CCFL and LED Backlit are the 2 technologies that are deployed currently in the types of backlight technologies. Among these, LED backlit are majorly preferred technology, being utilized in largest formats display devices worldwide. The LED Backlit segment is anticipated to reach market valuation of over US$ 20m Bn by the end of 2027, reflecting CAGR of 8.1% throughout the assessment period. The CCFL segment is estimated to expand at 1.2X throughout the assessment period, in terms of value. The LED Backlit segment is estimated to register high Y-o-Y growth rates during the assessment period.
Drivers and Restraints of Market
Rising international and sports events across the globe, rapid global urbanization and modernization and high mean time between failures are key factors that are projected to fuel the growth of the market. However, rising adoption of smart TV, higher cost, as well as increasing preference towards online advertising are several factors that are projected to limit the growth of the market.
Technological developments in the display technology resulted into the launch of laser phosphorous displays. Due to some improved features like less power consumption, better image quality, the laser phosphor displays are anticipated to replace LCD and LED displays in foreseeable period.
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Due to rising consumer demand for improved features like remote control functionality incorporated with ease of use, various companies are manufacturing large display formats, began including features such as simultaneous remote control of multiple large format display that enable operators to simultaneously control multiple displays remotely utilizing devices like personal computers.
Segmentation of Market
The global market for large format display market has been segmented into less than 80”, 40” to 80” and 32” to 40” on the basis of screen size. Based on product type, touchscreen, outdoor and standalone video are the segments of the market. Further, on the basis of deployment type, the market consists of rental and installed segments. On the basis of backlit technology, the market incorporates CCFL and LED Backlit. Sports, Government & Public, Retail, Education, Corporate, Healthcare, and Hospitality are the various end-users of the large format displays. The report reveals analysis of the market over Asia Pacific Excluding Japan, Middle East & Africa, North America, Western Europe, Japan, Eastern Europe, and Latin America regions.
North America is anticipated to remain the largest regional market, procuring nearly one-third share of the market by the end of 2027. The 2nd largest region in the market is Western Europe, procuring nearly 19% share of the market by the end of 2027, in terms of value.
The installed segment, based on deployment type is projected to remain the largest, procuring over two-third share of market throughout the assessment period.
The 40” to 80” segment, by screen type is anticipated to expand 2.2X over the forecast period, procuring nearly three-fifth market share by the end of 2027.
The touchscreen segment, by product type is estimated to witness highest single-digit CAGR throughout the assessment period.
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Based on the backlit technology, LED Backlit is projected to be the largest segment by the end of 2027, with 95% share of the market, in terms of value throughout the forecast period.
On the basis of industry, in terms of value, the industry segment is projected to remain the largest segment, holding nearly one-fourth share of the market by the end of 2027, reflecting single-digit CAGR.
The report profiles several leading market players contributing to the growth of the market such as Sharp Corporation, Christie Digital Systems USA, Inc., SAMSUNG, NEC Corporation, Planar Systems Inc., Panasonic Corporation, Barco, Koninklijke Philips N.V., BenQ Corporation, and LG Electronics. Several companies are entering into long-term contracts with business partners to grow sales revenues and new innovation strategy, thereby allowing large format display vendors to gain attention of new potential customers in emerging markets.