LED Displays Now A $9B Global Market; Biggest Sales Growth Now In Americas: Futuresource

October 8, 2024 by Dave Haynes

The research firm Futuresource Consulting has pushed out a new fee-based report about the global LED display market, suggesting it expanded by more than 6% in 2023 and hit sales of $9.0 billion.

In a summary of the report, Futuresource says the APAC region (including China), is the most active market, representing almost two-thirds of the global market in 2023. But APAC also had slower growth, with the Americas pegged as the fastest-growing region in 2023. EMEA, the report says, has also seen accelerated growth.

“We’re seeing the continued ascent of Ultra Narrow Pixel Pitch,” says Ted Romanowitz, Principal Analyst for LED at Futuresource. “Last year it increased by more than a third to capture over 5% of the overall global LED market. The technology will continue to accelerate, breaking the billion-dollar barrier in 2025, and powering on to more than double in value between 2025 and 2028. 

I’m not sure what constitutes ultra narrow, but thinking sub 1mm.

“Narrow Pixel Pitch is also shining bright, growing by 6% last year to capture more than half of the overall LED market,” adds Romanowitz. “We expect NPP to continue to perform, capturing a few more percentage points of share by 2028. However, all this UNPP and NPP accelerated growth depends on the successful refinement and mass production of flip chip Chip on Board, followed by True MicroLED.” 

The general rule of thumb is <2.5mm is narrow or what is also called fine pitch.

The top three vertical markets:

•  stadiums and venues;
• corporate and education;
• control room (up nearly 10%, driven by active global conflicts and threats of escalation).

The report suggests media and advertising have bright prospects for growth, as do broadcast and retail.

“Overall, we expect the total LED display market to continue to enjoy sustained development, with total value on track to hit over $20 billion in 2028,” says Romanowitz. “LED video displays alone will account for almost all of that value, cementing their position at the forefront of the industry.”