Global LED video display area shipments are set to reach 1.1 million square meters in 2019, up from 800,000 in 2018. This follows shipment growth of 83 percent in 2018. The market research firm forecasts revenue this year to reach $5.1 billion, compared to $4.8 billion last year, and it anticipates that by 2023, area shipments will expand to about 2 million square meters and $7.5 billion in revenue.
“LED video display technology is rapidly replacing front projectors in large venues,” explains Tarika Bheda, research and analysis associate director at IHS Markit.
“The technology is also aggressively competing with LCD videowalls in indoor applications, such as command-and-control rooms and premium conference rooms. In addition to declining cost, lifespan, size scalability and seamless image display are the main factors driving the increasing adoption of LED video technology.”
Nearly 50 percent of LED video displays shipped this year will be installed in indoor applications, with the 2-to-4.99mm pixel-pitch category dominating the market.
“Pixel-pitch innovations and price erosion are continuing to make LED video-display technology more affordable for indoor applications,” Bheda notes.
IHS Markit predicts the 2-to-4.99mm pixel-pitch category will grow to a 52 percent share of the global LED video display market in 2023, up from 40.0 percent in 2019. During the same time period, the share of the smaller-than-or-equal-to 1.99mm pixel-pitch category will expand to 13 percent, up from 9.0 percent.