What Display Daily thinks: It might be interesting to look the public display market as being a harbinger of economic growth or anemia because the products are closely associated with investments in infrastructure. Where there is growth, there is government support, and developing economies.
Where is a dip, there is a general downturn or slacking in demand, as there is in western countries and North America. Instinctively, it all make sense.
It is, however, somewhat disconcerting. At a time when we should be seeing consistent, maybe even dramatic, growth in display sales, we get a mixed bag that suggests most of the opportunities in the market are short-lived.
The real problem is that public displays are not challenging enough for the round-robin of display industry events that seem focused on bright shiny things, literally, and there is no overarching industry theme of replacing all static information boards and displays with dynamic digital ones.
There is a sustainability and economic reason to digitize public displays at all levels. It could be a glorious crusade to reshape how people are presented with information in public spaces. There is no real vision or substantiation in practice.
It feels like a missed opportunity.
Is it the system integrator and multi-tier channel structure that hinders display manufacturers from pushing the market in any direction? Is it that really is no compelling ROI or sustainability argument? Is it that it is just niche and the world is not ready to move away from static information displays?
We’ve digitized every possible use of printed materials so, why does it feel like it is not going to happen here?
Global Public Display Shipments Decline Amidst Regional Variations
The latest figures from Omdia’s Public Display Market Tracker 1Q24 reveal a global decline in public display shipments, dipping to 1.28 million units from 1.38 million units in the previous quarter. Despite this global downturn, Asia and Oceania posted promising results with nearly 20% quarter-on-quarter (QoQ) and 18% year-on-year (YoY) growth, driven primarily by significant demand in Australia and India.
Asia and Oceania’s uptick in shipments was led by a robust demand for signage and information displays in Australia, which saw a remarkable 38% QoQ increase. Additionally, India exhibited a staggering 59.3% QoQ growth in interactive flat panels (IFP) and touch displays, reflecting a burgeoning demand driven by ongoing infrastructural developments and supportive government policies. Omdia predicts a moderate growth pace for India in 2024 as the country shifts focus to completing current projects and implementing new policies.
Conversely, Western Europe, North America, and China struggled to maintain shipment volumes. Western Europe’s public display shipments slightly decreased to just over 299,000 units from 303,500 units in the previous quarter. The region faced a significant decline in demand for IFP and touch displays, with Germany and Italy experiencing sharp quarterly drops of 19.9% and 41.6%, respectively.
North America continued its downward trajectory, posting a 6.5% QoQ decline in public display shipments following a 19.9% decline in the previous quarter. The region saw weakening demand across all product categories, with signage and information displays and IFP/touch displays experiencing notable declines. Specifically, shipments of signage and information displays fell from over 146,000 units to 138,000 units, and IFP/touch displays dropped from nearly 109,000 units to 99,600 units in 1Q24.
China also reported quarterly declines across all product categories, with IFP/touch display shipments plummeting by 37.8% to just over 165,000 units. This decline led to China’s public display market share shrinking for the third consecutive quarter to 20.5%, placing it behind Western Europe’s 23.3%. However, there is optimism for a recovery in China’s market throughout 2024, buoyed by improved consumer behavior and government financial support.
Among major brands, LG Electronics (LGE) saw a 20% increase in public display shipments in 1Q24, totaling over 154,000 units globally. David Chai, a Research Analyst in Omdia’s ProAV practice, noted that all of LGE’s product categories experienced double-digit growth, particularly in Western Europe, North America, and Asia and Oceania. The top-selling models for LGE were the 43UH5J-H, with 7,402 units shipped, and the 55UL3J, with 5,944 units shipped.
In contrast, Samsung faced a challenging 1Q24, with a 4.7% QoQ decline in global public display shipments. This decline was primarily due to weak demand for its signage and information displays, which saw shipments drop to just over 290,000 units from 306,000 units in the previous quarter. Notably, Asia and Oceania were the only regions where Samsung experienced positive QoQ growth of 4.6%.
