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%.
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.
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.
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:
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.
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