The global light emitting diode (LED) backlight display market would exhibit 6.9% CAGR from 2023 to 2033. It would reach a valuation of USD 141.0 billion by 2033. It is set to exceed a value of USD 72.1 billion by 2023.
LED lighting uses less energy and has a long life expectancy. It has no flickering and includes strong illumination. LED producers are concentrating on adding new features to draw consumers. Natural lighting, proximity sensors, and Wi-Fi are a few new features.
Light emitting diode (LED) backlight display sales would expand by 2033. It is attributed to organization of outdoor events, such as political assemblies, music concerts, and sports. Brand endorsements and product launches would also need to display live video.
Key companies are introducing new products to meet high expectations of their clients worldwide. Nike and W+K Lodge, for instance, developed Creators' Experience.
It is a business that specializes in technologies such as artificial intelligence and virtual reality. It uses projection and object tracking technology. It can make designs of sneakers appear based on a selection made on the video wall.
Rising need for highly interactive digital signage systems will drive light emitting diode (LED) backlight display demand. Difficulty of installing LED backlight displays may hamper their wide adoption.
They also come with high installation costs, particularly in developing nations. Price of a display is mainly affected by mounting style, size, deployment location, and resolution. Hence, key companies are renting out new displays.
Outdoor LED screens are made to provide data in an aesthetically pleasing manner despite challenging climatic circumstances. These include intense heat, dust, and rain.
They will be adopted for usage in advertising boards, perimeter boards, video walls, and stadium screens scoreboards. Expansion of outdoor events would also propel sales.
Demand for LED backlight displays to present data about arrival & departure of flights, trains, and buses would surge. These displays would help to generate high-quality and seamless photographs. Hence, their usage would also expand in malls and stores.
| Attributes | Key Insights |
|---|---|
| Light Emitting Diode (LED) Backlight Display Market Estimated Size (2023E) | USD 72.1 billion |
| Projected Market Valuation (2033F) | USD 141.0 billion |
| Value-based CAGR (2023 to 2033) | 6.9% |
| USA Value-based CAGR (2023 to 2033) | 6.3% |
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Future Market Insights estimates light emitting diode backlight display demand to surpass 6.9% CAGR from 2023 to 2033. It witnessed a steady CAGR of 7.8% in the historical period.
Companies producing electric lighting equipment are concentrating on releasing new items. They want to compete with rivals and increase their market share. Manufacturers are concentrating not only on design but also on introducing energy-efficient products.
They are striving to import technological advances to encourage creation of energy-efficient products. They are also investing in in-house research and development. A few companies are focusing on strategic partnerships.
These initiatives would assist in supplementing light emitting diode backlight display sales. Double boom chandeliers, reflected sequence LED lamps, and Holon spheres are a few examples of recent developments.
Principal Consultant
Asia Pacific would Showcase High Demand for LED Backlight Technology in the Next Ten Years
Asia Pacific reached a valuation of USD 32.51 billion in 2022. Future Market Insights predicts it to reach USD 35.04 billion in 2023. The region would top a valuation of USD 68.52 billion in 2033.
Increasing adoption of backlight LED in the advertising sector would spur Asia Pacific. Backlight LED provides strong flash and fade frequencies. It also assists advertisers in better showcasing their goods.
When compared to fluorescent backlights, LED backlight uses less energy while producing an equal amount of light. When used in billboards, it utilizes 90% less energy than traditional light bulbs. It also has a very low maintenance cost.
Need for LED Backlight Technology to Spur among USA-based Automotive Manufacturers
The USA light emitting diode (LED) backlight display market would total USD 23.4 billion by 2033. Sales are expected to witness 6.3% CAGR from 2023 to 2033. It would create an incremental opportunity of USD 10.7 billion in the next ten years.
USA-based Broadcom Incorporation provides high power LED backlight displays. These are used in electronic signs, automotive, and solid state lighting. Launch of new advanced products would help meet high demand in the USA.
Rising Demand for Smartwatches with LED Backlight Strips in Japan would Augment Sales
Japan light emitting diode (LED) backlight display market would top USD 21.9 billion by 2033. A CAGR of 7.2% would be exhibited by the country in the forecast period. From 2018 to 2022, Japan witnessed 8.1% CAGR.
Tokyoflash Japan recently launched its new On Air LCD watch. It features an ‘always on’ LCD display with LED backlighting. Such product developments by Japan-based companies would help push LED backlight display sales.
Launch of New LED TV Backlight in South Korea to Bolster Demand by 2033
South Korea light emitting diode (LED) backlight display market would reach USD 8.6 billion by 2033. It exhibited a CAGR of 9.3% during the historical period. It would create an absolute dollar opportunity of USD 4.4 billion by 2033.
Samsung Electronics Ltd. recently launched a 43 inch Crystal 4K UHD TV. It has LED backlight display technology.
The backlight is adjusted to suit lighting of the environment. One can control the backlight of their surroundings with the help of a special tab.
LED Backlight TVs to Witness High Demand in China with Launch of New Products
China light emitting diode (LED) backlight display market size would reach USD 35.6 billion in 2033. It exhibited 8.4% CAGR in the estimated time frame. From 2023 to 2033, it would create an incremental opportunity worth USD 19.7 billion.
Shenzhen Refond Optoelectronics Co Ltd develops LED backlight displays. Their displays have high resolutions such as 4K, 5K, and 8K.
Their TVs also have a compact structure and high brightness. Adoption of LED backlight technology by consumer electronics manufacturers would aid demand.
Principal Consultant
LED Backlight Panels to Witness High Demand among Home Users by 2033
Based on application, the home segment would exhibit 6.7% CAGR in the next ten years. It stood at a CAGR of 7.4% in the historical period.
Displays manufactured by LG, Samsung, and Seoul Semiconductors are primarily used in home or indoor applications. They are favored by retail customers. Newly launched products by these companies would help the home segment to expand.
The market is characterized by both large and small-scale competitors. It is extremely competitive. They are pursuing new initiatives to design and produce LED displays for both indoor and outdoor use.
They are developing cutting-edge LED video panels and displays on recent technologies. Technology leaders such as Samsung and Sony Corporation will soon expand their reach and engage in research works.
Few recent developments in the light emitting diode (LED) backlight display market are:
| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 72.1 billion |
| Projected Market Valuation (2033) | USD 141.0 billion |
| Value-based CAGR (2023 to 2033) | 6.9% |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Value (USD billion) |
| Segments Covered | Type, Application, Region |
| Regions Covered | North America; Latin America; East Asia; South Asia and Pacific; Western Europe; Eastern Europe; Central Asia; Russia and Belarus; Balkan and Baltics Countries; Middle East & Africa |
| Key Countries Covered | USA, Canada, Mexico, Brazil, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, India, Gulf Cooperation Council, Australia |
| Key Companies Profiled | Samsung; NICHIA; LG Innotek; Epistar; Lumileds; Seoul Semiconductor; TOYODA GOSEI; Unity Opto Technology; Shenzhen Refond Optoelectronics; Foshan NationStar Semiconductor |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
The market is projected to generate USD 72.1 billion in sales by 2023.
The global market is set to be worth USD 141.0 billion by 2033.
The market is estimated to advance at a 6.9% CAGR through 2033.
From 2018 to 2022, the global market soared at a 7.8% HCAGR.
By 2033, the United States industry is estimated to be worth USD 23.4 billion.
1. Executive Summary | Light Emitting Diode (LED) Backlight Display Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Small Sized LED Backlights 5.2. Mid and Large Sized LED Backlights 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Home 6.2. Communication 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. Asia Pacific 7.5. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Key Countries Market Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. Samsung 15.2. NICHIA 15.3. LG Innotek 15.4. Epistar 15.5. Lumileds 15.6. Seoul Semiconductor 15.7. TOYODA GOSEI 15.8. Value (USD billion) & Volume (Units) Opto Technology 15.9. Shenzhen Refond Optoelectronics 15.10. Foshan NationStar Semiconductor 16. Assumptions & Acronyms Used 17. Research Methodology
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Light Emitting Diode (LED) Backlight Display Market
