DUBLIN–(BUSINESS WIRE)–The “Large Format Display Market with COVID-19 Impact Analysis by Offering, Type, Technology (Direct-View LED, LED-backlit LCD), Size, Brightness, Installation Location, Application (Retail, Hospitality, Sports, Education), Region – Global Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The global large format display market size is estimated to be USD 13.1 billion in 2021 and is projected to reach USD 18.6 billion by 2026, at a CAGR of 7.2% during the forecast period.
The market has a promising growth potential due to several factors, including the high adoption of signage and interactive displays by end users from the commercial sector, technological innovations and advancements related to large format displays, surged demand for 4K and 8K high-resolution commercial-grade large-screen displays from the education, healthcare, and sports & entertainment verticals, and increased investments by emerging economies in real estate and public infrastructure development projects.
Service segment to project highest market growth during the forecast period
The services segment is projected to grow at the highest CAGR from 2021 to 2026 for the large format display market, by offering. The high market growth can be attributed to the rising need for display consulting and maintenance services for hardware devices and other services that are repeatedly required by customers throughout the operational life of digital display systems as these displays get adopted in several industries for multiple applications. Moreover, as more businesses understand the importance of large format displays as ideal digital solutions which could positively impact their business growth, the need for consulting services is expected to increase in the coming years.
Commercial segment is estimated to hold the largest market share in 2026
The commercial segment for the large format display market is estimated to hold the largest market share in 2026, by application. The growing adoption of large format display products for information broadcast, advertising, and promotions, and content delivery to increase the customer base and enhance consumer satisfaction in the retail, hospitality, corporate, healthcare, and government sectors is expected to fuel the demand for large format displays in commercial applications. Also, the growing use of digital technologies in retail outlets and command and control centers is expected to boost the market growth during the forecast period.
APAC is projected to become the largest geographical market by 2026
APAC is projected to register the largest market size of the large format display market by 2026. The speedy deployment of several macroeconomic policies; rising consumerism; rapid digital revolution, advancing wireless infrastructure; trade and economic integration, and increasing disposable income have accelerated the region’s economic and social growth. All these factors are expected to create a high-growth potential of digital displays in retail, transportation, public infrastructure, and corporate sectors.
Market Dynamics
Drivers
High Adoption of Signage and Interactive Displays by End-users from Commercial Sector
Technological Innovations and Advancements Related to Large Format Displays
Surged Demand for 4K and 8K High-Resolution Commercial-Grade Large-Screen Displays from Education, Healthcare, and Sports & Entertainment Verticals
Increased Investments by Emerging Economies in Real Estate and Public Infrastructure Development Projects
Restraints
Preference for Online Advertising and Digital Broadcasting Triggered by COVID-19
Availability of Low-Cost and Highly Reliable Substitute Technologies
Opportunities
High Adoption of Smart Signage Products Triggered by Spread of Coronavirus
Rapid Transformation of Retail Stores into Smart Digital Stores
Increased Deployment of Displays That Enable Contactless Engagement to Prevent Spread of COVID-19
Challenges
Designing Robust Large Format Displays Suitable for Outdoor Environments
Prevailing Security Issues Associated with Commercial Signage Displays
Companies Mentioned
AG Neovo
Aoto Electronics
Au Optronics
Barco Nv
Benq Corporation
Christie Digital Systems
Daktronics
Deepsky Corporation
Delta Electronics
E Ink Holdings
Leyard Optoelectronic
LG Electronics
Mitsubishi Electric
Panasonic Corporation
Prysm Systems
Samsung Electronics
Shanghai Goodview Electronics
Sharp Corporation
Shenzhen Absen Optoelectronic Co., Ltd.
Shenzhen Liantronics Co., Ltd.
Shenzhen Unilumin Group Co., Ltd.
Sony Corporation
TPV Technology
Viewsonic Corporation
Vtron Group Co., Ltd.
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