There aren’t many businesses finding success in the wake of the COVID-19 pandemic. With factory shutdowns and workers staying home, the market has suffered greatly in the past few weeks. However, a bit of backward-looking news is a bright spot for the tech world.
According to a report from Omida’s LED Video Displays Intelligence Service, the global LED display market grew by a whopping 34.7 percent last year. That huge surge is due in part to the fact that more manufacturers are shifting away from LCD and OLED displays and using fine-pixel-pitch (FPP) screens instead.
Consumers will always want more out of their devices. Over the past decade, the boom of consumer technology has paved the way for countless innovations. Crisper, sharper displays are a great example of this.
Each year it seems that flagship smartphones boast a new type of screen that’s better than the last generation’s. Currently, FPP displays, such as micro-LED and mini-LED, are the best on the market.
While these can be used in consumer devices, they are more beneficial for large video displays. FPP LED screens are on the cusp of a breakout thanks to innovations like Samsung’s “The Wall,” a huge 292-inch 8K micro-LED display.
Accordingly, the FPP LED industry showed massive signs of growth in 2019. The 34.7 percent bump reflects an increase in market value from $4.2 billion to $5.7 billion from 2018. In terms of quarterly revenue, the growth was relatively steady. The FPP LED market grew by 15.9 percent quarter-on-quarter.
Julie-Anne Badier, a senior analyst of digital signage and professional displays at Omdia, says, “An increasing number of traditional LCD companies jumped on the FPP LED video bandwagon in 2019, intensifying the level of competition in the market.”
She goes on to discuss the future outlook for the market, saying, “The competitive battle will only escalate in 2020 as FPP continues to get finer and LED video display technology spreads to more application areas.”
Typically, when an industry sees such a rapid bump in growth there is a well-known company leading the way. In the tech world, that’s especially true. Industry giants are often at the forefront of market booms thanks to their massive research and development departments and abundance of funding.
However, a lesser-known company is leading the way for the current FPP LED market’s growth. According to Omdia, Unilumin led the LED video display market in 2019 with nearly 17 percent of the total market share.
As the industry continues to find its way into mainstream devices and digital signage, it will be interesting to see if Unilumin can stay on top or if a Big Tech firm will swoop in for the crown. Regardless, the FPP LED market looks poised for a bright future—even if short term COVID-19 supply chain issues delay it.