Fine pixel pitch LED displays are gaining immense popularity owing to their application in diverse industries. The introduction of innovative and new products in the global market is encouraging the growth of the overall market. Moreover, the rising rate of the development of video walls is one of the key factors augmenting the global fine pixel pitch LED displays market in the next few years.
In 2015, the global market for fine pixel pitch LED displays was valued at US$677.1 mn and is likely to reach a value of US$3.1 bn by the end of 2024. The market is anticipated to register a progressive 15.80% CAGR between 2016 and 2024.
E-commerce to Offer Promising Opportunities for LED Manufacturers
On the basis of sales channel, the global fine pixel pitch LED displays market can be categorized into direct sales, retail shops, and e-commerce websites. The direct sales segment is estimated to lead the global fine pixel pitch LED displays market and account for a massive share in the next few years. On the other hand, the e-commerce segment is projected to grow at a substantial rate. Key manufacturers in the global fine pixel pitch LED displays market are emphasizing on increasing their penetration in international markets with the help of promotional activities of their key products through e-commerce websites.
The global market for fine pixel pitch LED displays can be classified on the basis of application into simulation and visualization, digital signage, broadcast screens, and control room and monitoring. The control room and monitoring segment is projected to lead the global market and register a substantial growth rate in the next few years. The rising demand for monitoring applications is due to the higher resolution offered by fine pixel pitch LED displays in comparison with other display solutions. This is likely to augment the growth of the control room and monitoring segment of the global market.
Rising Number of LED Manufacturers to Augment Asia Pacific Market
From a geographical perspective, Asia Pacific is leading the global fine pixel pitch LED displays market and is likely to remain at the topmost position in the next few years. In 2015, this segment accounted for a share of 59.0% in the global market, owing to the increasing number of LED display manufacturers in several countries, including South Korea, China, Taiwan, and Japan. In addition, the rising demand for fine pixel pitch LED displays in corporate offices, retail stores, and shopping malls in this region is predicted to augment the market in the coming years. On the other hand, North America is anticipated to offer potential opportunities for players in the market, thanks to the rising spending on digital display advertising by most of the leading brands in Canada and the U.S. The swift development of the tourism industry is anticipated to augment the fine pixel pitch LED displays market in the Middle East and Africa.
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Some of the key players operating in the fine pixel pitch LED displays market across the globe are Unilumin, Daktronics, Inc., Leyard Optoelectronic Co. Ltd., SiliconCore Technology, Inc., Panasonic Corporation, NanoLumens, Inc., Barco, PixelFLEX LED, Shenzhen Absen Optoelectronic Co., Ltd., Shenzhen AOTO Electronics Co. Ltd., Christie Digital Systems USA, Inc., and NEC Display Solutions, Ltd.