Rising Demand from Media Industry to Fuel Growth of LED Video Walls Market
Digital signage is great for engaging customers and boosting sales. As powerful as digital signage can be, however, we can’t beat the impact of a video wall. A wall made up of many displays that work together as a cohesive unit to display content; deployed mostly in a TV studio or control room, a shopping mall, an airport, or at a large sports stadium or entertainment venue. Although some video walls are hundreds of feet high and wide, they can also be used to create impact in smaller venues where people view displays up close. LED technology is used for video walls because each LED display can generate sharp, bright images. Instead of relying on backlit images, LEDs produce their own brightly lit images and deliver the best refresh rates of any video wall technology. Also, LEDs don’t get hot or burn out, which makes LED video walls very efficient, durable, and long-lasting. The growing use of LED video wall displays in the media and advertising industries is propelling the worldwide LED video walls market forward.
Global revenue from the media and advertising industries is expected to fall to 622 billion US dollars in 2020, a 3.1 percent decrease from the previous year. As LED video walls market recovered from the effects of the coronavirus, the figures increased by 22.5 percent in 2021. Moreover, rising tourism is one of the major factors driving global LED video walls market. These walls when used for transportation serve an important purpose in keeping crowds informed, hence their use is increasing which further drives the growth of the global LED video walls market. For example, in January 2020, a Philips video wall was placed in the cruise liner terminal in Zeebrugge, Belgium. This port handles about 150 cruise arrivals and departures per year, and the video wall helps keep guests informed about their departure and other information.
Growing demand for digital material and information relevant to travellers has resulted in interactive commercials via a video wall, which has accounted for a large portion of the growth in transportation media revenues. In the foreseeable period, this is expected to drive the LED video walls market. Companies see this as an opportunity, and suppliers are developing new goods or forming alliances to gain a competitive advantage. At the curbside, check-in, Automated People Mover (APM) Grand Hall, and in way-finding spots throughout the APM and North Terminal, airports such as Orlando International Airport placed a 700-display video wall that displays dramatic video material and automatically updated flight information. This aided in providing passengers with useful visual content.
LED video walls market is projected to be fuelled by a surge in the latest technical developments and their subsequent incorporation into video walls. Several businesses have been working on producing LED video walls to meet the growing demand for display technology. Planar, has just released the Planar DirectLight Ultra Series, an exclusive series of fine pitch LED video wall displays. The product line is on track to deliver high-resolution display experiences with unrivalled visual performance around the world. In January 2020, a video wall was put in a newly opened Apple shop in Stamford to attract more consumers.
Increasing Demand for LED Video Walls in Outdoor Activities to Drive Market Growth
The outdoor segment of the LED video walls market is predicted to dominate, owing to high demand for LED video walls from industries such as education, BFSI, sports, and retail. An outdoor LED video wall is utilised for vehicle consoles in the automobile industry and gives the vehicle a more appealing appearance. As a result, LED video walls are quickly becoming a necessary component or accessory in the automobile and transportation industries. Outdoor LED displays and outdoor TVs have a wide range of uses in the education sector, including message boards for campus events, campus directories or wayfinding, conference alerting systems, and time and weather information. Outdoor LED video walls are built to last and offer a high level of brightness. These walls contain outdoor displays with features such as energy savings, high brightness, finer pixel pitches for outdoor use, water resistance, and so on.
Increased Market Innovation in North America to Drive Growth of LED Video Walls Market
Asia Pacific region is one of the fastest growing and most inventive marketplaces, owing to changing consumer preferences and increased market innovation. The expansion can be attributed to the extensive integration of interactive display units utilising VR and AR. The growth of the LED video walls market in this region is being driven by various factors such as interactive multi-screen technology with high-quality displays, an increase in demand for large size displays across the entertainment and gaming industries, rapid digitalisation, and strengthening internet connectivity, and ease of data and content management. According to Zenith's Advertising Expenditure study, the APAC region is also predicted to become the largest contributor to the global ad spend market, accounting for 33.8 % of the worldwide market by 2020, up from 32.6 % in 2017. This is predicted to have a beneficial market impact.
The growing number of outdoor sports and entertainment events in the region is increasing the demand for these displays. Retailers in China, Japan, and India are particularly interested in deploying LED video walls to provide digital information and unique advertisements to attract more customers and compete in the market. In November 2019, Barco NV has announced a collaboration with six new partners in the Asia Pacific area to supply its display technology in the healthcare sector. SigmaJones AV in India, Heytech in Thailand, GET Medical in Taiwan, MedEqual in the Philippines, Cetech in Vietnam, and Rutledge AV in Australia are among the partners. Barco NV hopes to increase its position in the Asia-Pacific area through these collaborations.
North America is expected to grow at a significant rate in the LED video walls market during the forecast period. Organizations are now using video walls to engage with their consumers in novel ways. They are being installed in public places such as museums, retail establishments, stadiums, and public transportation. It is projected to fuel the need for LED video walls in the next years. Because of the numerous potentials in the region, several multinational corporations are increasing their footprint through product launches or strategic alliances. In January 2020, LG Business Solutions USA introduced two new 55-inch LCD video wall panels with a 0.44 mm bezel for practically seamless video wall installations, as well as a new inbuilt smart calibration tool that cuts maintenance and installation time by 97 percent.
Global LED Video Walls Market: Competitive Landscape
Companies in the market are introducing new products alongside initiation collaborations, alliances, and partnership agreements. In April 2022, Planar, an Oregon-based visualization technology vendor, announced plans to prepare a diverse portfolio of upcoming broadcast technologies for NAB 2022. The company will demonstrate cutting-edge advances for broadcast production demands. It will include everything from cutting-edge fine pitch LED display systems for in-camera virtual production to cutting-edge motion capture (Mocap) solutions for fine camera tracking. NAB 2022 is also the first NAB show since Planar Studios debuted in 2021. On the other hand, in March 2020, LVD5521B was introduced by Barco NV. With this release, the company has expanded its product options in the video wall area. Control rooms, broadcast studios, corporate lobbies, experience centres, meeting rooms, and other signage applications can all benefit from this LED video wall.
A few of the players in the LED video walls market include Toshiba Corporation, Electronic Displays, Inc., Samsung Electronics, ViewSonic, Panasonic Corporation, Leyard Optoelectronic Co., Ltd., Shenzhen Unilumin Group Co. Ltd., Planar Systems, NEC Corporation, LG Electronics, Daktronics Inc., Barco NV, Delphi Display Systems, Inc., Shenzhen Dicolor Optoelectronics Co Ltd., and Lighthouse Technologies, Ltd.
Global LED Video Walls Market is Segmented as Below:
Key Elements Included In The Study: Global LED Video Walls Market
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