LED Film Screen Market Is Estimated To Witness High Growth Owing To Increasing Demand For Energy Efficient Large Screen Display Solutions

The LED Film Screen Market is estimated to be valued at US$ 3.53 Bn in 2024 and is expected to exhibit a CAGR of 9.8% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

LED film screens are gaining prominence over traditional display technologies such as LCD and plasma due to their superior optical quality, energy efficiency, wide viewing angles, and thin form factor. Their ability to produce vibrant colors and images without generating significant heat allows them to reduce energy consumption by nearly 50-60% compared to other display technologies. They also have a longer operational lifespan of around 100,000 hours without significant degradation in brightness or color, thus lowering overall operational costs. Additionally, LED film screens produce uniform light without glare or hotspots, and their modular design enables seamless multi-panel video walls of nearly any shape or size.

Key Market Trends: The Mini LED display technology is emerging as a popular trend in the LED film screen market. Mini LED displays leverage miniature LEDs less than 0.2 mm with driver ICs placed at the back. This helps drive thinner and lighter displays with improved contrast, local dimming, and higher brightness compared to traditional LED-backlit LCD displays. Companies are actively investing in Mini LED to launch new LED display products. For instance, in 2022, Samsung unveiled ‘The Wall’ – the world’s first 360-degree LED display using Mini LED technology.

Increasing adoption in indoor applications such as retail stores, corporate offices, airports and educational institutions. LED video walls and signage are ideal for visual marketing in such spaces due to vibrant image quality, wide viewing angles and low maintenance needs. More coverage can be found in the sample copy.

LED Film Screen for Outdoor Opportunities:  The outdoor advertising segment is expected to witness significant growth over the forecast period. LED film screens can be mounted on large outdoor surfaces like billboards along highways and busy roads. They provide high brightness even under direct sunlight which makes them an effective medium for outdoor advertising. LED film screens are becoming increasingly popular for digital signage and advertising in public places like airports, bus stations and metro stations where traditional display units may not be suitable. Their thin, lightweight and flexible nature allows for easy installation on non-standard surfaces.

With the growing installation of LED screens at sports stadiums and arenas, this segment is poised to create multiple opportunities over the next few years. LED film screens are ideal replacements for conventional scoreboards due to advantages like higher resolution, clearer image quality, enhanced viewing angles and versatility. They can be customized into various shapes and sizes to match the architectural geometry of any venue. Besides real-time scoring and statistics, LED screens enrich the viewer experience by broadcasting live videos, replays, advertisements and other graphics. As more sports complexes upgrade their infrastructure, this will drive significant demand.

Key Market Takeaways: The global LED film screen market is anticipated to witness a CAGR of 9.8% during the forecast period 2024-2031, owing to growing adoption in outdoor advertising, sports venues, retail stores and public transport systems.

By Type, the flexible LED film well type segment is expected to hold a dominant position, accounting for over 60% share by 2031 due to benefits like lightweight structure, shatter-proof panels and lower installation and operational costs.

By Application, the outdoor advertising segment is projected to hold the leading market share through 2031 due to advantages of LED film screens like high brightness and customized surface mounting for versatile digital signage solutions.

Regionally, North America is expected to dominate the global LED film screen market over the forecast period due to large-scale installations in sports stadiums, retail malls and transportation hubs within the region.

Competitor Insights: Unilumin, Lighting Science, ClearLED, Rosenberger, LG Electronics, Absen, Yaham Optoelectronics Co, Leyard, Sansi, Liantronics, Konka, Barco

Recent Developments in LED Film Screen Market: The LED film screen market demonstrated very healthy growth during June-August 2023 owing to factors discussed above. Various industry reports projected 2023 revenues for LED film to touch $3 Billion globally, up from $1.8 Billion in the previous year. Despite short term risks around economic uncertainties, commercial prospects look bright in the medium to long term supported by the technology’s scalability to large formats, high resolution and value advantages over predecessors.

The global LED film screen market is forecasted to have a strong CAGR of over 17% during 2024-2027 period according to market intelligence firms. Key industry participants are also upbeat about the technology’s market potential and have outlined capacity expansion plans for the next 2-3 years. If technological and commercialization hurdles are adequately addressed, LED film screens seem positioned for continued dominance in large format commercial displays worldwide. Full coverage of the report available here.