The global large format display (LFD) market witnesses continual growth. The market rise attributes to the increasing demand and adoption of LFDs in consumer appliances and home appliances worldwide. Besides, rising sales of LFDs in healthcare, retail, sports, and entertainment sectors drive the growth of the market. Substantial R&D investments by industry players in the development of display technologies boost the growth of the market.
Furthermore, the increasing demand from various industry verticals like healthcare, education, corporate, government, and others escalates market growth. According to Market Research Future (MRFR), the Large Format Display Market is poised to garner exponential value by 2027, growing at an impressive CAGR during the review period (2020 – 2027).
Also, the increasing adoption of these displays in commercial digital signage used in museums, retail environments, large offices, and others is one of the major large format display market trends. LFDs, due to their many advantageous features and capabilities useful for 24 hours operation, expand the size of the market. Additionally, the increasing demand for consumer electronics substantiates the growth of the market.
The growing need for sophisticated display controllers in teleconferencing in order to establish hassle-free communications pushes the market value further. The rising trend of teleconferencing that is run at different places and can communicate through conference calls creates substantial market demand. The growing adoption of interactive displays is another major factor driving the growth of the market.
Players leading the global large format display market include Samsung Electronics Co., Ltd. (South Korea), Leyard Optoelectronic Co., Ltd. (China), LG Display Co., Ltd. (South Korea), Sony Corporation (Japan), Barco NV (Belgium), NEC Corp. (Japan), TPV Technology Ltd. (Hong Kong), View Sonic Corporation (U.S.), and Sony Corporation. (Japan), among others.
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Large Format Display Market – Segmentation
The report is segmented into display types, end-users, components, and regions. The display type segment is sub-segmented into standalone displays and video walls. The component segment is sub-segmented into displays, accessories, controllers, mounts, and others.
The end-user segment is sub-segmented into entertainment, retail, sports, education, government, transportation, BFSI, infrastructure, healthcare, and others. The region segment is sub-segmented into Americas, Europe, Asia Pacific, and the Rest-of-the-World.
Large Format Display Market – Regional Analysis
North America dominates the global large format display market. The largest market share attributes to the rising investments in developing display technologies. A technological product is a potential market for cutting-edge technologies.
Besides, the growing implementation of these displays in the healthcare sector drives the large format display market size. The low operational cost that LFDs offer is a major driving force increasing its uptake in various industries.
The Asia Pacific region stands second in the global large format display market. Factors such as the increased demand for LFDs and consumer electronics in the region substantiate the market growth. Additionally, the spurring rise in the manufacturing sectors and implementation of technological solutions boost the growth of the large format display industry in this region.
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