Worldwide LED video display area shipments are predicted to surge by 36.7 percent in 2019 as reductions in price makes LED an attractive alternative to projectors and flat panel displays according to IHS Markit.
IHS Markit is a UK based global information provider in the worldwide business landscape.
LED video display area shipments are set to reach 1.1 million square metres globally in 2019, an increase from 800,000 in 2018.
The announcement follows shipment growth of 83% in 2018, with revenue in 2019 set to rise to $5.1 billion USD, ahead of 2018’s revenue total of $4.8 billion USD.
According to IHS Market, area shipments will expand to around two million square metres and $7.5 billion USD in revenue by 2023.
Tarika Bheda, research and analysis associate director, IHS Markit said “The technology is also aggressively competing with LCD videowalls in indoor applications, such as command-and-control rooms and premium conference rooms. In addition to declining cost, lifespan, size scalability and seamless image display are the main factors driving the increasing adoption of LED video technology.”
According to the research, almost half of all LED video displays shipped in 2019 will be installed in indoor applications, with the 2-4.99mm pixel-pitch category dominating the market, with a predicted share growth of 52% of the global LED video display market in 2023.
IHS Market predicts the public-space application of LED video displays to remain dominant in the market, with transportation, control room and corporate verticals expected to grow at the fasted pace during the forecast period between 2019 and 2023.