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2024-10-23
In 2024, the LED display market carries new expectations and confidence, entering a new stage of development. Against the backdrop of a slow global economic recovery, what specific changes have occurred in the LED display market? What new trends and characteristics does it demonstrate? This article will find the answer from the 2024 semi annual reports of six major display screen companies.
In terms of overseas markets, TrendForce expects the demand for LED display screens in Europe and America to remain stable in 2024. At the same time, the demand for LED displays in the Asian market, especially in the Middle East and Southeast Asia, continues to grow rapidly and is expected to become the region with the best performance in 2024. Other markets such as Africa, Latin America, and Oceania are also maintaining steady growth.
This market pattern highlights the development potential of the overseas LED display market and brings new opportunities for LED display enterprises. In the first half of this year, overseas markets have become an important driving force for the performance growth of LED display manufacturers.
New applications, new technologies: the "wealth code" of the LED display industry
Faced with fierce competition, enterprises not only need to actively explore overseas markets, but also need to pay attention to the powerful undercurrents and power support hidden in segmented fields under the trend of the industry. LED movie screens and LED virtual filming meet the market's demand for high-quality visual experiences and innovative content production, attracting more investment and attention. These emerging applications not only broaden the market space, but also drive technological innovation, providing diversified sources of income for enterprises and helping them stand out in the fiercely competitive market.
In terms of LED movie screens, TrendForce predicts that the global installed capacity will reach 160 units this year. In the long run, the global market stock of high-end movie screens is approximately 30000 units, but currently the penetration rate of LED movie screens is only 0.5%. This indicates that there is still great potential for the development of LED display technology in the high-end movie screen market in the future.
Since the beginning of this year, the attitude of Chinese cinemas towards introducing LED movie screens has become increasingly positive. As of now (incomplete statistics), more than 50 LED cinemas have been opened nationwide, with an increase of 30 cinemas this year alone. Among them, 10 LED cinemas opened during the National Day holiday (expanded reading: application continues to land, LED movie screens rise). In the future, with the support of a strong LED supply chain, market demand, and policy promotion, China is expected to become a demonstration area for global LED movie screens, and display companies are also expected to benefit from it.
LED display companies such as Liade, Zhouming Technology, and Alto Electronics have passed the DCI certification for the entry threshold of LED movie screens. It is worth noting that Zhouming Technology's latest DCI certified product is a transparent screen display, which not only has high-end display effects, but also solves the technical pain points in LED movie screen sound effects.
In terms of LED virtual filming, TrendForce predicts that with the Thai government providing filming subsidies to foreign film production companies, virtual filming will rapidly develop in Southeast Asia. In addition, the film adaptation of concerts (such as Taylor Swift concerts) has also driven the market for advanced virtual filming, covering fields such as film, television, drama, music, and advertising. Therefore, it is expected that the output value of the virtual shooting LED display market will reach $311 million by 2024.
At present, the development of LED virtual shooting technology has attracted widespread attention from domestic film and television producers, and is gradually penetrating into various fields such as popular TV dramas, short dramas, Beijing Opera films, stage plays, and feature films. As of now (incomplete statistics), there are over 40 LED virtual shooting studios in China (expanded reading: over 40 have been established domestically, accelerating the penetration of LED virtual shooting applications), of which 10 are newly opened this year. The main suppliers include Zhouming Technology, Liade, Abbison, Alto Electronics, Lianjian Optoelectronics, Lehman Optoelectronics, etc. This trend shows that virtual photography is becoming a new growth point, which means that the application of LED technology is constantly expanding, opening new doors of wealth for enterprises.
In the face of market competition, the "wealth code" of the LED display industry lies in constantly exploring new application areas. Whether it is LED movie screens or virtual shooting technology, enterprises need to seize these opportunities, promote technological innovation and market layout, in order to gain an advantage in the future market and achieve sustainable growth. By strategically shifting towards these emerging applications, LED companies can stand out in fierce competition and create new wealth.
In addition, technological development is also a key factor for LED display companies to further unlock the industry's "wealth code".
In the field of Mini/Micro LED display technology, Mini LED products are constantly emerging, Micro LED large screen displays are developing towards diversification, and the era of Micro LED headlights is also accelerating. TrendForce predicts that the Micro LED TV market output value is expected to reach $185 million by 2025, with a compound annual growth rate of 119% from 2023 to 2028. In this context, display companies are expected to benefit from the opportunities presented by the development of Micro LED.
In terms of packaging technology, MiP technology is poised to take off, and the cost reduction process of COB is accelerating. Virtual pixel technology provides a new solution for cost reduction of COB, which helps improve display performance and reduce manufacturing costs.
At the same time, the application of AI is constantly enhancing, enabling display devices to have higher levels of intelligence in image processing, user experience, and personalized recommendations. In addition, the popularity of emerging applications such as 5G and AR/VR has driven the growing demand for high-resolution and high-performance display products. The advancement of technology not only improves the performance of display products, but also opens up new market opportunities for enterprises. Therefore, keeping up with the pace of technological development will be the key to achieving sustained growth for enterprises.
