LED Video Walls Market size is predicted to account for significant valuation from 2021 to 2027 mainly ascribed to the rising product usage in various sectors including media and advertising for promotional activities and information broadcasting. Other application areas for LED video walls include retail stores and hospitals wherein these provide multiple screens and real time relevant content sharing and enhanced touchscreen interactivity to deliver flexible customer engagement.
LED video walls generally integrate a number of LED units in a single display panel. It also comprises multiple computer monitors, TV sets, or video projectors tilted or overlapped in order and developed to release more light than commercial-grade signs. The rising demand for these walls can be reasoned to potential advantages of using LED screens such as being environmentally friendly, durability, lower operational costs, increased energy efficiency, and less carbon footprint.
A surge in the latest technological advancements and subsequent integration in the video walls is expected to propel the market demand. Various companies have been working on developing LED video walls that cater well to the increasing trend in display technologies. For instance, Planar has recently launched an exclusive line of fine pitch LED video wall displays, dubbed Planar DirectLight Ultra Series. The product line is poised to deliver high resolution display experiences for unmatched visual performance globally.
However, factors like huge costs of installation of LED video walls and management would challenge the market growth over the coming years. Besides, the lack of professionals and required skills for proper installation would further hinder the growth trajectory.
Direct view LED video wall technology is gaining ground worldwide. This is due to the product’s ability to offer seamless images, brilliant optical characteristics, and scalability to any shape or size, which makes the video wall content look great from any angle.
Considering the deployment model, indoor LED video walls are speculated to gain traction across the overall market. Developed from surface-mounted LEDs, the indoor LED displays provide high resolution imagery and can be designed in diverse shapes, thus emerging as the go-to-technology for education, advertising, and entertainment indoors.
In the retail sector, indoor LED video walls are known to attract attention of the buyers through various marketing campaigns put up on the digital signage. According to Cisco, nearly 40% of shoppers revealed that LED video walls can apparently change what they buy owing to the information displayed close to the point of purchase.
Asia Pacific LED video walls market is anticipated to account for a considerable valuation over the forecast period. The growth is attributable to the extensive integration of interactive display units using VR and AR. Besides, rising number of outdoor sports and entertainment events in the region is further stimulating the demand for these displays. Retailers from countries like China, Japan, and India are highly inclined on deploying LED video walls to present digital information and innovative ads to attract more customers to stand the market competition.
Prominent players partaking in the global market include Samsung Electronics Co. Ltd. (Samsung Group), Planar (Leyard, Leyard American Corporation), Koninklijke Philips N.V., Toshiba Corporation, LG Display Co. Ltd (LG Electronics, LG Corp), and others.
These market vendors have been engaged in strategic initiatives like mergers and acquisitions, product developments, partnerships, and more to maintain a competitive edge in the global industry.
The coronavirus pandemic outbreak is projected to have a balanced impact on the outlook of market. The market is observing sluggish growth owing to the shortage in electronic components production and demand. However, the trend of work from home and online education is urging the growth of LED video walls for promotion and education of masses. Besides, various governments have been making use of these walls to broadcast crucial information regarding the testing centers and tips on being safe during the crisis.