Large Format Display Market Size & Share to Surpass US$ 26.2 billion by 2031 Says, Transparency Market Research

With the advancement of technology and virtual collaboration, demand is expected to increase. Branding and outdoor advertising will drive large format display growth. 

WILMINGTON, Del., Oct. 30, 2023 /PRNewswire/ -- The large format display market was valued at US$ 13.4 billion in 2022. The market is predicted to reach US$ 26.2 billion by 2031. Between 2023 and 2031, the market is expected to register a CAGR of 7.8%. With technological development, including MicroLED, OLED, and 8K displays, LFDs have become more impressive, and this has led to an increase in interest in upgrading.

Economies of scale and improvements in manufacturing have lowered the cost of LFDs, making them more affordable to a wider range of industries. For enhancing productivity and facilitating virtual meetings, larger displays have become increasingly popular due to remote work and virtual collaboration.

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AI and interactive features have been integrated into LFDs, expanding their capabilities and making them more appealing for various purposes. Eco-conscious displays are becoming increasingly popular due to a growing focus on energy efficiency and environmental responsibility.

Data from connected devices is increasingly displayed by LFDs, which can be connected to the Internet of Things (IoT) ecosystem. Content customization and personalization on LFDs have fueled their adoption in various industries to give customers and users tailored experiences. More businesses are recognizing large format displays as beneficial digital solutions, resulting in an increase in consulting services.

Large Format Display Market Report Scope:

Key Findings of the Market Report

• Large format displays are critical to presenting products and attracting customers to the retail sector.
• The sports stadium and arena industry is exploring appealing marketing tactics and ways to keep fans engaged.
• In 2022, standalone display types accounted for 62.7% of total market share.
• About 55.2% of the market share accounted for high-definition resolutions in 2022.
• Asia Pacific is forecast to account for the largest market share from 2023 to 2031. A substantial 40.0% market share was recorded by the region in 2022.

Large Format Display Market Drivers

• The LFD market is largely driven by digital signage. LFDs are increasingly being used in retail, transportation, hospitality, and other industries to display advertising, and information, and engage the public.
• Educational institutions for interactive learning experiences are increasingly adopting LFDs. By using these displays, students can learn collaboratively, engage in learning, and experience content in a more interactive manner.
• A growing number of companies are seeking alternatives to ad blockers, branding, and advertising as a result of the complexity surrounding online advertising. Several major advancements have occurred in the large display market in recent years like fine-pixel LED displays and narrow-bezel LCDs.
• Healthcare organizations use large format displays to display medical images, facilitate telemedicine, and engage patients.
• Public spaces and public buildings in government buildings often feature large-format displays for public information, navigation, and interactive kiosks.
• Entertainment and hospitality venues such as sports arenas, hotel complexes, and entertainment complexes rely on large-format displays for large screen displays, video walls, and interactive displays.
• A more immersive gaming experience has been enabled by large format displays in the gaming industry. LFDs are also often used for live broadcasts of e-sports events.

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Global Market for Large Format Display Regional Outlook

• Large format displays are expected to be the most popular in Asia-Pacific by 2031. A number of macroeconomic policies are rapidly being implemented, growing the demand for large format displays in the market.
• Increasing consumer demand and rapid developments in the digital world are driving the market to grow. Integration of trade and economy and advancements in wireless infrastructure have impacted the region's economy.

Global Large Format Display: Key Players

Established players hold a strong position in the highly fragmented global industry. Global suppliers allow manufacturers to select raw material suppliers from a large pool of options.

To increase their market share in the large format display market, vendors offer large-panel size LFDs and invest in research and development. Key market players in the large format display market include:

• Barco NV
• Hangzhou Hikvision Digital Technology Co., Ltd.
• Leyard Optoelectronic Co., Ltd. (PLANAR)
• LG Display Co., Ltd.
• Sharp NEC Display Solutions
• Panasonic Holdings Corporation
• Samsung Electronics Co., Ltd.
• BOE Technology Group Co., Ltd.
• View Sonic Corporation
• Au Optronics Corp.
• Unilumin Group Co., Ltd.

Key Developments in the Global Large Format Display Landscape

• In May 2023, Sharp NEC Display Solutions of America (SNDSA) and Sharp Imaging and Information Company of America (SIICA) unveiled the MultiSync M751 display, designed for high-end corporate conferencing and large format digital signage. In various sectors, such as restaurants, retail, and control/command centers, the NEC MultiSync M751 provides crystal-clear and vivid corporate presentations.
• In October 2023, ViewSonic India added new product lines to its product collection at InfoComm India 2023. Workshops and seminars was be held at the Jio World Convention Centre in Mumbai. ViewSonic showcased a wide variety of products and solutions during the three-day event. Projectors and large-format commercial and interactive displays are some of the products offered by the company.

Global Large Format Display Market: Segmentation

Display Type

• Video Wall
• Standalone

Display Size

• Small
• Medium
• Large

Technology

• LED
• LCD
• OLED
• Plasma Display

Resolution

• Standard Definition
• High Definition
• Ultra-high Definition
• Others

Application

• Indoor
• Outdoor

End-use Industry

• Media and Entertainment
• Commercial
• Enterprises
• Hotels
• Government
• Transportation
• Academics Institutes
• Shopping Malls and Retail
• Sport Stadiums
• Public Places
• Others

Region

• North America
• South America
• Europe
• Asia Pacific
• Middle East & Africa

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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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SOURCE Transparency Market Research