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Global Large Format Display Market Anticipated to Surge at a CAGR of 6.1% Through 2025
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Global Large Format Display Market: Snapshot
Large format displays are large flat screens that are increasingly used in businesses to display messages and presentations to customers. Rapid technological changes have made it possible to install displays with high resolution picture quality, thus creating a lasting impression on clients & customers and enhancing product offerings. In the recent years, large format displays have proven to influence customer decision making at the point of sale, thus enriching the overall customer experience.
Video Walls Format Display to Witness Increase in Deployment in Coming Years
On the basis of display type, the large format display market is segmented into video wall and standalone. Video walls utilizes multiple high resolution screens that is integrated with software to create an influencing text and audio, fast-moving graphics, and gripping storylines. They are increasingly deployed over standalone displays in airports, public venues, educational institutions, retailers, etc. as they incorporate interactivity with their customers. Thus, the video wall display type currently holds the highest share in the global large format display market and is further anticipated to expand at a faster rate than standalone display type.
On the basis of technology, the large format display market is segmented into LED, LED backlit-LCD, OLED and others. Although, LED backlit-LCD held the largest share in 2016, its market share is expected to decline during the forecast period owing to the increasing adoption of fine-pixel and large-pixel LED displays. Moreover, OLED technology is expected to grow at a significant rate, especially in North America and Europe throughout the forecast period.
On the basis of display size, the large format display market is segmented into 32-40 Inch, 41-80 Inch and >80 Inch. The 41-80” display size is increasingly installed in retail and commercial spaces and is therefore expected to grow at the highest CAGR throughout the forecast period.
On the basis of application, the large format display market is segmented into indoor and outdoor. Indoor applications make larger use of fine-pixel LED displays, OLED displays, etc. than used in outdoor applications. Also, regulatory and zoning considerations affect the installation of large format displays in outdoor applications. Therefore, indoor application currently holds a significant share in the global large format display market and is further estimated to maintain consistency during the forecast period.
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On the basis of end-user, the large format display market is segmented into Banking, Financial Services and Insurance (BFSI), sports & entertainment, retail, healthcare, corporate, and others. The retailers across the world are adapting and evolving along with the technology as also making use of personalization to enhance product offerings. Therefore, the retail end-user comprised the highest share in 2016 and is expected to grow at the highest CAGR among all others. Apart from retail, sports & entertainment as well as corporate represented significant market share in 2016 and are further expected to grow at a considerable CAGR during the forecast period.
North America Exhibits Higher Installation of Expensive Large Format Displays
Based on region, the large format display market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Being a technologically advanced nation, North America installs the higher number of expensive LED and OLED large format displays. Therefore, it is expected to dominate the global large format display market throughout the forecast period, U.S. being its major contributor. However, Asia Pacific is expected to grow at a highest CAGR during the forecast period owing to the presence of large number of display panel manufacturers and the flourishing retail and corporate sector in the region. The global large format display value stood at US$ 8,730.5 Mn in 2016 and is anticipated to expand at a CAGR of 6.1% during the forecast period from 2017 to 2025.
The key players profiled in the global large format display include Barco NV, NEC Corporation, LG Display Co., Ltd., Samsung Electronics Co., Ltd., Sharp Corp., Sony Corp., TPV Technology Ltd., Leyard Optoelectronic Co., Ltd., Au Optronics Corp., and View Sonic Corporation.
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