LED Modular Display Market: Where Innovation Meets Illumination

LED Modular Display Industry Overview

The global LED Modular Display Market was valued at $7.53 billion in 2023 and is anticipated to exhibit robust growth, with a projected CAGR of 13.7% from 2024 to 2030. This expansion is largely attributed to the increasing deployment of LED modular displays across diverse applications, including airports and railway stations, retail environments, media and advertising, auditoriums, sports and entertainment venues, and control rooms. Furthermore, the rising trend of outdoor events featuring live video, dynamic content, traditional advertising, and social media advertising—such as music concerts, sporting events, brand endorsements, product launches, and political gatherings—is expected to significantly boost the demand for LED modular screens.

To enhance customer engagement, many businesses are adopting advanced technologies like artificial intelligence, augmented reality, big data, and machine learning. For instance, retail stores are leveraging interactive displays that allow customers to virtually try on clothing. However, the development of such sophisticated technology necessitates substantial research and development investment, leading to a higher overall cost for LED modular displays. This has prompted market players to offer rental services for these displays. Companies like PixelFLEX, among others, provide rental options for LED screens and innovative LED solutions, making them more accessible.

Detailed Segmentation:

• Type Insights

The indoor modular screens segment dominated the global industry and accounted for a revenue share of 57.1 % in 2023. The rise in the demand for LED video walls to display flight, bus, and train departure and arrival information at airports and stations is predicted to boost the segment's expansion. LED video walls are also regarded as the most reliable and efficient. The increasing inclination towards installing indoor modular screens is attributed to their ability to provide seamless, high-quality images. Therefore, indoor modular screens such as video walls are commonly set up in retail marketplaces and shopping centers, driving market growth.

• Regional Insights

Asia Pacific LED modular display market dominated the global market in 2023 with a revenue share of 35.1%. Regional growth is expected to experience growth with the help of ongoing advancements in public spaces and the increasing use of modern display technologies for advertising by numerous leading manufacturers, including Samsung, SHENZHEN ABSEN OPTOELECTRONIC CO., LTD., Sony Corporation and others. Moreover, governments in the region are investing heavily in smart city projects, which often incorporate LED displays for traffic management, information dissemination, and public safety. Technological advancements, increasing adoption for advertising through major cities, growing use by governments and other welfare organizations to display critical information about initiatives and programs are anticipated to drive growth for this regional industry.

Gather more insights about the market drivers, restraints, and growth of the LED Modular Display Market

Key Companies & Market Share Insights

The following are the leading companies in the LED modular display market. These companies collectively hold the largest market share and dictate industry trends.

• Barco
• Daktronics
• Mitsubishi Electric Corporation
• NEC Display Solutions (SHARP CORPORATION)
• Panasonic Corporation
• PixelFLEX
• Planar (LEYARD)
• Prismaflex (Baxter)
• Pro Display
• SAMSUNG

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Recent Developments

• In May 2024, Planar introduced a new range of Leyard LED display solutions to augment the company's product offerings specifically supporting outdoor, standard pitch, and high demand for staging and rental uses. The company is excited to grow Planar's presence in these areas and to enhance its customer service for their varied requirements.
• In May 2024, Daktronics launched the new LED display technologyFlip-Chip COB (Chip On Board) in global market. A recent release from the company in the Narrow Pixel Pitch (NPP) product line includes enhanced reliability, durability, and lower power usage, resulting in a better customer experience. With the launch of this product, the company aims to align with the latest technology trends in the LED industry.