Global direct view LED video display shipments increases 18.5% YoY in 3Q23 – Omdia

LONDON – Global shipments for the direct view LED market grew by 23.1% quarter-over-quarter (QoQ) in the third quarter of 2023 and by 18.5% year-over-year (YoY), according to Omdia's latest LED video display market tracker 3Q23.

Direct view LED video display shipment trends vary by region based on the degree of inflation impact

China showed negative growth in the second half of 2022 due to the Chinese government's zero-COVID policy. However, China succeeded in rebounding this year, growing by 23.4% QoQ and 23.6% YoY in the third quarter of 2023. 

In other regions, high inflation levels have slowed the growth rate considerably. Europe's impact from inflation was relatively high, and suffered a decline of 2.1% YoY, in addition to low price competitiveness compared to LCD. 

On the other hand, North America maintained a stable industry despite inflation due to the advantage of its base currency and showed relatively high growth of 15.7% YoY. In Asia & Oceania, increased demand in India helped boost the region’s overall shipments, with relatively high growth of 20.5% YoY.

Sales of products using COB technology are increasing 

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 in the past. However, technology and production capacity improvements of Chinese OEM brands such as MTC and HCP expanded within the past year, allowing major brands to enter the market and offer COB type direct view LED video products in their display portfolio. 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. In fact, according to Omdia's latest LED video display market tracker 3Q23, COB technology grew 31.2% YoY in the third quarter of 2023, while SMD technology grew only 17.9% YoY.

All-in-one direct view LED video display shipments are also increasing based on their clear advantages compared with LCDs in conference rooms

All-in-one (AIO) direct view LED video displays have the flexibility to create larger sizes and various 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 due to production specialties. Demand for AIO dvLEDs are rapidly growing as these displays monopolize the 110-inch and larger area, with LCD offerings limited in this size range. Currently, the largest shipment in the AIO dvLED display market is the 1.5~1.7mm pixel pitch product line that forms FHD in the 130~140-inch range. A 110-inch UHD product that can compete directly with LCD in terms of resolution has been commercialized, but shipments are still minimal due to the high price. Shipments of AIO dvLED product lines increased rapidly since the second half of 2021, growing at a rate of 57.4% YoY in the third quarter of 2023 according to Omdia's LED video display market tracker 3Q23.

Read the full press release here.

Omdia