Despite growing interest in LED technology, LCD public displays remains the popular choice

As the public displays market’s interest in LED technology has been growing immensely, the transition from LCD to LED public displays is inevitable.

The industry’s constant hunger for innovation will increase LED video displays market size growth to be worth nearly $11bn by 2026 (2022 – $5.3bn). This translates to 2.7 million sqm shipped worldwide with a 12.1% CAGR growth through 2026, with China, North America, and Asia & Oceania, leading the growth.

However, based on Omdia’s latest ProAV Vertical Market Tracker, LCD video walls remain popular in most application verticals such as retail, control room, conference room, transportation, and education signage.

Undoubtedly, the momentum is swinging full force in LED public displays’ favor. However, it does not signify the immediate end-of-life for LCD public displays, particularly video walls and IFP/touch displays which are still dominant in certain markets due to affordability.

High brightness LCD public displays garnering popularity in Asia & Oceania with an anticipated double-digit CAGR growth through 2026

Among the top three largest market for high-brightness LCD public displays, Asia & Oceania is expected to see the highest CAGR growth at 14.3% through 2026. Western Europe, the largest market in this aspect, is forecasted to experience a 6.1% CAGR growth, followed by North America at 3.5% CAGR.

Table 1: Estimated High-brightness LCD public display shipments (2022 – 2026)

Source: Public Displays Market Tracker, Country-Level – History + Forecast – 4Q22, Omdia

Based on Omdia’s latest Public Displays Market Tracker, Asia & Oceania reported 7,784 units of high-brightness LCD public displays in 2022. This figure is set to double in 2026 with an estimated shipment of over 15,000 units. Western Europe and North America shipments are expected to reach 50,000 and 60,000 units in 2026. However, Omdia forecasts the market dominance for these two powerhouse regions to shrink to 37% (2022 – 41.8%) and 30% (2022 – 38.3%) respectively in 2026. In contrast, Asia & Oceania will see its market share grow from 7% in 2022 to 9% in 2026.

Asia & Oceania’s public displays market is dominated by the retail vertical, which is expected to hold nearly 35% market share compared to other verticals in 2023. The region’s rise in high-brightness LCD public displays is driven by a forecasted increase in shipments of 1000-1499 nits and 2000-2999 nits signage and information displays, widely used as window displays in the retail vertical. Additionally, certain LCD public displays such as video walls have a significantly cheaper average selling price (ASP) at $2,800 (2022 – 2026) compared to $3,600 for LED video walls, making it a more logical option for various applications.

Asia & Oceania and China’s LCD public display growth to outpace other regions in 2023

Overall, Asia & Oceania and China is set to lead the public display market growth to in 2023. China’s recent reopening of its borders is good news to the global economy including the public displays market, particularly in the tourism, retail, and manufacturing sectors. 

Key players in tourism and retail sectors will look to improve on their infrastructure to attract and manage the anticipated influx of tourists from China. There is also growing optimism towards Chinese consumer spending, as households in the region have increased their savings throughout the pandemic and lockdown period due to lack of spending activities. 

In Asia & Oceania, its public display growth is driven by India, the largest market in the region with an estimated 6% growth in 2023. Domestically, India’s growth is contributed by its increasing consumer spending and young population.

In February 2023, the Indian government announced its annual budget of over $500b which saw major financial allocations for upgrades in the urban development, transportation, aviation, education, and tourism sectors. Omdia expects to see a drastic increase in public display shipments in relation these investments in India throughout 2023.