LED Video Walls Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3421
LED Video Walls Market size is set to register lucrative gains in the coming years driven by its increasing applications in various sectors such as broadcast, defense, energy, and telecommunication. These systems have various benefits such as high contrast, brightness, durable, suitable shapes & sizes, and simple setup. The demand for these devices is rising due to the high implementation in outdoor advertising applications. High brightness and durability features in newly developed LED walls will promote their utilization in outdoor environments. Rapid development in the advertising sector and increasing promotional activities from various brands are fueling the LED video walls market growth. These walls are capable of displaying high definition content, increasing the usability in various application sectors including entertainment, commercial, etc.
High implementation and setup costs are some factors hindering the LED video walls market growth. The installation of these products is a complex process and requires skilled technicians to avoid damages. The cost of these devices is further increased due to the inclusion of a software such as, front face, video wall manager, polywall etc., which is used for the smooth functioning of the displayed content. Another factor affecting the LED video walls market is the high maintenance & repair costs associated with them. These video walls are available on a rental basis, reducing the initial purchase and maintenance cost for customers with low financial availability. Additionally, these devices have thermal instability, leading to inefficient functioning. Increasing technological developments, such as narrow pixel pitch technology, in the market will aid in overcoming challenges.
The LED video walls market is gaining popularity due to its increasing utilization in sports events, concerts, and promotional activities. A prominent feature which is creating high demand is the resistance against outdoor conditions such as rain, intense sunlight, etc. An upcoming trend in the market is the Narrow Pixel Pitch (NPP) LED, which is designed to deliver a smooth flow of information for 24/7 operations. Its expected lifetime is about 100,000 hours, which equals to more than 11 years of operation. Another trend in the industry is flexible LED panels, which allows displays to be curved, bend, and folded, further promoting its usage in integration with curved surfaces. High implementation of these walls in various environments such as indoor and outdoor is driving the market demand.
In the LED video walls market, outdoor deployment type models are gaining high traction owing to their applications in advertisements, sports events, concerts, award functions, and intelligent traffic systems. These video walls are used in indoor applications such as business presentations, indoor advertisements, and museum displays. Outdoor environments, such as malls, live concert & sports stadiums, and railway stations, utilize these devices for advertising purposes to attract the crowd. Features, such as durability, high brightness, and high image quality, support their sustenance in harsh outdoor conditions. Additionally, the rapid growth of the advertisement & promotion sector is due to increased competition within business enterprises, aiding the LED video walls market development. Increasing investments in sports events by government & private organizations have grown substantially leading to the adoption of technically advanced devices, such as video walls, drone cameras, etc., expanding the market.
The adoption of these video walls in broadcasting applications is increasing due to the rising importance of promotional activities & advertisements in the commercial sector in recent years. This is leading to the adoption of various platforms such as internet/digital, print media, and video walls, further driving the LED video walls market growth. The outdoor operability feature has led to the high adoption of these devices in broadcasting applications. These products are utilized in news channels for displaying real-time footage, images, and explanatory graphics, supporting the LED video walls market development. The rising popularity of various rock bands, singers, and dance groups has given rise to the concert culture, leading to high implementation of video walls to enhance the audience experience. The increasing popularity of various sectors, such as events & advertising, have fueled the market.
The North American region is expected to grow in the LED video walls market owing to high adoption of technically advanced solutions for broadcasting, surveillance & security, defense, and data monitoring. The U.S. national defense authorization has increased its defense spending by 2.4% in 2019, further increasing the demand in the defense sector. The walls are used in military operation centers to display information from multiple sources and alert officials regarding suspicious activities. China, South Korea, and Japan are witnessing growth in manufacturing activities due to the presence of several key players in this region. Moreover, the growth of various industries including advertisement, broadcast, and defense in this region is driving the market expansion.
The key players operating in the LED video walls market include Koninklijke Philips N.V., Samsung Electronics Co. Ltd., Delta Electronics Inc., Planar, DynaScan Technology, Inc., Daktronics, Inc., LG Display Co. Ltd., Delphi Display Systems, Inc., Toshiba Corporation, and Electronic Displays, Inc. These players are focusing on merger & acquisition activities and partnerships and are highly investing in R&D to develop innovative products to strengthen the product portfolio and gain a competitive advantage. For instance, in June 2018, Daktronics announced the acquisition of AJT Systems, which will help the company to expand its offering for sports and interactive applications. In May 2019, Samsung Electronics Co. announced its strategic participation in the InfoComm Southeast Asia to strengthen and continue its digital signage leadership in the region. The company also announced the launch of 82’’ QLED 8K LED video wall display. Such innovations and advancements from key players are boosting the LED video walls market growth.
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