As per Future Market Insights, the LED modular display market is anticipated to attain a value pool of US$ 6 billion by 2023-end. Global demand for LED modular displays is expected to rise at a CAGR of 17.5% to US$ 30 billion in 2033.
Fine-pitch LED Displays: The Future of High-Resolution Imaging
Rising adoption of digital signage: The demand for digital signage has been increasing rapidly in recent years due to its ability to engage audiences and provide targeted messaging. LED modular displays are a popular choice for digital signage due to their brightness, high resolution, and flexibility in terms of size and shape.
Technological advancements: Advancements in LED technology have made LED modular displays more efficient, reliable, and cost-effective. The development of smaller and more powerful LEDs, combined with improvements in manufacturing processes, has led to increased demand for LED modular displays.
The growing popularity of outdoor advertising: Outdoor advertising is an important marketing channel for many businesses, and LED modular displays are becoming an increasingly popular option due to their ability to deliver high-impact, dynamic content in a variety of weather conditions. The market for LED modular displays is expected to grow as more businesses invest in outdoor advertising to reach their target audiences.
Large-Format LED Modular Displays: Capturing Audiences at Scale
Increasing demand for large-format displays: LED modular displays are capable of creating large-format displays with high resolution and brightness. As more businesses look to create immersive, high-impact experiences for their audiences, there is a growing demand for large-format LED modular displays.
The emergence of new applications: LED modular displays are increasingly being used in a wide range of applications beyond traditional advertising and digital signage. For example, they are being used in stadiums and arenas to enhance the spectator experience, in control rooms for real-time monitoring and visualization, and in architectural applications for creating stunning building facades. As new applications emerge, there will be opportunities for businesses to develop innovative solutions.
Expansion into new geographies: The LED modular display market is growing rapidly in regions such as Asia-Pacific, where there is increasing demand for digital signage and large-format displays. Businesses that can successfully expand into new geographies and tap into these markets have the potential to achieve significant growth.
Transparent LED Displays: A New Dimension of Creativity
Increasing adoption of fine-pitch LED displays: Fine-pitch LED displays are becoming increasingly popular due to their ability to deliver high-resolution images and videos in a compact form factor. With the development of smaller LED chips and advancements in manufacturing processes, fine-pitch LED displays are becoming more affordable and accessible, driving their adoption in a variety of applications.
Shift towards high dynamic range (HDR) displays: HDR displays are capable of displaying a wider range of colors and contrasts, resulting in more vivid and lifelike images. As more content is being produced in HDR format, there is a growing demand for HDR displays, including LED modular displays.
Increasing use of transparent LED displays: Transparent LED displays are becoming more popular in applications where transparency is important, such as retail windows and building facades. They offer a unique way to display content while still allowing natural light and visibility through the display.
Integration with advanced technologies: LED modular displays are increasingly being integrated with advanced technologies such as artificial intelligence, augmented reality, and interactive touch screens. This integration is opening up new possibilities for immersive, engaging experiences that can be customized to the needs of the audience.
LED Modular Display Market Overview
The LED Modular Display market is anticipated to grow with a tremendous growth rate in the forecast period. According to to study the LED Modular Display market is projected to expand between 10% and 14% CAGR during the 2021 to 2031 assessment period
The growing adoption in a variety of applications, such as retail stores, air terminals/railways, media and marketing, sports and entertainment, theatres, and control rooms, is expected to fuel market growth throughout the forecast period.
What is Driving Demand for LED Modular Display
The LED modular display allows any screen size or configuration to be created. These displays are designed for indoor and outdoor use. These displays consist of flat panel display, which integrates the LEDs and the rest of the necessary electronics. Growing prominence in the sports and advertising industry has been one of the significant factors driving the market.
These displays are emerging as one of the preferred solutions for advertising activities. Furthermore, according to industry experts, LED displays have observed tremendous growth in a couple of years and this trend is anticipated to continue in the future, as the adoption rate of these displays increases, sales will increase and a steady decline in prizes will be observed in the fore coming years. This decline in prizes is set to benefit the market in the forecast period.
Who are the Key Manufacturers and Suppliers of LED Modular Display
Some of the leading manufacturers of LED Modular Displays include
NEC Corporation
Barco NV
Samsung Electronics Co., Ltd. (Samsung Group).
Shenzhen Absen Optoelectronic Co Ltd.
Yaham Optoelectronics Co., Ltd..
Sony Corporation
Panasonic Corporation and others
Market participants are investing in innovation and R & D, although this requires a larger budget, which raises the overall cost of the displays, which has prompted manufacturers to provide LED modular displays for rent. Additionally, manufacturers are focusing on providing energy-efficient options.
The report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
