The global LED videowall market is experiencing “massive demands” according to a report by LEDinside, with growth in outdoor rental and outdoor advertising LED videowall segments.
The report says that this growth is benefiting from the resumption of activities in commerce, entertainment, and other sectors after an industry-wide slow down caused global economic downturns.
Videowall manufacturers continue to promote the maturity of micro/mini LED technologies, driving down costs and boosting demand growth from the supply side.
Emerging markets such as cinema display and LED all-in-one maintained steady growth, while LED videowalls enjoy an increasingly larger footprint in markets such as commerce, entertainment, sports, healthcare and military, representing the diversification of applications and increased opportunities for growth in the LED videowall market.
Companies including Unilumin, Absen, and Leyard achieved revenue growth for 2023, seeing an increase in net profit. Liantronics also turned losses into profits. Unilumin topped the list by revenue, achieving a gross margin of 37.55%.
The report goes on to state Trendforce's prediction that the market size of global LED videowalls is expected to maintain growth through 2024, reaching a total of 10.051 billion Euros by 2027 at a CAGR of 9% from 2022-2027.