LED Display Market Seeing Double-Digit Growth, But LCD Market Still Has Life: Omdia
May 2, 2023 by Dave Haynes
The research firm Omdia expects the LED video display market to grow at a 12.1% CAGR clip over the next three years, but notes there is still plenty of life left for at least some aspects of the LCD public display market because of the cost delta between fine pitch LED and LCD.
From Omdia’s latest Public Displays Market Tracker:
The industry’s constant hunger for innovation will increase LED video displays market size growth to be worth nearly $11bn by 2026 (2022 – $5.3bn). This translates to 2.7 million sqm shipped worldwide with a 12.1% GAGR growth through 2026, with China, North America, and Asia & Oceania, leading the growth.
However, based on Omdia’s latest ProAV Vertical Market Tracker, LCD video walls remain popular in most application verticals such as retail, control room, conference room, transportation, and education signage.
Undoubtedly, the momentum is swinging full force in LED public displays’ favor. However, it does not signify the immediate end-of-life for LCD public displays, particularly video walls and IFP/touch displays which are still dominant in certain markets due to affordability.
Among the top three largest market for high-brightness LCD public displays, Asia & Oceania is expected to see the highest CAGR growth at 14.3% through 2026. Western Europe, the largest market in this aspect, is forecasted to experience a 6.1% CAGR growth, followed by North America at 3.5% CAGR.
Table 1: Estimated High-brightness LCD public display shipments (2022 – 2026)
Source: Public Displays Market Tracker, Country-Level – History + Forecast – 4Q22, Omdia
Based on Omdia’s latest Public Displays Market Tracker, Asia & Oceania reported 7,784 units of high-brightness LCD public displays in 2022. This figure is set to double in 2026 with an estimated shipment of over 15,000 units. Western Europe and North America shipments are expected to reach 50,000 and 60,000 units in 2026.
However, Omdia forecasts the market dominance for these two powerhouse regions to shrink to 37% (2022 – 41.8%) and 30% (2022 – 38.3%) respectively in 2026. In contrast, Asia & Oceania will see its market share grow from 7% in 2022 to 9% in 2026.