LED video displays represent one of the fastest growing technologies in the digital signage and professional displays industry, with global revenue set to exceed $7.6 billion by 2023, according to [Omdia.

After a soft start in 2019, global shipments of LED video displays grew 55 percent year-over-year, reaching a record 351,300 square meters in the third quarter. Third-quarter revenue in 2019 totaled $1.6 billion—an all-time high exceeding the previous record of $1.5 billion in the third quarter of 2018.

Growth occurred across all pixel pitch categories and sub-applications. Regional performances also were strong, with the highest growth recorded in China and the Asia-Pacific regions, as reported by the Omdia [LED Video Displays Market Tracker.

Ongoing research and development efforts in LED video display technology enables finer pixel pitch, design standardization, improved color calibration and advanced cooling systems to promote innovation and competition among brands. In addition, display brands, system integrators and channel partners are raising the bar for offering superior products, installation and service support, creating new opportunities in various markets. High-end indoor applications in broadcasting, control rooms, corporate lobbies, board rooms and conference rooms are becoming lucrative opportunities as businesses embrace long-term investments.

“The explosive growth in the fine pixel pitch (FPP) and the 2-4.99 mm pixel pitch category drove the market to new heights in the third quarter,” said Tarika Bheda, research and analysis associate director for digital signage and professional displays at Omdia. “Compared to the previous year, FPP shipments doubled in the third quarter of 2019 and contributed to record revenue generation in the control room and corporate verticals.”

The uptick in third-quarter FPP shipments occurred mainly because major Chinese brands like Absen, Liantronics, Unilumin, Leyard and Chinese tier II brands posted stellar performances, notably in China. Furthermore, tariff uncertainties impacted many brands throughout the first half of 2019, a phenomenon that somewhat stabilized in the third quarter as these brands adapted to better handle the adverse effects.

According to the latest release of Omdia’s LED Video Displays Market Tracker, Leyard, Unilumin and Liantronics led FPP global shipments with a collective share of more than 60 percent. Leyard and Unilumin also dominate the current sub 1.0 mm pixel pitch shipments globally, which represent 2.6 percent of FPP LED video displays. In terms of revenue, sub 1.00 mm currently brings in nearly 9 percent of overall FPP revenues, with the potential to capture over 20 percent by 2023.

Since 2018, the LED video displays market has seen significant growth in FPP, with many brands entering this space with products ranging from FPP to Mini and Micro LEDs. Omdia projects sub 1.00 mm shipments will grow at a 4-year compound annual growth rate (CAGR) of 70 percent reaching 24,600 square meters by 2023.

[“The long-term prospects for LED video technology look positive due to continued price declines and improvements in product specifications noted above,” Bheda said. “However, we may see some negative impact in the short-term due to the latest development of coronavirus in the China region,”

Globally, China holds the biggest market share for LED video displays with 39 percent in the third quarter of 2019. China is also the world’s largest manufacturing hub, as well as supplier of LED video components and displays. With the current lockdown situation in the city of Wuhan and travel restrictions within China, local companies will witness an impact on their productivity and the overall economy of the region. International effects are being monitored as the news is still developing.