New Arrival! TrendForce 2024 Global LED Video Wall Market Outlook and Price Cost Analysis- To Infinity and Beyond

The LED video wall market in China has recovered slower than expected in 2023 following the country’s reopening. Compared to the low point in 2022, however, the end-market demand shows an upward trend overall, particularly the demand in the Corporation & Education, Broadcast, and Retail & Exhibition sectors. North America is booming, with demand in the outdoor display, retail & exhibition, and virtual production sectors being major contributors for the growth momentum. Hit by the Russia–Ukraine war and soaring inflation, demand in Europe is returning slowly. Following the rapid growth in 2022, emerging markets across Asia, Africa, and Latin America continue to see strong demand entering 2023. Overall, TrendForce forecast that the global LED video wall market value will increase to USD 7.564 billion in 2023.

Indoor Display: Demand for high-resolution and HDR products has contributed to stable sales growth in LED video walls for corporation and education spaces, virtual productions, home theaters, and cinemas. In addition, Micro LED transparent displays are highly suitable for retail stores and cultural spaces (e.g. galleries, museums, aquariums) as well as the hospitality industry as a tool for product exhibition.

Outdoor displays are mainly used for advertising, transportation, sports venue events, and live events. Driven by the turnaround of market demand situation in Europe and the US, LED outdoor display applications like Live Events & Sports and Education still enjoys steady growth in 2023. Additionally, glasses-free 3D LED displays will mostly be applied to creative signage advertising. 3D advertising videos can create stunning visual experiences for audience.

Global LED Fine Pitch Display Market Scale
As TrendForce analyzes, the demand for LED video walls in China has gradually recovered in 2023, along with continual increases in the penetration of LED fine pitch displays across North America, Europe, and Asia. Additionally, the Corporation & Education, Virtual Production, and Retail sectors has continued stimulating the demand for such displays. As more players entered the LED fine pitch display market, plus competition between display techniques, product prices have declined faster than expected. TrendForce estimated an increase in the global LED fine pitch display market value for 2023 to USD 4.506 billion.

Virtual Production Market Trend
The global LED video wall market value for virtual production is likely growing to USD 394 million in 2023, according to a TrendForce analysis. However, their growth momentum will weaken year by year for two reasons. First, the world is returning to normal from the COVID-19 pandemic, reducing the necessity of virtual production LED displays. Another reason is that the cost of LED video walls for virtual production remains relatively high, while the associated industry chain elements such as hardware, software, and content creation must develop simultaneously. An improvement of merely LED display specifications can hardly stimulate rapid industrial growth. In the long term, as more firms enter the virtual production LED video wall market with the increasing maturity of peripheral supply chain, virtual production will be further expanded to the production of movies, TV programs, TV series, music, and advertisements.

General background displays mostly come with a pixel pitch of >P2.1 for cost concerns, such as P2.3, P2.6, and P2.8. By contrast, high-end production studios tend to adopt P1.2-P1.6 Mini LED displays to fulfil requirements of high brightness, high-performance display, and close-ups. P2-P4 are used for floor display, in order to create strong immersive experiences, Mini LED video walls are requested. The pixel pitch specs of ceiling displays are P3.9-P6, emphasizing high brightness. Adopting Mini LED video walls with common-cathode driver ICs helps enhance brightness (+30-40%) and display performance (wide viewing angle, high contrast without moiré patterns); the energy efficiency can be up to 50%-60%.

All-in-One LED Display Market Trend
All-in-One (AIO) LED displays are controller-integrated standardized products, mainly applied to corporate meeting rooms, event, retail and exhibition, lecture halls, control rooms, gaming events, and even home theaters. According to TrendForce’s analysis, All-in-One LED display is expected to maintain growth in large-scale companies’ meeting room and retail display markets in 2023, with a 14% increase in shipment.

≤P1.0 Ultra-Fine Pitch Display Market Trend
According to TrendForce, the ≤P1.0 ultra-fine pitch display market scale is estimated to reach 10% YoY in 2023 and main applications include Security & Control Room, Corporation & Education, Entertainment & Cinema. ≤P0.625 and P0.7-P0.8 LED video walls are projected to hold a penetration rate of up to 37% totally in 2023.

Micro/Mini LED Video Wall Market
Samsung, MTC, BOE, Unilumin, and Hongli have been planning to expand production, with the total capacity likely to reach 30,200 m2/M by the end of 2023.
As Micro/Mini LED technology steps forward year by year, it’s forecast that the Micro LED video wall market scale will reach USD 406 million, and that of ≤P0.625 and P0.7-P0.8 Micro LED video wall will amount to USD 349 million in 2027; the Mini LED video wall market scale is expected to reach USD 1.847 billion, and Mini LED is anticipated to enter P1.2 and ≥P1.5-P1.6 LED video wall markets in 2027.

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. Samsung’s 89-inch Micro LED TV was launched in May 2023 and was available first in China. It is expected that the 101-inch 4K P0.51 model will also be available in 2H23.

TrendForce’s analysis focuses on 2024 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/Mini LED / ≤P1.0 ultra-fine pitch display markets, etc. TrendForce aims to provide readers with a comprehensive understanding of marketing and sales in the LED video wall market.