Evolving digital signage industry gives rise to Omdia’s new Pro AV vertical market service

With half of 2022 underway, revenue for the Pro AV industry is projected to increase 3.5% year-over-year to reach nearly $18 billion according to Omdia's latest reports tracking LCD, OLED, and LED video display technology. As the global economy emerges from the pandemic, key shifts driving the adoption of digital technology within the overall Pro AV landscape influences demand for different types of displays most applicable in specific segments. Therefore, Omdia recently launched a new Pro AV Vertical Market Viewpoint Service to provide a high-level holistic view of the digital signage industry for a comparison of flat panel displays and LED video displays by vertical market.     

Figure 1: Projected 2022 Pro AV revenue by product category

Source: Pro AV Vertical Market Viewpoint Service

In this report, Omdia provides a side-by-side comparison of the different product categories by ten different vertical markets for eight geographical regions by display area in square meters. The Pro AV industry has seen a dramatic uptick in the number of direct-view LED (dvLED) displays over the last few years, with many of these displays targeted toward applications which were previously dominated by LCDs, especially in control rooms and other mission-critical applications. For 2021, in all regions except China, Omdia expects nearly 70% - 80% of displays used in control room markets are primarily LCD videowalls with extreme narrow-bezel widths, as fine pixel pitch LED videowalls are still considerably more expensive. Additionally, overlap between LCDs and LED video displays is becoming more evident in other vertical markets as well, including public spaces, corporate, retail, and transportation sectors.

The report also provides key revenue comparisons by display technology and vertical markets within each region. Total revenue for LCD, OLED, and LED video displays increased 12.3% year-over-year for the first quarter of 2022 to reach $4.1 billion. Majority of the revenue in 2020 and 2021 comes from booming growth of interactive flat panel (IFP) displays, as the pandemic prompted the acceleration of distance and hybrid learning for students globally, in addition to remote working and increased demand for collaboration among colleagues in corporate settings used among classroom and conference rooms, respectively.

Overall, more opportunities for both types of display technologies continue to emerge into different vertical markets made possible by advancements in modern digital signage solutions.

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Omdia’s new Pro AV Vertical Market Viewpoint Service provides a comprehensive set of data and analysis pertaining to various vertical markets and industry trends for both flat panel displays technology and LED video displays.