The global large format display market is projected to grow from USD 13.1 billion in 2021 to USD 18.6 billion by 2026; it is expected to grow at a CAGR of 7.2% from 2021 to 2026. The key factors fueling the growth of this market include the high adoption of signage and interactive displays by end users from the commercial sector, technological innovations and advancements related to large format displays, surged demand for 4K and 8K high-resolution commercial-grade large-screen displays from the education, healthcare, and sports & entertainment verticals, and increased investments by emerging economies in real estate and public infrastructure development projects.
The large format display market is dominated by key global established players such as Samsung Electronics, LG Electronics, Sharp Corporation, Leyard Optoelectronic, Sony Corporation, Barco, Panasonic Corporation, Shanghai Goodview Electronics, AU Optronics, ViewSonic, and Unilumin. These companies focus on adopting both organic and inorganic growth strategies, such as product launches and development, expansions, partnerships, joint ventures, and acquisitions to strengthen their position in the market.
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Samsung Electronics has been a market leader in the large format display market in 2020. The company has focused on designing and manufacturing large format display products of different designs, size, and configurations for various applications leading to its market growth. LG Electronics is another key player with a wide product portfolio of large format display products. The increase in the global adoption of digital signage displays for advertisement, branding, and broadcast of information by businesses and institutions in commercial and infrastructure sectors has led to their market growth globally. On the other hand, the ongoing technological advancements in the displays such as the development of fine-pixel pitch direct-view LED displays and transparent OLED displays have further boosted the market penetration of large format displays. These factors have together led to the market growth of these companies.
Samsung Electronics is among the largest conglomerates in the world, which was incorporated in 1969 and is headquartered in Seoul, South Korea. The company provides large format display solutions through Samsung Display solutions. It designs and manufactures various display solutions such as videowalls, standalone, outdoor and window-facing signage, interactive digital displays, general-purpose public information displays, and accessories.
The company has focused on the adoption of organic and inorganic strategies to cement its position as the market leader in the large format display market. This includes the various product launches and developments and acquisitions, which have been supported by several expansions, collaborations, and partnerships with businesses from across the world. For instance, in September 2020 Samsung announced its partnership with d’strict, a Seoul-based design company to offer groundbreaking new media art on Samsung’s SMART signage. The partnership will lead to the production of new media art pieces for potential customers of Samsung SMART signage and will showcase enhanced content on the latest display technology.
Another important player in the digital signage market is LG Electronics. LG Electronics is a global electronics company, which is a manufacturer, supplier, and distributor of consumer electronics devices, mobile communications, and home appliances. The Business Solutions division of the company offers a wide variety of large format displays such as video walls, ultra-stretch displays, outdoor displays, interactive signage, and standalone signage displays. The company outlines product development as one of the key practices for growing its digital signage business. For instance, in July 2020 LG launched its most advanced LED signage system, LSAA LED signage series. The new product offers giant screen performance, design and integration, and delivers a cable-less block assembly design.
Other major players in the large format display market are mainly focusing on expansions and partnerships along with new product launches to achieve continuous and sustainable development.
Large Format Display Market with COVID-19 Impact Analysis by Offering, Type, Technology (Direct-View LED, LED-backlit LCD), Size, Brightness, Installation Location, Application (Retail, Hospitality, Sports, Education), Region - Global Forecast to 2026
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