The overall Video Wall market worldwide and had registered a market value of US$ 4.20 Bn in 2018 and is set to grow with a CAGR of 19.8 % during the forecast period.
Market Insights
The global market for video walls is driven by increasing global urbanisation and digitalisation. The use of the internet has increased the digitalisation, which is considered to be one of the main factors driving the video wall market globally, as companies use it for advertising that attracts customers and also increases the customer base. In addition, the education industry uses wall videos to improve the individual’s learning experience, increase communication with students and campus visitors, and others.
Vertically based, the Video Wall market has been segmented as retail, retail banking, fast service restaurants (QSR), corporate government, entertainment, health care, transport, education, etc. The education sector dominates the vertical segment and has a market share of more than 25% in 2018. The education industry uses video walls to provide students with more information and to enhance their experience. Video walls are used for educational purposes in research laboratories, K-12 schools, colleges and universities, campus safety and others. However the corporate segment is expected to be the fastest-growing segment in the near future.
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Asia-Pacific is expected to be the fastest growing region due increasing disposable income among the individuals and declining prices of LEDs and LCDs in the region. Additionally, the presence of various manufacturers such as Toshiba, Samsung, Sony and others for the video walls in the region is expected to drive the market. The China accounts the largest market share in the region due to low cost manufacturing and presence of various local players in the country.
Video Wall with LED Video Wall Display Modules in its Module Segment Continue Dominating the Market
In 2018, the overall market for video walls led the segment of LED video wall display modules in its module to a high percentage of the market share of total revenues generated globally in 2018 and is expected to grow by more than 20.1 per cent during the forecast period. There is an increasing demand of users for LED screens due to technological advancements and their ability to consume less power compared to LCDs. In addition, the LED displays provide high brightness and illumination along with the visual display. Similarly, the increasing demand from advertisers is also driving the segment due to low costs.
North America Dominates the Market by Region
The global video wall market was led by North America with a market share of more than 30.0% in the year 2018. This is due to the increasing disposable income of the individuals in the country and rising advancement in the technology. Moreover, the various companies, industries, advertising companies, hotels, theme parks, and others are using the video walls for attracting the customers. Similarly, the presence of various companies such as Prysm, Inc., and others also provide video walls with laser phosphor display technology which tends to attract various customers in the region.
Some of the prominent players operating in the video wall Navori SA, LG Display Co. Ltd., NEC Display Solutions, Toshiba Corporation, Adflow Networks, Omnivex Corporation, AU Optronics Corp., Panasonic Corporation, Koninklijke Philips N.V., Samsung Electronics Co. Ltd., and Sony Corporation
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