Fine pitch LED Displays White Paper
fine-pitch-led-displays-industry Overview
According to the industry research center, the global LED display market size in 2019 reached RMB 45.2 billion (USD 6.55 billion), out of which fine-pitch (2.5mm or below) products accounted for RMB 17.3 billion (USD 2.5 billion) or 38.23%. Due to COVID-19, it is estimated that the global sales volume of LED displays in 2020 decreased by 8% landing at RMB 41.6 (USD 6.45 billion), and global fine-pitch display sales volume went down by 5%.
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Export data from China Customs shows that the global LED display market began to recover in June 2020. Despite uncertainties in COVID-19 pandemic control, the global LED display market demonstrated confidence in post-pandemic business recovery. 2021 is expected to be back on track with fine-pitch displays making solid progress, especially in the sub-1.5mm segment. Industry forecast shows that the annual compound growth rate from 2021 to 2025 will be more than 21%, and by 2025, the global LED display market size will reach RMB 100 billion (USD 15.5 billion). Most importantly, the market share of the fine-pitch segment will be increased from 38% to 56%, outweighing traditional larger-pitch LED displays.
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Fine-pitch led display market segments overview
Fine-pitch products are mainly used in four market categories: professional display, commercial display, public display, and civil (residential) display, which respectively account for 35.84%, 53.76%, 8.67%, and 1.16% in 2019. Professional and commercial displays are still the dominant fine-pitch product applications. Though still in the early stages of development, civil (residential) display applications such as large-size TVs have great potential as the price comes down.
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In addition to replacing DLP in its existing market, commercial applications, led by boardrooms, meeting and conference rooms, and education facilities with a video wall size larger than 100 inches, are responsible for the market incremental of fine-pitch LED displays.
Another interesting segment fine-pitch displays are exploring is the cinema market. There are already reference cases for fine-pitch LED displays used in cinemas. Whether ifs an appropriate option will be determined after the COVID-19 pandemic. Consumer-grade, large-size LED TVs are another potential segment for fine-pitch. This may be the breakthrough point for fine-pitch LED displays to enter the civil (residential) market.
Major fine-pitch display model and export volume overview.
Currently, typical fine-pitch models are 0.9mm, 1.2mm, 1.5mm, 1.8mm, and 2.5mm. Based on export data from China Customs, the percentage of each product model’s volume in the total fine-pitch export volume is listed below:
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Obviously, finer-pitch models’ volumes are increasing with 1.2mm and 1.5mm sitting in the sweet spots. 2020 was hoped to be the beginning year of explosive growth for sub-1 mm products led by 0.9mm, however, the COVID-19 pandemic interrupted the development pace of the world economy and consequently delayed the progress of sub-1 mm products. It is industry consensus that in the next three years-2021 to 2023-the top three best-selling models will be 1.2mm, 0.9mm, and 1.5mm.
Download fine-pitch-led-displays-white-paper
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