Large Format Display Market Is Expected to Reach Approximately USD 15.1 Billion by the End Of 2023 with 7% CAGR During Forecast Period 2018-2023
Pune, India -- (SBWIRE) -- 12/12/2018 -- Market Highlights:
The market is expected to reach 15.1 billion by 2023 with a CAGR of 7% over the forecast period. The factors which are driving the growth of the Large Format Display Market are increasing demand for brighter displays, increased power efficiency, increasing implementation of these displays from the commercial sector and also the growing awareness regarding the benefits of the video wall has increased the adoption of these technologies which in turn boosting the LFD market. Also, the increasing investments by the manufacturers are boosting the growth of the overall market.
On the basis of end-users, the market has been segmented into retail, healthcare, transportation, sports, entertainment, government, education and banking and finance among others. Out of these, retail, government and healthcare accounted for the largest market share majorly due to increasing demand for video games, technological changes and increasing demand for these displays in the transportation sector in the Asia-Pacific region.
Also, the education sector is expected to grow over the forecast period, 2017-2023 majorly due to increasing usage of these displays to generate messages, to train individuals and high brightness & resolution.
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Major Key Players:
The key players in the global large format display market include- Leyard Optoelectronic Co., Ltd. (China), Samsung Electronics Co., Ltd. (South Korea), Barco NV (Belgium), Sony Corporation. (Japan), LG Display Co., Ltd. (South Korea), NEC Corp. (Japan), Sony Corporation (Japan), TPV Technology Ltd. (Hong Kong) and View Sonic Corporation (U.S.) among others.
Market Research Future Analysis:
The global large format display market is expected to grow significantly over the forecast period, 2017-2023. Commercial segment of large format display market globally drives the market majorly due to increasing demand for play stations and increasing usage of these displays for educational purposes. The market is expected to have higher growth rate as compared to the previous years.
Asia-Pacific region is expected to grow at a fast pace over the forecast period, 2017-2023. Countries such as Japan, China and India contribute largely to the overall market share. The region is attributed to the increasing demand by small & medium enterprises, China being a manufacturing hub and transportation sector is the largest revenue generator in this region.
North-America accounted for the largest market share majorly due to increasing demand for three-dimensional video games and the growing usage of these displays in various medical institutes and hospitals.
For the purpose
of this study, Market Research Future has segmented the market of Large Format Display into component, display type, end-users and region.
- Video Wall
- Standalone Displays
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