Large Format Display Market - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 2026)

By Author: Statzy Market Research
Total Articles: 979
Comment this article

The Large Format Display Market is expected to register a CAGR of 6.6% over the forecast period 2021 to 2026. The large display market has witnessed many crucial technological advancements in the past few years, such as direct-view fine-pixel LED display technology and the narrow bezel LCD displays. The previously used bulky and space-consuming displays have evolved into bezel-less and slim displays. The display devices currently being used for various purposes have improved contrast ratio, high resolution, and consume less power compared to the traditional displays.

- The recent advancements in display technologies and the adoption of digital connectivity are expected to result in the rapid adoption of public information displays (PID). According to Samsung, the PID market is expected to reach annual PID unit shipments of 10.2 million by 2020.
- The affordable price of digital displays and increasing panel size are few other factors resulting in the entry of new players that find unique product implementations, which is further helping in digital screen adoption. The replacement of billboards with digital signage ...
... that comprises LEDs in many countries has aided the growth of the large format LED display products.
- With the increasing complexity around online advertising, coupled with the premium pricing charged for ad blockers, marketing and advertising companies are looking for alternative solutions that may enable them to display their advertisements or messages. This presents the outdoor large format display segment with a lucrative opportunity, which may boost its adoption over the forecast period.
- According to the Outdoor Advertising Association of America (OAAA), in 2018, the top spenders, in terms of out-of-home advertisements, included Geico, Netflix, Google, American Express, Apple, McDonalds, Metro by T-Mobile, Amazon, M&Ms, Chevrolet, Facebook, and Universal Pictures, among others, with Apple and McDonalds retaining their top spots.
- The technological advancements in the display technology have led to the incorporation of touchscreen technology into the large format displays that are able to offer enhanced user experience. The major applications of these touchscreen displays are in corporate meetings, control rooms, retail stores, and educational institutes. Major vendors in the market are offering touchscreen displays to cater to the rising demand from consumers.
- However, at the time of the COVID-19 pandemic, players are focusing on the innovation based on touchless technologies for the interactive large format displays. Large display interaction using hover and capacitive imaging of all objects and people near the display surface is an intuitive new way to interact.
- The rising applications of large format displays in the digital signages are creating significant number of opportunities for the market studied. According to Dentsu Aegis Network, the ad spend in Western Europe during FY 2018 stood at 3.9% (Yo-Y), and it is expected to see a 3.3% growth by 2020, whereas Central & Eastern Europe's growth during FY 2018 stood at 8.6%, and it is expected reach 6.2% by 2020.
- As interactivity becomes more central to new digital signage network deployments, the technology is likely to evolve from single-touch displays to multi-touch screens, before ultimately transitioning into multi-user, multi-touch, and ultra-HD/4K displays.
- For instance, in January 2020, Panasonic Corporation delivered a wide range of equipment essential to the Tokyo National Stadium operation with large screen displays and approximately 600 digital signage systems, the largest number of such systems ever delivered, to the National Stadium.

Key Market Trends

Commercial Segment to Witness Significant Growth

For sample report please visit: https://www.statzyreports.com/report/sr497423/large-format-display-market

- The commercial segment is expected to witness significant growth during the forecast period primarily owing to the increased activity of brand and offers advertisements by various organizations that are increasingly deploying large screens of various sizes in shopping malls and retail stores.
- Moreover, as compared to the consumer displays, the commercial displays from many vendors are offered with additional features and services such as portrait mode operation, additional input ports, environment resistance, extended warranty, ability to operate all day, and higher brightness.
- Furthermore, the fine-pixel LED displays, that are used to construct smooth video walls, are also expected to experience high demand from the commercial sector during the forecast period. Also, the increasing awareness of the benefits of video walls among customers is expected to drastically increase their demand across the globe.

North America is Expected to Dominate the Market

- North America is expected to hold a significant share in the market studied over the forecast period, due to the presence of some significant players in the region, coupled with the extensive R&D activities resulted in the full-scale adoption of the large format displays in the region.
- The major factor driving the growth of this regional market is rising outdoor advertisements. According to the Out of Home Advertising Association of America, the OOH advertising revenue rose by 7.7% in 2019, over 2018. This includes digital out of home and is comprised of billboards, street furniture, transit advertising, and place-based media. With such a positive outlook showcased by the industry, the market studied is expected to grow at a steady pace in the region over the forecast period.

- The players present in the ecosystem, through strategic partnerships, are working closely to introduce new technologies into the market studied. This is expected to fuel the demand for large format displays over the forecast period.
- For instance, in September 2019, Captivate, North America's leading location-based digital video network, announced a strategic partnership with location-based martech company Hivestack to launch programmatic channels for digital advertising, thereby, to enable programmatic buying of Captivate's system of premier office media inventory, through Hivestack's private marketplace (PMP) and ad exchange.

- In May 2020, Prysm Inc., a major display and visual collaboration solutions provider, created a new category in the display market by unveiling its largest seamless interactive display, the Prysm Laser Phosphor Display (LPD) 6K Series, 225, which is 20ft wide and 5ft high. The Prysm LPD 6K Series is an interactive large-format display that offers a panoramic image uninterrupted by seams or bezels. The newly developed LPD is an extremely energy-efficient interactive touch display that is shatter-resistant, flexible, and offers rollability for transport.
- The market has also observed a significant number of strategic merger-acquisition instances, which may further boost the growth of the market. For instance, in September 2020, Sahara Presentation Systems PLC (which includes Sahara AV Solutions, Clevertouch and Sedao) was acquired by Boxlight Corporation. The acquisition by Boxlight is set to benefit Sahara AV's, Sedao's, and Clevertouch's partners across the world, with an even greater range of audio-visual solutions for greater collaboration, classroom, and workspace technology.
- Some prominent players in the region are launching campaigns that use billboards to promote ad campaigns among the people of the region. Thus, this increasing use of technology is expected to boost the market studied over the forecast period.

Competitive Landscape

The Large Format Display Market is highly competitive owing to the presence of many small and large players in the market supplying their products in the domestic and international markets, with the major players adopting strategies like product innovation and mergers and acquisitions to expand their geographical reach and stay ahead of the competition. Some of the major players in the market are Samsung Electronics Co., Ltd, LG Display Co., Ltd., Sony Corporation, Panasonic Corporation among others.

- Mar 2020 - NEC and Sharp agreed to create a joint venture by combining NEC Display Solutions (NDS), a subsidiary of NEC, with Sharp. The new joint venture is expected to allow both companies to build their strengths and address the visualization needs of their global customers
- Oct 2019 - Samsung has entered into a partnership with Golden State Warriors to Install NBA's Largest Centerhung LED Scoreboard at Chase Center. Chase Center, a sports and entertainment venue provided incredible fan experience with more than 64 LED video displays including the largest center-hung video display.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

For sample report please visit: https://www.statzyreports.com/report/sr497423/large-format-display-market

Contact Us:
Poojan Dogra
Public Relations Manager
Statzy Market Research
Email : info@statzyreports.com
(IN) - +918484035727
(US) - +1415-871-0483
Website : www.statzyreports.com

StatzyReports is the premier global market research and business reports company based in India. StatzyReports.com functions under Statzy Market Research. We offer our expertise globally in services related to market research, business strategy consulting, surveys or questionnaire, forecast and statistical data analysis. Our experience working with major business and customer driven companies enabled us to develop some of the best winning strategies for succeeding in various global markets. Our globally renowned experts mastered the art of perfection with their unique skillset and vast experience in research and data analytics.