Opportunities And Challenges Of Global LED Display Market

• Market growth logic 1-Expanding from developed economies to non-developed economies

China is the global manufacturing base for LED displays and the birthplace of LED displays. The first stage is to develop from the Chinese market to overseas developed economies, and markets such as Europe and the United States are already very mature. The continuous decline in the cost of LED displays has pushed the regional market into the second stage, expanding from developed economies to non-developed economies.

• Market growth logic 2-Expanding from government and large corporate customers to small and medium-sized customers

The continuous price decline has driven the expansion of the LED display customer base, from the to G market to the to B market, and may enter the to C market in the future. From the perspective of manufacturers, the proportion of distribution models has continued to rise in recent years, and the market demand for channel-based LED displays has gradually increased. Manufacturers are also strengthening channel layout, building a distribution system in China and even the world, covering a wider customer base.

• Market growth logic 3-Expanding from traditional applications to emerging applications

Enterprise conference space is still the largest application scenario for LED small-pitch display screens, followed by retail and exhibitions. Security monitoring has a large demand in the Chinese market. At the same time, emerging applications such as all-in-one machines, virtual shooting, home theaters, and cinemas have also shown a rapid development trend in recent years. Although the current scale is small, there is huge room for future growth.

Among them, in the movie screen market, there are more than 200,000 movie screens in the world, including more than 30,000 high-end screens. In 2024, China will have more than 60 LED movie screens, and future growth is expected to accelerate further. At present, the cost of a 10×5 meter 4K LED movie screen has dropped to about 1 million yuan, and the market potential is huge.

In the LED rental screen market, live events (concerts, election events, etc.) drive the rental market demand, and the LED display rental market size will have the opportunity to reach US$1.596 billion (+13% YoY) in 2024. As the price of LED screens declines, the market popularity increases, and various live events are driven to use more LED rental screens to achieve cooler on-site effects and meet visual needs; coupled with the filmization of concerts pushing up the specifications of LED rental screens, it is estimated that rental screens will show a steady growth trend in the future.