The LED video wall (Finished Product) market has weakened overall due to the ongoing Russia–Ukraine War and soaring inflation, while LED video wall manufacturers will pay more efforts to promote ≤P1.0 ultra-fine pitch displays to enter the high-end market and stabilize corporate revenue. Opportunities for the LED video wall market include corporation and education scenarios, home theaters, virtual production, retail, rental and events, sports, and government bids. In 2H22, the Chinese government will continue adopting the lockdown strategy against COVID-19 outbreak, but it is also expected to propose economy-related stimulus packages to drive up market demand. Overall, the LED video wall (Finished Product) market value is likely to slightly rise in 2022, reaching USD 7.229 billion (+6% YoY). Nevertheless, the North American and European markets, where borders have been reopened plus economic bounce backs, have still witnessed a growth rate higher than the average in 2022
Indoor Display: Demand for high-resolution and HDR products has contributed to stable sales growth in video walls for corporation and education spaces, cinemas and home theaters, and virtual production. In addition, transparent displays in retail stores can bring a “beyond imagination” visual feast for all the shoppers.
Outdoor displays are mainly used for advertising, transportation, sports venue events, and live events. According to TrendForce, the Chinese government will continue implementing the “Thousands of Displays in Hundreds of Cities” campaign. Additionally, glasses-free 3D LED displays will mostly be applied to creative signage advertising. 3D advertising videos can create stunning visual experiences for audience and leave them a deep impression, which can be seen in the US, South Korea, and China, thereby stimulating the market demand for outdoor displays.
Global LED Fine Pitch Display Market Scale
As TrendForce reported, the market value of LED fine pitch displays will be USD 4.232 billion in 2022 (+12% YoY). As the demand for LED fine pitch displays in Europe and the US bounced back robustly, growth in the corporation & education, retail & exhibition, and entertainment & cinema sectors has been particularly strong with a boost of 14%, 13%, and 41%, respectively. The all-in-one LED display was successfully introduced to applications for corporation & education scenarios in 2020-2021, so this sector is likely growing steadily in 2022. Virtual production and home theater applications have contributed to growth in the entertainment & cinema segment, of which the market share will reach 7.2%.
Virtual Production Market Trend
According to TrendForce’s analysis, the LED video wall market scale for virtual productions came to USD 283 million in 2021 (+136% YoY). Virtual production has two major applications: (1) movie production; and (2) TV shows, theater performances, music videos, and commercials. Substituting a green screen with an LED video wall can significantly reduce both the time needed for post-production and the cost of video production. Moreover, an LED video wall can create an immersive background environment, which is beneficial for the performances of the actors and the director. Due to these advantages, the adoption of LED video walls for virtual productions is growing.
With an emphasis on HDR, HFR, and high grayscale images, virtual production, as an emerging niche market, demands for displays of high picture quality, detailed color reproduction, and great smoothness. LED video walls are mainly used as background, floor display, and ceiling displays. The specifications of the LED video walls used in virtual productions depend on the requirements of the scenes and the budgetary constraint. Background displays for high-end virtual production require high brightness (>1,500 nits), high resolution (P1.2-P1.6), high grayscale (16 bits), high refresh rates (3,840 / 7,680 Hz), and high frame rate (60 fps). A gamut range of DCI-P3 is preferable.
All-in-One LED Display Market Trend
All-in-One (AIO) LED displays are controller-integrated standardized products, which are slimmer (avg. 3–5cm in thickness), emphasize on-site modularization enabling quick installation, and can be installed and testing within 1-2 hours. All-in-One LED displays feature an aspect ratio of 16:9, a size ranging 110–220 inches, a pitch pixel of P1.2–P2.5, and FHD resolution, and can be portable, wall mounted, or floor-standing. AIO LED displays are mainly applied to corporate meeting rooms, event, retail and exhibition, lecture halls, control rooms, gaming events, and even home theaters. Major manufacturers include MaxHub, Leyard, Absen, CLT and Unilumin. Samsung unveiled The Wall All-in-One at ISE 2022 in three models, including 146-inch 4K P0.84, 146-inch 2K P1.68 and 110-inch 2K P1.26, being available globally now.
≤P1.0 Ultra-Fine Pitch Display Application Market Analysis
TrendForce reported the ≤P1.0 ultra-fine pitch display market, with an increasing number of new players, was valued at USD 251 million in 2021.Top five players were Leyard, Unilumin, Samsung Electronics, Ledman, and HCP, totaling a 74% share of market sales.
Regarding AM solutions applied to large splicing displays, LTPS (side wiring) have been adopted in ≤P0.625 LED displays. A challenge facing the side wiring technology is that width between interconnected metals becomes increasingly narrower, resulting in greater electrical impedance plus obvious IR drop. Therefore, circuit design must be improved. Moreover, tiling line processing, tiled surface flatness, color uniformity, and cost control have been the major challenges on product development.
TrendForce’s analysis focuses on 2023 LED video wall market outlook and application market trends; major LED video wall players’ revenue and product development; LED video wall price and cost analysis; suppliers’ technology and product specification cost development of the Micro LED / Mini LED / ≤P1.0 ultra-fine pitch display markets; LED video wall sales channel analysis, etc. TrendForce aims to provide readers with a comprehensive understanding of marketing and sales in the LED video wall market.
