A large-format display monitor will be an excellent aid for encouraging interaction, showing videos/imagery, and presenting clearly. Large-format displays are designed for demanding applications with high durability and performance requirements. From communicating information to enhancing ambiance, and are the ideal complement to any control room, retail store, lobby, or other professional application. Large-format display screens pop up everywhere, from schools and reception desks to meeting rooms and leisure centers. Large-format displays are flat screens that are sleek and very minimal in design, allowing businesses to showcase advertisements, media, messages, and presentations to customers and visitors.
The global large format display market size was valued at USD 13 billion in 2019 and projected to reach USD 18.5 billion by 2027, growing at a CAGR of 7.1% during the forecast period, 2020-2027. The major factors are the technological innovations and advancements related to large format displays coupled with the incorporation of touch screen technology to enhance user experience. Additionally, the increasing high adoption of signage and interactive displays in the commercial sector and surging applications of flexible displays will spur the global large format display industry in the future periods. Furthermore, the availability of ultra-high definition displays with enhanced readability features and the growing introduction of 4K technology is expected to witness remarkable growth of large format displays. The increasing consumer demand for advanced features such as remote control functionality and ease of use and growing innovations & developments for OLED are expected to propel the demand for large format displays over the coming years.
Moreover, the upsurge in demand for large format displays from the healthcare, education, sports & entertainment verticals and increased investments by emerging economies in public infrastructure development projects and real estate is positively impacting the market for the large format display industry. Furthermore, the increasing demand for customized digital signage solutions, developments in infrastructure, and changing lifestyles are fueling the demand for the large format display market. The growing applications of large format displays in tutorials, advertising, trade shows, and conferences will bolster the global large format display market share. Additionally, the growing demand for power-efficient displays and the increasing need for better picture quality displays for industrial purposes propelling the growth of the large format display market across the globe.
The advent of the latest display technologies, including OLED displays, microLED displays, and electronic paper displays, has accelerated the growth of the global display industry at a rapid pace. Samsung Electronics, LG Electronics, Sony, and Sharp are companies that design and manufacture advanced display technologies, including OLED and microLED displays. For instance, in November 2020, Sharp- a Japanese multinational corporation-originated the massive 8K ultra-HD professional LCD. The new display is packed in 33 million pixels and has a color filter with a wide color gamut and optimized LED backlight phosphors, enabling it to deliver brilliant clarity and reproduce improved grading of red, blue, and green pixels. The development of a direct-view fine-pixel pitch large-format LED display that delivers bright images with ultra-high-definition resolution and provides other advantages, including greater energy efficiency, improved stability, higher flexibility, enhanced durability, has driven the demand for large format displays. Some significant manufacturers of direct-view fine-pixel pitch LED displays are Sharp, Sony, and Samsung Electronics, offering premium displays for signage applications. The global market is emerging faster in recent years and is anticipated to reach optimum levels soon. The wide variety of applications increases the usage of the large format display monitor, which results in propelling the potential of the large format display industry. In the conference, education, and retail environments, the utilization of large-screen displays is rising rapidly, and the availability of various large-screen display sizes escalates the demand further. As the discoveries and advancements in LED displays are proliferating, the need for commercial digital signage is also escalating. The beneficial features of large format display monitors are growing the potential of the market upwards.
The global large format display market is segregated into displays, controllers, mounts, and other accessories and services based on the offering. The services segment is estimated to the highest growth over the analysis timeframe. Due to the growing demand for display consulting and maintenance services for hardware devices and other services that customers repeatedly require throughout the operational life of digital display systems, these displays get adopted across several industries for various applications.
The displays will grow significantly due to the high-resolution commercial-grade large-screen displays from the sports, education, healthcare, and entertainment verticals.
The global large format display market is categorized into a standalone display and video wall based on the technology. The video wall segment held a significant market share in 2019 and will gain maximum market revenue by 2027. It is attributable to their growing use by consumer-driven organizations in different applications, including retail, sports, corporate & entertainment. Additionally, the video wall includes a display with high pixel density and can be configured into multiple arrays of sizes.
The standalone display deposition segment is poised to witness significant growth over the forecast period. It is due to their growing use in a variety of industries and military sectors.
Based on the application, the global large format display market is classified into LED-backlit LCD, direct-view large-pixel LED, direct-view fine-pixel LED, OLED, and projection cube. The direct-view large-pixel LED is expected to be the highest revenue share for large format displays during the forecast period. The segment’s growth is primarily attributed to the rising adoption in retail outlets, convention centers, corporate offices, and other public places because of their falling prices. Furthermore, the increasing focus is on developing all-in-one fine-pixel direct-view LED displays in a single screen design with pre-configured connected LED display panels.
The direct-view fine-pixel LED will witness a lucrative growth rate in the estimated period due to the rising adoption in indoor applications.
Based on the end-user, the global large format display market is segmented into below 40 inches, between 40 and 60 inches, between 60 and 90 inches, between 90 and 120 inches, and above 120 inches. The below 40 inches segment will dominate the global large format display market by 2027. Due to the high demand in the advertisement and business sector, they often have super-thin bezels with a wide range of connectivity options. In addition, state-of-the-art technologies, including micro-LED and mini-LED, are incorporated in the latest commercial-grade TVs by leading manufacturers such as Samsung.
The between 40 and 60 inches accounted for the largest share of the large format display market in 2019 on account of their higher-size curved, widescreen monitors that is specialized for graphic designing and media & advertisement applications.
Based on the end-user, the global large format display market is segmented into commercial, institutional, infrastructure, and industrial. The commercial segment will dominate the global large format display market by 2027. It is due to the high demand for commercial-grade TVs and digital signage in digital advertisements for marketing and promoting products & services. In addition, the players in the commercial sector are adopting a modern advertising approach. The enhanced activity of brand and advertisements offered by various organizations increasingly deploy large screens of different retail stores and shopping malls.
The industrial accounted for the largest share of the large format display market in 2019 due to the growing number of industries. Such establishments require many display solutions for various applications such as new product launches, ad blockers, marketing, and advertisement.
The global large format display market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa by geography. North America is assigned to project considerable growth over 2020-2026. It is due to some significant players in the region, rising outdoor advertisement activities, and the high adoption of commercial displays in the hospitality, transportation, and retail sectors.
The Asia Pacific will gain a prominent share of the large format display market by 2027. It is due to the rising adoption of new technologies and advancements in the healthcare and infrastructure sectors.
Companies such as Samsung Electronics, Sharp Corporation, Leyard Optoelectronic, Sony Corporation, LG Display Co Ltd, Cisco Systems Inc, Dell, Koninklijke Philips N.V., NEC Display Solutions, Panasonic Corporation, Mitsubishi Electric, Benq Corporation, and Delta Electronics are the key players in the global large format display market.
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