The global LED display market is warming up in 2021

In 2020, the global LED display video wall market will be affected by the epidemic, and the overall output value will only reach 5.53 billion U.S. dollars, a year-on-year decrease of 12.8%. The decline in demand in Europe and the United States is the most obvious. In 2021, as the overall demand recovers and the upstream component prices increase due to shortages, LED display video wall manufacturers will also increase the prices of their products accordingly. This year, the output value of the LED display video wall market is expected to rise to 6.27 billion US dollars, an annual increase of 13.5%.
TrendForce Consulting added that as the rate of vaccine use in various countries has increased and gradually unblocked, major commercial events and sports events such as the European Football League and the Tokyo Olympics have also resumed one after another, resulting in a gradual recovery in overall demand. In addition, due to the successive increases in the cost of upstream materials such as driver ICs, hardware building materials, and LED devices, in order to maintain basic profits, LED display video wall manufacturers including Leyard, Unilumin, Absen, and Green Hi-tech have successively increased their product prices.
China’s market demand is the first to recover, with the top eight industry players accounting for nearly 60% of the market
Observing the trends in the ranking of LED display video wall manufacturers in 2020, Leyard’s overseas business was affected by the epidemic last year. Despite the decline in total revenue, its market share still reached 11.3%, ranking first in the world; Unilumin Technology is also facing a decline in overseas performance , But under the strategy of expanding the proportion of business in the Chinese market, revenue fell only slightly, ranking second with a market share of 10.8%. Powerful Giant Lottery was mainly based on the Chinese market, and through active sales of channels, Its revenue grew against the trend and ranked third; ranked fourth to eighth also include Green Hi-tech, Hikvision, Samsung Electronics, Absen and Shanxi High-tech Huaye.
On the whole, although the revenue performance of most manufacturers declined due to the impact of the epidemic last year, the major sales markets in Europe and the United States have had a huge impact, including Leyard, Unilumin Technology, and Absen. However, the Chinese-based companies such as Green Hi-tech, Qianli Jucai, Shanxi Hi-Tech, etc., have gradually recovered their demand since the third quarter of last year and reached a peak in the fourth quarter, which in turn boosted the top eight LED displays video wall last year. The market share of screen manufacturers reached 58%, an increase of 4 percentage points from 54% in 2019.

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