Design flexibility and the ability to operate on low voltages and a wide range of operating temperatures are some of the key advantages associated with LED solutions. Fine pixel pitch LED displays are increasingly becoming popular in commercial settings due to their advantages such as greater energy efficiency, high quality, and high durability. Continuous research and development has led to the introduction of high-resolution fine pixel pitch LED displays that deliver superior image quality.
The fine pixel pitch LED display market is projected to be valued at US$3.1 bn by 2024, rising from US$677.1 mn in 2015. The market is estimated to expand at a strong CAGR of 15.8% during the forecast period from 2016 to 2024.
E-Commerce Emerges as Attractive Platform for Promotion and Sales
By sales channel, the fine pixel pitch LED displays market comprises retail shops, e-commerce websites, and direct sales. The direct sales segment is anticipated to hold the leading share in 2024 and e-commerce is expected to expand at a remarkable pace during the forecast period. Manufacturers of fine pixel pitch LED displays are focusing on international markets by promoting their products over e-commerce websites to a larger customer base.
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The applications of fine pixel pitch LED displays include broadcast screens, digital signage, control room and monitoring, and simulation and visualization. The control room and monitoring application segment is expected to be register a significant CAGR during the forecast period. Fine pixel pitch LED displays offer a higher resolution as compared to other display solutions and hence are anticipated to find high demand in monitoring applications such as control rooms.
Asia Pacific leads the global fine pixel pitch LED displays market due to the growing presence of LED display manufacturers in countries such as China, Japan, South Korea, and Taiwan. Asia Pacific accounted for around 59% of the total global fine pixel pitch LED displays market in 2015. Fine pixel pitch LED displays are witnessing increasing demand in retail stores, corporate offices, and shopping malls across Asia Pacific. The demand from sporting events is further fuelling the demand for fine pixel pitch LED displays in the region.
North America represents high market attractiveness as compared to other regions. Increasing spending on digital display advertising and out-of-home advertising by most of the major brands in the U.S. and Canada is a key factor driving the growth of fine pixel pitch LED displays in the region.
The Middle East and Africa (MEA) and Latin America are likely to present potential opportunities for fine pixel pitch LED displays in the coming years. The rapid growth in tourism in MEA has aided the hospitality sector and leading players are emphasizing on digital advertising for events and promotions. The 2016 Olympics in Rio de Janeiro, Brazil and other upcoming major sporting events are anticipated to foster the growth of fine pixel pitch LED displays in Latin America.
Key players operating in the fine pixel pitch led display market include NEC Display Solutions, Ltd., Leyard Optoelectronic Co. Ltd., Shenzhen AOTO Electronics Co. Ltd., Panasonic Corporation, SiliconCore Technology, Inc., PixelFLEX LED, NanoLumens, Inc., Christie Digital Systems USA, Inc., Unilumin, Shenzhen Absen Optoelectronic Co., Ltd., Daktronics, Inc., and Barco.