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Evolving Market Trends In The Large Format Display Industry: Sharp NEC Display Solutions Unveils New Large Format Displays To Enhance Workplace Collaboration
Large Format Display
What Is the Expected Large Format Display Market Size During the Forecast Period?
The market size of large format displays has recently seen significant growth. It is projected to rise from $14.51 billion in 2024 to $15.66 billion in 2025, with a compound annual growth rate (CAGR) of 7.9%. The growth observed in the past is linked to the evolution of digital signage, increased demand for interactive displays, expanded usage in outdoor applications, hike in healthcare usage, and the rising adoption in retail and e-commerce.
The market size of large format displays is predicted to witness significant expansion in the forthcoming years, escalating to $21.66 billion by 2029, with a compound annual growth rate (CAGR) of 8.4%. Factors contributing to this upswing during the forecast period include energy efficiency and sustainability, demand in the gaming, entertainment and healthcare sectors, smart city programmes, wayfinding and the surging need for remote work solutions. Key trends projected to make an impact during the estimate period encompass the incorporation of AI and IoT, solutions for remote collaboration, the inclusion of augmented reality (AR), alongside outdoor and high-brightness displays.
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What Are the High-Growth Segments in the Large Format Display Market?
The large format display market covered in this report is segmented -
1) By Display Type: Video Wall, Standalone Display,
2) By Technology: Large Format Display(LFD) With LED backlit display, Large Format Display (LFD) With OLED, Large Format Display(LFD) With E-Paper,
3) By Application: Indoor, Outdoor,
4) By End User: Commercial, Infrastructural, Institutional,
Subsegments:
1) By Video Wall: LED Video Wall, LCD Video Wall, Projection Mapping Video Wall
2) By Standalone Display: Digital Signage Displays, Interactive Displays, Touchscreen Displays, High Brightness Displays
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What Key Drivers Are Expected to Influence Future Large Format Display Market Growth?
The growth of the large format display market is anticipated to be driven by the burgeoning applications of digital signage. This refers to the technology used to showcase digital images or messages on large format displays, such as video walls. These displays play a crucial role for various applications such as interactive meeting room presentations and digital signage. For example, a report published by Voicebooking, a Netherlands-based online venture for voice-over services bookings, outlined in June 2023 how digital advertising spending in Europe surpassed $96.9 billion by the end of 2022. This indicated a 5% surge from the preceding year's expenditure of $92 billion in 2021. Thus, the expanding usage of digital signage applications is fuelling the progress of the large format display market.
Which Companies Hold the Largest Share Across Different Large Format Display Market Segments?
Major companies operating in the large format display market are Samsung Electronics Co. Ltd., LG Corporation, Sharp Corporation, Leyard Optoelectronic, Sony Group Corporation, Barco NV, Panasonic Holdings Corporation, NEC Corporation, TPV Technology Co. Ltd., ViewSonic Corporation, Vtron Group Co., AUO Corporation, Deepsky Corporation Ltd., AOTO Electronics Co. Ltd, Unilumin Group Co., Prysm Systems Inc., Planar Systems Inc., Liantronics Co. Ltd., Shenzhen Absen Optoelectronic Co. Ltd., Mitsubishi Electric Corporation, Delta Electronics Inc., Daktronics DR., Christie Digital Systems USA Inc., BenQ Corporation, Koninklijke Philips N.V., Hisense Group
What Trends Are Driving Growth in The Large Format Display Market?
The large format display market is seeing an upward trend in product innovation. Big businesses within the market are honing in on research and development to create pioneering solutions for commercial display needs, thereby solidifying their industry standing. For instance, in January 2024, Sharp NEC Display Solutions, a visual technology and digital signage firm based in Germany, unveiled its Sharp-branded MultiSync ME Series. This freshly minted large-format display collection has been designed with modern workplace scenarios in mind, balancing noteworthy performance with economical pricing. The latest series aims to facilitate improved communication and cooperation across various settings, including corporate offices, retail locations, and educational facilities. These displays come equipped with high-grade technology, ensure superior image quality, versatility, and extensive connective options, making them appropriately suited for a multitude of applications.
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What Are the Emerging Geographies for The Large Format Display Market Growth?
North America was the largest region in the large format display market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the large format display market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Large Format Display Market?
2. What is the CAGR expected in the Large Format Display Market?
3. What Are the Key Innovations Transforming the Large Format Display Industry?
4. Which Region Is Leading the Large Format Display Market?
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