“Large Format Display (LFD) Market by Offering, Display Type (Video Wall & Standalone), Technology (LED-Backlit LCD, Direct-View LED, OLED, E-Paper), Size, Brightness Level, Application (Indoor & Outdoor), Vertical, and Region – Global Forecast to 2023″
The LFD market, the market is expected to grow to USD 14.93 Billion by 2023 from USD 9.51 Billion in 2016, at a CAGR of 6.7% between 2017 and 2023. Increasing innovation in direct-view fine-pixel LED displays and their technological advantages are is expected to be the major drivers for the market.
The increasing innovation in direct-view fine-pixel LED displays and their technological advantages are driving the growth of the large format display market. The market is also driven by factors such as availability of highly bright HD LFDs offering better stability, flexibility, sustainability, and environment resistance; increasing demand for brighter and power-efficient LFDs in several applications; and increased applications for digital signage.
The market is segmented into video walls (tiles of any size) and standalone displays (more than 32 inches). Video wall displays contributed a large format display market share in 2016 and are expected to witness a higher growth rate than standalone displays. The growing awareness among customers regarding the benefits of video wall has drastically increased their adoption rate worldwide.
LCD displays held the large market share in 2016, and the trend is expected to continue during the forecast period. However, this market share is expected to decline rapidly owing to the growth of direct-view fine-pixel LED technology. Currently, large-pixel LED displays are widely used in various outdoor applications, and with the high adoption rate of fine-pixel LED displays, both fine-pixel and large-pixel direct-view LED displays would hold a larger market share by 2023, surpassing the LCD technology.
Commercial industries held the largest market share in 2016 because of the rising installation large format displays in malls and shopping centers. However, infrastructural industries are expected to drive the growth of large format display market during the forecast period. Direct-view fine-pixel LED displays are expected to have a high demand in transportation, public places, sports, and entertainment venues during the forecast period. LFD players will find various opportunities in untapped and emerging applications in industrial manufacturing, BFSI, and education, industries.
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