According to the latest research,「2019 Global LED Video Wall Market Outlook - Cinema, Rental Market and Price Trend」, as the demand for LED display in markets including rental market, HDR market application, retail and meeting room boosts, global LED display market scale in 2022 is expected to stand at USD 9.349 billion with a CAGR of 12% during 2018 to 2022. Thereinto, that of indoor fine pitch display in 2018 is expected to be up to USD 1.997 billion with a y-o-y growth of 39% and its CAGR during 2018 o 2022 will reach 28%, which is driven by the continuous development of ultra-fine pitch display in the future.
Base on the application of LED fine pitch display, it can fall into six categories: broadcasting (studio), security & control room, corporate & education (company meeting room, school and training institute classroom, etc), retail (high-end retail, shopping mall), public area & transport (airport, metro, public square), hospitality & entertainment & theater (cultural and recreational centers like hotel and theater). Retail and hospitality & entertainment & theater are expected to achieve obvious growth.
As fine pitch display technology gets increasingly matured, the pixel pitch of outdoor display also tends to become smaller and finer. Due to relatively low cardinality, market scale in 2022 is expected to be around USD 521 million and the CAGR during 2018 to 2022 will come to 35%.
HDR Display Market Includes Cinemas, Home Theaters, Bars and Theme Parks
There are three major development trends on the cinema market, including old equipment replacement tide, market and product differentiation positioning, and operation and fund effective management.
In terms of replacement market, laser light sources have advantages in brightness, product lifespan and color saturation. 30,000lm 4K RGB laser projector will become the key product of the five-year high-end projection market.
New cinema installation market emphasizes market segment and product differentiation positioning. Premium cinemas are defined to provide high quality images, immersive image display and immersive sound effects. In terms of image display, high-definition cinemas will be the market for projector manufacturers and LED display manufacturers to compete. Compared to the total price of 4K RGB laser projector with screen (USD 100,000), the price of LED display product is much higher, and the future trend is likely to shift towards P1.9 high precision display.
Cinema adopts fine pitch digital display. The frame rate issues can potentially be resolved through the display as well to enhance the enjoyment of audio and video. The brightness of the images viewed by each seat is uniform, and even the quasi-3D function can be achieved. In the future, naked eye 3D technology can bring different business opportunities for displays in the cinema market.
3D glasses include shutter and polarizer. When adopting shutter 3D Technology, the brightness of picture will reduce slightly, but the overall picture’s clarity won’t decrease. In terms of LED display with shutter 3D technology, pixels can remain consistent with 2D images, but the frame rate needs to be accelerated, which is precisely the advantage of LED display.
On the other hand, Sony’s Crystal Micro LED display received a lot of market attention. It has several edges- wide viewing angle, high contrast, better image quality, and is able to integrate seamlessly with other identical modules, especially needed at locations such as showrooms, museums, and cinemas. At ISE 2018, SONY showcased LED cinema in the exhibition, and also stressed the determination to promote the LED display into the cinema.
Traditional display and LCD makers have prioritized the development of Micro LED displays and have planned to enter LED ultra-fine pitch display market by cooperation and alliance. It is believed that LED fine pitch display will enter the high-end niche market in the next three years when advanced technology becomes mature.
Rental Market Steadily Grows within Next Five Years
Due to the large number of sports in the world in double years (such as 2014, 2016, 2018), the electoral activities have driven demand in the rental market. With the increase in the demand for flexible assembly and the trend of smaller pitches on the display screen, it is estimated that the rental market will show a relatively stable growth in the next five years.
LED Digital Display Product Price Analysis
The price of display products is subject to four key factors, including brand, warranty, reliability and tender price, which interact with each other. Even though manufacturers announce the products in same pixel pitch, the prices will be diverse, mainly resulting from the difference in product quality and reliability. The branded manufacturers provide more installation assurance, after-sales service and product warranty, especially the product warranty, international manufacturers offer longer warranty period than Chinese manufacturers, and they provide quick maintenance service; therefore, their products are with higher prices. Moreover, the tender also is one of the major factors influencing the price, and the prices of tenders about different applications and for different purposes vary greatly.