Fine Pixel Pitch LED Displays Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Up to 3mm, 2mm to 1mm), Application (Broadcast Screens, Digital Signage, Control Rooms and Monitoring, Visualization and Simulation, and Others)
The fine pixel pitch LED displays market was valued at US$ 1,535.50 million in 2020 and is projected to reach US$ 5,490.84 million by 2028; it is expected to grow at a CAGR of 17.27% during 2020-2028.
The center-to-center distance between LED clusters or pixels is termed as pixel pitch, which is measured in millimetres; typically, fine pixel pitch is less than 3mm. Fine pixel pitch LED displays comprise tiles of closely placed arrays of LEDs. The fine pixel pitch LEDs confer superior resolution than LED displays with pixel pitch above 4 mm. Therefore, the fine pixel pitch LEDs are finding applications in different segments, including government and public, aerospace & defense, retail, and control rooms and monitoring. As per an article published in 2020 by DOIT VISION, the global fine pixel pitch LED display market is growing with time. The future market is based on regional demands, type availability, manufacturers’ performance, and application range of the pixel pitch LED display screens. Owing to their superior quality and versatility, fine pixel pitch LED displays are ideal for any organization interested in upgrading their facilities.
The fine pixel pitch LED displays market is segmented based on type, application, and geography. Based on type, the market is segmented into up to 3 mm and 2 mm to 1 mm. In 2020, the 2 mm to 1 mm segment accounted for a larger market share. In terms of application, the market is categorized into broadcast screens, digital signage, control rooms and monitoring, visualization and simulation, and others. In 2020, the control rooms and monitoring segment accounted for the largest share in the market. Geographically, the global fine pixel pitch LED displays market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, the APAC segment accounted for a significant share in the global market.
According to latest situation report from the World Health Organization (WHO), the US, Spain, Italy, France, Germany, the UK, Russia, Turkey, Brazil, Iran, and China are some of the worst affected countries due to COVID-19 outbreak. The outbreak has created significant disruptions in primary industries including electronics, semiconductor, and manufacturing. A sharp decline in the growth of mentioned industries is impacting the growth of the global fine pixel pitch LED displays market as they are the major supply sources for fine pixel pitch LED displays products and solutions. Factory shutdowns, travel bans, trade bans, and border lockdowns to combat and contain the outbreak have impacted manufacturing, supply, and sales of various LED products. However, the trend of broadcasting and awareness screen at hospitals, public places, and government offices will help in regaining the significance of fine pixel pitch LED displays post lockdown. There will be a gradual increase in the number of LED walls at public places for circulating information to combat against COVID-19, which is further expected to create lucrative growth opportunities for the market.
The overall fine pixel pitch LED displays market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the fine pixel pitch LED displays market with respect to all the segments. It also provides the overview and forecast for the global fine pixel pitch LED displays based on all the segmentation provided with respect to five major regions—North America, Europe, Asia Pacific, Middle East & Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the fine pixel pitch LED displays market.
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