The global direct view LED market demonstrated resilience in the face of economic challenges, growing by 1.3% in Q4 2023 compared to the previous quarter and 20.2% year-on-year, according to Omdia.
Asia and Oceania led the growth among major regions, with a 26.5% quarter-on-quarter and 66.7% year-on-year increase, largely driven by India. China’s domestic vendors also reported impressive quarterly sales and a 19.2% year-on-year growth rate. North America experienced a 15.8% year-on-year increase in shipments, despite a seasonal 24.3% quarter-on-quarter decline. Western Europe, however, saw a 7% decrease compared to the previous quarter due to lingering inflation impacts.
Fine pixel pitch (FPP) products, with a pixel pitch of less than 2mm, recorded the largest growth rate at 31.5% year-on-year. All-in-One (AIO) LED video displays also experienced strong growth of 78.3% year-on-year, despite their higher price range, as display vendors target the corporate sector for conference and huddle rooms.
The rental LED product lineup for the virtual production sector emerged as another key growth area. LED video displays used in virtual production for film, TV studios, corporate, and education sectors have seen increased adoption due to cost reduction, convenience, and improved quality compared to green screens. Omdia anticipates rapid growth in LED video display sales for virtual production studios in both corporate and higher education settings in the coming years.
