Optronics Corp., and View Sonic Corporation.
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The report segments the global large format display market as:
Global Large Format Display Market, by Display Type
- Video Wall
Global Large Format Display Market, by Technology
- LED Backlit-LCD
Global Large Format Display Market, by Display Size
Global Large Format Display Market, by Application
Global Large Format Display Market, by End-user
- Banking, Financial Services, and Insurance (BFSI)
- Sports & Entertainment
Global Large Format Display Market, by Region
- North America
- The U.S.
- Rest of North America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of APAC
- Middle East and Africa (MEA)
- South Africa
- Rest of MEA
- South America
- Rest of South America
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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