Commercial led displays screen have entered a period of high growth, with China, Japan and South Korea leading BOE TCL on the list. Compared with the year-on-year decline of the global color TV industry, commercial led display screen will flourish in 2020. In 2020, the global display market is worth 148.4 billion U.S. dollars and is expected to reach 177.1 billion U.S. dollars by 2026. During the forecast period, it is expected to grow at a compound annual growth rate of 3.6%.
The growth of commercial displays is due to three reasons: First, the demand for medical commercial displays has accelerated during the epidemic; the second is the acceleration of commercial retail and hotel digitalization, and the demand for commercial displays has increased; and the third is the acceleration of demand in the public transportation industry.
In the display category, the demand for OLED displays in various applications has surged, the use of LED display screens in video walls, TVs, and digital signage applications continues to increase, the demand for interactive displays in various applications, and the need for display-based medical care The growing demand for equipment (including ventilators and respirators) is a key factor in the continued improvement of the display market during the epidemic. Due to the growing demand in the global commercial sector, the entire industry will have more than 16 million commercial TV shipments in 2020. The commercial display market has witnessed the growing demand for customized digital signage solutions in different sectors, especially the healthcare and public transportation sectors.
Liquid crystal display (LCD) is a display technology that has been popular in most display panels for many years. The LCD is bright, reasonably priced, reliable, and provides excellent visual effects. LCD displays occupy the entire size range of display panels (from small devices such as smartphones and wearable devices to medium and large devices such as displays and TVs).
LCD panels are the most widely used in products such as TVs, monitors, notebook computers, and smart phones. In order to compete with other display technologies, LCD has undergone a number of technological advancements in substrate types (glass and plastic) and substrate manufacturing processes (such as A-Si, LTPS and IGZO). In order to provide better image quality, the company has also developed a QD color enhancement film for LCD.
Industries such as retail and hospitality are using the latest digital promotion methods to promote their products and services in an effective and influential way. This change has significantly increased the demand for commercial displays and may continue to grow during the forecast period worldwide.
In addition, the growing demand for 4K and 8K commercial LED display screen, combined with technologies such as AI upgrades, artificial intelligence and machine learning, is expected to contribute to market growth.
Currently, the advertising industry prefers ultra-high-definition content. Different from the previous ones, the equipment used to generate UHD content is expensive, and the output of UHD content for various advertising applications continues to grow, driving the demand for 4K and 8K commercial LED display screen products. In addition, manufacturers are expected to invest heavily in the development of more energy-efficient high-end specification products, thereby driving market growth. As energy conservation becomes one of the key factors for the sustainable development of business units, the demand for new technologies such as OLED and micro-LED that help organizations save energy is growing.