Three major logics for the future growth of the LED display market

November 8, 2024

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Affected by factors such as government budget, price competition, and technology competition, domestic LED display market demand will be average in 2024, but overseas markets will continue to grow. Among them, the European and American markets will maintain steady development, and the Asia-Pacific region (especially Southeast Asia and the Middle East) will perform better. good. In the long term, the LED display market will continue to grow. The main growth logic includes:

latest company news about Three major logics for the future growth of the LED display market  0

  • Expansion from developed economies to non-developed economies.

China is the global manufacturing base of LED displays and the birthplace of LED displays. In the first stage, the development of the Chinese market into the markets of overseas developed economies has been completed. As the cost of LED displays continues to decrease, the market has entered the second stage and will continue to expand to non-developed economies.

  • Expand from government and large enterprise customers to small and medium-sized customers.

After more than 20 years of development, the price of the LED display industry has continued to decline, the customer base has gradually expanded, and the market is developing from to G to to B, and may expand to to C in the future.

 

From a manufacturer's perspective, the proportion of distribution sales models has been increasing in recent years, and the market demand for channel LED displays has begun to grow. Manufacturers are also actively adjusting their business strategies, arranging channel markets, and establishing Chinese and global distribution systems to cover a wider range of customer groups.

  • Expand from traditional applications to emerging applications.

Traditional applications mainly include corporate meetings, security monitoring, retail exhibitions, public areas, transportation and outdoor advertising, etc. With the emergence of Micro/Mini LED technology, the application scenarios of LED displays continue to increase, such as LED all-in-one machines, virtual shooting, and cinemas/home theaters. There is still significant room for growth in the future.

 

The global LED display market size is expected to reach US$7.516 billion in 2024 (+2.8% YoY), and is expected to increase to US$10.2 billion by 2028, with a compound growth rate of 7% from 2023 to 2028.