All-in-one LED display sales soar 57.4% year on year

All-in-one LED video display shipments are increasing based on their clear advantages compared with LCD displays in conference rooms, according to market researchers Omdia.

Shipments of all-in-one LED product lines have increased rapidly since the second half of 2021, growing at a rate of 57.4% year on year in the third quarter of 2023, according to Omdia’s LED video display market tracker.

All-in-one LED video displays have the flexibility to create larger sizes and varied aspect ratios compared to LCD products. However, the resolution is generally lower than that of LCDs, and it is difficult to implement highly sensitive touch functions with them.

Despite these limitations, demand for all-in-one LEDs is rapidly growing and these displays monopolise the 110″ and larger area, with LCD offerings limited in this size range, Omdia says.

Currently, the largest shipment in the all-in-one LED display market is a 1.5~1.7mm pixel pitch product line that forms FHD in the 130″ to 140″ range.  A 110″ UHD product that can compete directly with LCD in terms of resolution has been commercialised, but shipments are still minimal due to the high price, Omdia adds.

As the price competitiveness of LED improves overall in the future, direct rivalry with LCD based on resolution is expected to intensify, especially in the corporate and conference room market. LED is also expected to drive further growth in the entire digital signage display market, with a high growth rate in the future.

Meanwhile, sales of products using Chip On Board (COB) technology are increasing, growing 31.2% year on year in the third quarter of 2023, compared to growth of just 17.9% for Surface Mount Device (SMD) products.

Initially, the barrier to entry for producing and selling COB products was relatively high because initial costs and design technology on a PCB board were required to set up the production process. However, technology and production capacity improvements at Chinese OEM brands such as MTC and HCP in the past year have allowed major brands to enter the market and offer COB-type LED video products.

COB technology can achieve improved quality compared to SMD technology in terms of screen uniformity, durability, heat generation, and power consumption management. Additionally, the price gap has narrowed as well compared to SMD technology, attracting more brands and end users.

Overall, global shipments in the LED market grew by 23.1% quarter over quarter in the third quarter of 2023 and by 18.5% year over year, according to Omdia’s LED video display market tracker 3Q23.

However, inflation has hindered revenue results, with global revenue up only 13.9% quarter over quarter and 7.7% year on year in the third quarter of 2023.

Sales by region varied widely with China rebounding this year, growing by 23.4% quarter on quarter and 23.6% year on year, after negative growth in the second half of last year due to the Chinese government’s zero-Covid policy.

North America achieved stability despite inflation thanks to the the role of the dollar and showed relatively high growth of 15.7% year on year. In Asia and Oceania, increased demand in India helped boost the region’s overall shipments, with relatively high growth of 20.5% year on year.

In other regions, high inflation levels have slowed growth considerably. The impact of inflation on Europe was relatively high, and LED sales suffered a decline of 2.1% year on year in addition to low price competitiveness compared to LCD.

“End users and system integrators affected by inflationary pressures downgraded their choices to cheaper products in their class, or chose wider pixel pitch products at a lower price, while compromising on achieving higher resolution,” said Tay Kim, senior principal analyst at Omdia, speaking of overall LED sales figures. “In fact, fine pixel pitch products of 2mm or less only grew by 18% year on year for third-quarter results in 2023, while the wider indoor product line of 2~4.99mm showed a higher growth rate of 29% year on year.”