Large Format Display Global Market Report 2024

The global large format display market has grown strongly in recent years. It will grow from $13.57 billion in 2023 to $14.76 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth observed in the past period can be credited to the evolution of digital signage, heightened demand for interactive displays, expanded utilization in outdoor settings, increased integration within healthcare, and widespread adoption in retail and e-commerce sectors.

The global large format display market is expected to see strong growth in the next few years. It will grow to $20.46 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. Anticipated growth in the upcoming period is expected to stem from a focus on energy efficiency and sustainability, heightened demand within the gaming and entertainment sectors, initiatives driving smart city development, increased adoption within healthcare and wayfinding applications, and the surge in remote work solutions. Key trends projected for this period encompass the integration of AI and IoT technologies, advancements in remote collaboration solutions, incorporation of augmented reality (AR), and the prominence of outdoor and high-brightness displays.

The expanding applications of digital signage are poised to drive the growth of the large format display market in the future. Digital signage denotes technologies used to present digital content on large format displays like video walls. These displays are pivotal in interactive meeting rooms, presentations, and digital signage applications. For instance, a report by Scala, a US-based firm specializing in tailored digital signage across various sectors, highlighted that around 73% of global educational institutions perceive digital signage as the future of communication in modern education, fueling the surge in digital signage applications and subsequently, the growth of the large format display market.

Anticipated growth within the retail industry is expected to propel the expansion of the large format display market in the foreseeable future. The retail sector encompasses businesses engaged in selling goods and services to end consumers. Liquid crystal displays (LCDs) play a vital role in enhancing customer experiences, streamlining operations, and boosting sales in retail. The sector's growth has spurred the demand for LCDs, leading to technological advancements and diverse applications. For example, in August 2023, the US Census Bureau reported a 2.1% increase in US retail e-commerce sales for the second quarter of 2023, reaching an estimated $277.6 billion, contributing to a total retail sales estimate of approximately $1,798.2 billion. This growth trajectory within retail is a significant driving force for the large format display market.

Product innovation emerges as a prominent trend gaining traction in the large format display market. Leading companies in this sector prioritize research and development to introduce innovative display solutions for commercial use, aiming to solidify their market presence. For instance, in December 2021, Lenovo Group Limited, a China-based electronics manufacturing company, unveiled its advanced large format display integrated with cutting-edge system-on-a-chip (SoC) technology under the ThinkVision brand. These displays boast features like customizable android operating systems, built-in apps for personalized video playback, touchscreen capabilities, wireless connectivity, and an integrated smart whiteboard feature for collaborative use, reflecting a drive toward innovative solutions in the market.

Major players in the large format display market are rolling out new technologies and advanced products, such as quantum dot technology, to maintain their competitive edge. Quantum dots, nanoscale semiconductor particles, have sizes typically ranging from 2 to 10 nanometers. For instance, in November 2022, Samsung Electronics Co., a South Korea-based electronics giant, launched the Samsung (QD)OLED S95B and Odyssey (QD)OLED G8 gaming monitors employing state-of-the-art quantum technology. These monitors offer enhanced color performance, richer contrast, and exceptional image quality through innovative self-illumination technology. The aim behind these advancements is to cater to diverse customer preferences and create personalized entertainment experiences using cutting-edge technology.

In October 2022, Watchfire, a leading US-based manufacturer specializing in electric signs, successfully acquired Anthem Displays LLC, the financial details of which remain undisclosed. This strategic acquisition aligns with Watchfire's objective to diversify and enhance its product line and services by integrating the offerings provided by Anthem Displays LLC, a reputable US-based company known for its expertise in manufacturing digital displays.

Major companies operating in the large format display market report are Samsung Electronics Co.Ltd., LG Corporation, Sharp Corporation, Leyard Optoelectronic, Sony Group Corporation, Barco NV, Panasonic Holdings Corporation, NEC Corporation, E Ink Holdings Inc., TPV Technology Co. Ltd., ViewSonic Corporation, Vtron Group Co., AUO Corporation, Deepsky Corporation Ltd., AOTO Electronics Co. Ltd., Unilumin Group Co., Prysm Systems Inc., Planar Systems Inc., Liantronics Co.Ltd., Shenzhen Absen Optoelectronic Co. Ltd., Mitsubishi Electric Corporation, Delta Electronics Inc., Daktronics DR., Christie Digital Systems USA Inc., BenQ Corporation, Associated Industries China Inc., Koninklijke Philips N.V., SigmaSense, Hisense Group, Dakco

North America was the largest region in the large format display market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the large format display market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the large format display market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Two primary types of large format displays include video walls and standalone displays. Video wall displays consist of a series of computer monitors, television sets, or video projectors arranged in a tiled multi-monitor setup to form expansive displays. These large format displays encompass various technologies such as LED backlit, OLED, and e-paper, serving applications in both indoor and outdoor environments. They find extensive use in commercial, infrastructural, and institutional settings for their diverse functionalities and versatility.

This report provides large format display market statistics, including large format display industry global market size, regional shares, competitors with a large format display market share, detailed large format display market segments, market trends and opportunities, and any further data you may need to thrive in the large format display industry. This large format display market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The large format display market consists of sales of 4K ultra-high-definition (UHD) TV, full high-definition (HD) TV, high-definition television (HDTV), and smart TV. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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