NEWARK, Del, Jan. 30, 2023 (GLOBE NEWSWIRE) -- The global video walls market revenue totaled US$ 8,388.81 Million in 2023 and is projected to reach US$ 22,767.9 Million by 2033, growing at a promising CAGR of 10.5% from 2023 to 2033.
The utility for desirable features such as high resolution, enhanced brightness, powerful processing/computing systems, and low maintenance requirements have made video walls a reliable channel for interactive presentations, broadcasting, and security surveillance. In recent times, the media & broadcasting industry has flourished, increasing video walls application in sports stadiums, open theatres, and concerts. Video walls are in demand for their superior user experience, propelled by the integration of the latest technologies, such as Artificial Intelligence (AI) and the Internet of Things (IoT).
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Video walls are finding extensive application in smart cities, across airports, railways, bus stations, and so on. There is a rise in demand for digital content channels targeting travelers. Video walls also tend to find essential applications in the research industry for seamless data sharing.
Factors such as the high cost of installations, competition from adjacent market segments, and consumer dissatisfaction due to irregular display experiences between multiple screens hamper the market growth. As a result, the CAGR has depreciated to 13.2% from the previously recorded CAGR of 18.1% between 2017 and 2022.
Key Takeaways from the Report:
- The United States currently dominates the regional market with a global video walls market share of 37.7% US$ 3.4 Billion in 2023.
- United States is expected to record the highest CAGR during the forecast period at 13.1%
- LED video walls are expected to register a CAGR of 12.8% during the forecast period
- The China market is expected to reach a valuation of US$ 2.2 Billion by 2033
- The United States market is projected to achieve a revenue of US$ 11.8 Billion by 2033, with the highest growth of US$ 8.4 Billion over the forecast period
- The UK market is expected to reach a value of US$ 1.3 Billion by 2033 at a CAGR of 12.5% between 2023 and 2033.
Competitive Landscape
The key market players are currently working on enhancing the integration of advanced technologies such as AI and IoT to cater to niche applications of video walls across industries. This has led to a rise in fruitful collaborations between key market players and advanced technology solutions providers.
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Important Market Developments:
- In January 2020, LG Business Solutions USA launched two new 55-inch LCD video wall panels with 0.44mm bezels. This aids in enhanced video wall installations. The product also features a new embedded Smart Calibration tool that helps cut down on both installation and maintenance, for significant time and cost savings.
- In August 2020, Primeview introduced FusionMAX LED Video Walls. This enhanced product variant features a 32:9 Aspect Ratio. It also comes with the world’s first 38401080-pixel resolution, bezel-free panel display. It aids in eliminating the most common custom video wall issues.
- In 2022, Planar announced that it aims to launch a diverse portfolio of emerging broadcast technologies at NAB 2022. This encompasses diverse technologies such as cutting-edge fine-pitch LED display solutions for in-camera virtual production and advanced motion capture (Mocap) solutions for fine camera tracking.
Key Players:
- Samsung Electronics Co., Ltd.
- NEC Display Solutions
- Koninklijke Philips N.V.
- Barco
- Leyard
- Panasonic Corporation
- Christie Digital Systems USA, Inc.
- Delta Electronics, Inc.
- AU Optronics Corp.
- Navori SA
- Prysm, Inc.
- Unilumin
- Shenzhen CLT LED Technology Co., Ltd
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Video Walls Market by Category
By Component:
- Video Walls Hardware
- Video Walls Software
- Video Walls Services
By Display Technology:
- LED Video Walls
- LCD Video Walls
- Others
By Industry:
- Government & Public
- Retail & Consumer Goods
- Travel & Hospitality
- Education
- Healthcare
- Media & Entertainment
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East and Africa
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage/Taxonomy
2.2. Market Definition/Scope/Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
4. Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2017 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
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