Market Synopsis
As per the analysis by Market Research Future Reports (MRFR), the global large format display market is estimated to value 15.1 billion with a CAGR of 7% during the forecast period from 2017 to 2023. The growing investment by the manufacturers is one of the most significant factors driving the global large format display market 2020. The other factors which affect the growth of marker are the rising demand are better power efficiency, the rising deployment of these displays from the commercial industry, rising demand for brighter displays. Besides, the rising awareness with respect to the benefits of the video wall has expanded the adoption of these technologies, which augment the global Large format Display Market Moreover, the innovation in LED displays, the launch of 4K technology, the growing application of such displays in various ways, cheap cost of displays, and better efficiency are some of the other elements which drive the market. Besides, elements such as increasing the application of digital signage is a significant opportunity for the large display format market. In addition, the availability of high definition large format displays propels the market. Factors like flexibility, stability, environment resistance are expanding the expansion of the market.
However, the outbreak of COVID-19 has affected the market. Several regions have witnessed a significant change in the market. We will provide an impact analysis report on COVID-19.
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Key Players
The forefront players of the global large format display market are TPV Technology Ltd. (Hong Kong), Samsung Electronics Co., Ltd. (South Korea), Leyard Optoelectronic Co., Ltd. (China), Barco NV (Belgium), L.G. Display Co., Ltd. (South Korea), Sony Corporation. (Japan), NEC Corp. (Japan) , and View Sonic Corporation (U.S.), and few others.
Market Segmentation
The global large format display market can be classified on the basis of display type, component, end-user, and region.
On the basis of display type, the global large format display market can be classified into Standalone Displays and Video Wall.
On the basis of component, the global large format display market can be classified into Accessories, Controllers, Mounts, Displays, and others.
On the basis of end-user, the global large format display market can be classified into education, healthcare, retail, transportation, entertainment, sports, government, and banking and finance, among others.
On the basis of region, the global large format display market can be classified into Europe, North-America, Asia-Pacific, and the Rest of the World (RoW).
Regional Analysis
The geographical analysis of Europe, North-America, Asia-Pacific, and the Rest of the World (RoW) has been conducted. As per the analysis by MRFR, the market is reigned by North America. The research reveals that North America seized the largest market share. The U.S. contributed the maximum to expanding the market. The region is technically well-equipped, which is a significant factor in regional market expansion. Besides, the region is making large investments for these technological products, which additionally propels the market.
Moreover, cheap operational cost and the growing deployment of these displays in the health sector has played an important role in expanding the market. On the other hand, the APAC region is estimated to grow at a very fast pace during the forecast period from 2017 to 2023. The factor leading to expansion is the growing demand for consumer electronics and the rising deployment of these technological solutions. Moreover, the APAC region is the manufacturing hub, which additionally propels the regional market.
However, the market has been affected due to the outbreak of COVID-19. The dynamics of the market have changed since several countries are observing nationwide lockdown. The market of several regions has come to a halt.
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