U.S. Large Screen Display Market to Reach $8.45 Bn, by 2030, at 11.0% CAGR: Allied Market Research
Increase in demand for bright and power-efficient display panels, rapid digitalization, and decline in demand for traditional billboards drive the growth of the U.S. large screen display market.
PORTLAND, Ore., April 26, 2022 /PRNewswire/ — Allied Market Research published a report, titled, “U.S. Large Screen Display Market by Screen Size (80 Inch to 99 Inch, 100 to 149 inch, 150 to 199 inch, 200 to 300 inch, and Above 300 inch), Application (B to B and B to C), Product (Single screen, Video wall and Projector), Location (Indoor and Outdoor), and End User (Retail, Education, Healthcare, Corporate, Stadiums, Media and Entertainment, Government, and Others): Opportunity Analysis and Industry Forecast, 2021-2030.” According to the report, the U.S. large screen display industry was estimated at $2.91 billion in 2020, and is anticipated to hit $8.45 billion by 2030, registering a CAGR of 11.0% from 2021 to 2030.
Drivers, Restraints, and Opportunities-
Increase in demand for bright and power-efficient display panels, rapid digitalization, and decline in demand for traditional billboards drive the growth of the U.S. large screen display market. On the other hand, deployment of widescreen alternatives such as projectors and screen less displays impede the growth to some extent. However, emerging display technologies such as micro-LED and quantum dots and rise in preference toward electronic giant large-screen displays are projected to pave the way for lucrative opportunities in the industry.
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Covid-19 Scenario-
- As the retail and education segment was negatively impacted during the Covid-19 outbreak, the U.S large screen display market was also greatly affected, especially throughout the initial phase.
- However, the market is projected to revive soon.
The B to B Segment to Dominate by 2030-
Based on application, the B to B segment contributed to around four-fifths of the U.S. large screen display market in 2020, and is expected to lead the trail by 2030. Rise in internet penetration and digitalization has led to the development of advanced display system. The corporates are using large screen displays for various purposes such as command & control, conferencing & collaboration, digital signage, training & induction, and others in various day to day activities, thus propelling the segment growth. The B to C segment, however, would register the fastest CAGR of 12.8% throughout the forecast period, owing to the fact that large screen displays are used in the B2C market for watching movies and gaming.
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The Indoor Segment to Maintain the Dominant Share-
Based on location, the indoor segment accounted for nearly three-fifths of the U.S. large screen display market revenue in 2020, and is anticipated to rule the roost by the end of 2030. This is due to the fact that indoor displays help drive highly targeted marketing campaign to audience within premises, engage people, and enhance advertising and broadcasting information within industries. The outdoor segment, on the other hand, would manifest the fastest CAGR of 12.6% during the forecast period. This is attributed to the fact that the technology offers features such as intelligent broadcasting and control, advertisement detecting, safety broadcast, and innovative interactive areas.
The Corporate Segment Garnered the Major Share in 2020–
Based on end user, the corporate segment held the major share in 2020, generating nearly one-fifth of the U.S. large screen market. Increase in adoption of large screen displays in conference rooms, cafeterias, and work floors help engage their employees, and visitors. This is because interactive wayfinding can give every patients and visitors enhanced sense of well-being, safety, and security. These displays are also installed in office entrances for security, thus driving the segment growth. The healthcare segment, on the other hand, would portray the fastest CAGR of 12.4% from 2021 to 2030.
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Key Players in the Industry-
- Koninklijke Philips N.V.
- LG Electronics Inc.
- NEC Corporation
- iSEMC
- Volanti Displays
- Planar Systems
- Sony Corporation
- Panasonic Corporation
- Samsung Electronics Co. Ltd.
- ViewSonic Corporation
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