Portland, OR, Feb. 23, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global narrow pixel pitch LED displays market was estimated at $1.5 billion in 2021 and is expected to hit $7.1 billion by 2031, registering a CAGR of 16.7% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report Coverage & Details:
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $1.5 Billion |
| Market Size in 2031 | $7.1 Billion |
| CAGR | 16.7% |
| No. of Pages in Report | 197 |
| Segments Covered | Type, Application and Region |
| Drivers | Increase in demand for narrow pixel pitch LED displays from the advertising and signage industry |
| Advancements in LED technology and increase in adoption of cloud-based content management systems drive the market growth | |
| High cost of installation and maintenance | |
| Opportunities | Rapid technological advancements in the LED display technology is expected to drive the market growth |
Covid-19 Scenario
- 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.
- 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 narrow pixel pitch LED displays market is broadly segmented on the basis of type, application and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
By type, the 2mm to 1mm segment held the largest share in 2021, garnering nearly two-thirds of the global narrow pixel pitch LED displays market revenue, and is projected to maintain its dominance by 2031. The Up to 3mm segment, on the other hand, would showcase the fastest CAGR of 19.39% during the forecast period.
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By application, the above control rooms and monitoring segment contributed to nearly one-third of the global narrow pixel pitch LED displays market share in 2021 and is projected to rule the roost by 2031. The digital signage segment, simultaneously, would display the fastest CAGR of 19.84% throughout the forecast period.
By region, the market across Asia-Pacific held the major share in 2021, garnering nearly two-fifths of the global narrow pixel pitch LED displays market. North America, on the other hand, would showcase the fastest CAGR of 19.5% from 2022 to 2031.
The key market players analyzed in the global narrow pixel pitch LED displays market report include NEC Display Solutions, PixelFLEX LED, Daktronics Inc., Shenzhen Absen Optoelectronic Co. Ltd., Christie Digital Systems USA, Unilumin, SiliconCore Technology Inc., NanoLumens, Inc., Leyard Optoelectronic Co. Ltd. and Barco. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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Key Benefits for Stakeholders
- This study comprises an analytical depiction of the market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall Narrow Pixel Pitch LED Displays market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current global Narrow Pixel Pitch LED Displays market forecast is quantitatively analyzed from 2021 to 2031 to benchmark financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the Narrow Pixel Pitch LED Displays market.
- The report includes the market share of key vendors and global Narrow Pixel Pitch LED Displays market trends.
Narrow Pixel Pitch LED Displays Market Key Segments:
Type
- Upto 3mm
- 2mm to 1mm
Application
- Broadcast Screens
- Digital Signage
- Control Rooms and Monitoring
- Visualization and Simulation
- Others
By Region
- North America (U.S., Canada, Mexico)
- Europe (UK, Germany, France, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
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