According to Reseach and Markets Reports, The large format display (LFD) market was valued at USD 9.51 Billion in 2016 and is expected to reach USD 14.93 Billion by 2023, growing at a CAGR of 6.7% between 2017 and 2023. The market is analyzed for non-consumer displays, which offer additional features for operation in commercial, infrastructural, and industrial applications.
The increasing innovation in direct-view fine-pixel LED displays and their technological advantages are driving the growth of the LFD market. The market is also driven by factors such as availability of highly bright HD LFDs offering better stability, flexibility, sustainability, and environment resistance; increasing demand for brighter and power-efficient LFDs in several applications; and increased applications for digital signage.
The market is segmented into video walls (tiles of any size) and standalone displays (more than 32 inches). Video wall displays contributed a larger market share in 2016 and are expected to witness a higher growth rate than stand-alone displays. The growing awareness among customers regarding the benefits of video walls has drastically increased their adoption rate worldwide.
LCD displays held the large market share in 2016, and the trend is expected to continue during the forecast period. However, this market share is expected to decline rapidly owing to the growth of direct-view fine-pixel LED technology. Currently, large-pixel LED displays are widely used in various outdoor applications, and with the high adoption rate of fine-pixel LED displays, both fine-pixel, and large-pixel direct-view LED displays would hold a larger market share by 2023, surpassing the LCD technology.
Commercial industries held the largest market share in 2016 because of the rising installation large format displays in malls and shopping centers. However, infrastructural industries are expected to drive the growth of LFD market during the forecast period. Direct-view fine-pixel LED displays are expected to have a high demand for transportation, public places, sports, and entertainment venues during the forecast period. LFD players will find various opportunities in untapped and emerging applications in industrial manufacturing, BFSI, and education, industries.
North America, being technologically advanced and developed, is a leading market for cutting-edge display technologies such as direct-view LED and OLED and held the largest share of the market in 2016. The market in APAC is expected to grow at the highest rate due to the presence of major display panel manufacturers and various brand product manufacturers in the region. The market for newer and high-cost displays, such as OLED and fine-pixel LED, is expected to grow at a higher rate in North America, whereas low-cost displays, such as LCD and large-pixel LED, would witness higher growth in APAC and RoW.