Going forward too, the competition among the players will remain high with numerous big companies trying to come up with more advanced LED video walls to steal a march over their competitors.
Some of the big names operating in the global market for LED video walls are Barco NV, LG Display Co., Ltd., Panasonic Corporation, Daktronics Inc., Shenzhen Dicolor Optoelectronics Co Ltd., Leyard Optoelectronic Co., Ltd., Toshiba Corporation, NEC Corporation, Delphi Display Systems, Inc., Electronic Displays, Inc., Shenzhen Unilumin Group Co. Ltd., and Lighthouse Technologies, Ltd.
The video wall technology is still in a nascent stage and its market is expanding in developed and developing countries. The revenue in the global market for LED video walls is likely to rise at a healthy 8.1% CAGR to reach a value of US$3,882.9 mn by 2025 from US$1,967.2 mn in 2016 according to market research firm Transparency Market Research (TMR).
The three service segments in the global LED video walls market are installation, repairing and maintenance, and rental. Of them, the rental based service accounted for maximum market share of 53% in 2016. This is mainly because of the steep upfront cost involved in installing LED video walls. Another factor pushing up the demand in the rentals segment is the availability of customized or standard configurations video walls in various shapes and sizes which are required for many business events to display animation, presentations, full-motion video, still photos, and graphics at resolutions up to 1080p and 4K. The LED video walls provide a powerful digital canvass to articulate value proposition and entertain audiences.
From a geographical standpoint, Europe is a leading market and it held a dominant share of about 32.0% in 2016. The uptake of LED video walls in Europe has been mainly brought about by the increasing number of sporting events, live concerts, and corporate exhibitions.
As per the lead analyst of the TMR report, “LED video walls are the next generation technology in the LED display industry, which helps in improving customers’ experience with multi-monitor setups.” LED video walls are designed to withstand difficult outdoor conditions and provide high definition visuals. They can discharge more light than the conventional LCD video walls and digital sign boards. The aforementioned advantages have driven growth in the global LED video walls market.
Another factor stoking growth in the global LED video walls market is the availability of a variety of LED video walls having various customized sizes and resolutions and technologies for different applications to accord sharp visual and lasting viewing experience. This is expected to push up their demand among marketers and advertising agencies for carrying out promotional activities to reach out to customers.
Proving counterproductive to the growth in the global market for LED video wall is the steep initial cost of investment. However, with the growing technological advancements, low cost highly effective LED video walls will soon help to overcome the challenge and help the market to grow.
This review is based on the findings of a TMR report, titled, “LED Video Walls Market (Deployment Type – Indoor and Outdoor; Service Type – Installation, Repairing/Maintenance and Rental) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025.”
Transparency Market Research – www.transparencymarketresearch.com