For LED video display market.

After an impressive 2018, worldwide LED video display area shipments are expected to expand by 36.7% in 2019 as factors including plunging prices make them a more attractive alternative to projectors and flat panel displays, according to IHS Markit.

Global LED video display area shipments are set to reach 1.1 million square metres in 2019, up from 800,000 in 2018 with revenue amounting to $5.1 billion, compared to $4.8 billion last year.

LED video display technology is rapidly replacing front projectors in large venues, IHS Markit analysis associate director, Tarika Bheda said. “The technology is also aggressively competing with LCD video walls in indoor applications. In addition to declining cost, lifespan, size scalability and seamless image display are the main factors driving the increasing adoption of LED video technology.”

Nearly 50% of LED video displays shipped this year will be installed in indoor applications, with the 2-to-4.99mm pixel-pitch category dominating the market. But it is the smaller-than-or-equal-to 1.99mm pixel pitch category where most of the innovation is taking place, Bheda said, with more brands venturing into this space. “Sellers of projectors and legacy flat-panel displays are expanding their product lines to include fine-pixel-pitch LED video displays to cater to varying customer demands.”

LED video display suppliers have increased their manufacturing capacity significantly during the last few years and competition among brands has intensified, pulling average selling prices (ASPs) lower. However, revenue growth is projected to remain positive as ASP erosion will be balanced by an increase in demand for expensive fine pixel-pitch displays.

LED video demand in Asia pacific is split between countries with high adoption rates, including India, Australia, Thailand and South Korea. IHS Markit expects the Asia Pacific region to expand, as established brands develop their sales structures.