Press Release – updated: Nov 4, 2020 11:56 CST
SHENZHEN, China, November 4, 2020 (Newswire.com) – The outbreak of the COVID-19 epidemic in 2020 has directly affected the overall deployment and marketing of LED screen suppliers. It led to a year-on-year decline in the performance in the first quarter, so the LED display industry is looking forward to the market recovery .
According to relevant data, in the second quarter of 2020, China’s LED display market revenue increased by 34.6% month-on-month and 15.9% year-on-year, of which the highest growth share is the small pixel pitch LED display.
On the other hand, the rental LED display market is sluggish. Compared with the market share of rental LED display outcomes in 2019, which reached 11.4%, the market share of rental LED screens in the second quarter of this year has dropped to the lowest level since 2018, accounting for 4.7% of the overall market.
Due to the continuous growth in demand for fine pixel pitch LED screens, the overall LED display market has rebounded.
First, it completed the delayed projects in the previous quarter.
Second, there is a rapid development in emergency command rooms, monitoring rooms, 5G transportation, smart medical, smart finance, etc.
Third, international increased market demand played a role in promoting market activity. For example, the small pixel pitch demand in Western and Eastern Europe, the Asia-Pacific region, and the Middle East and Africa continues to increase, stimulating market activity.
Frost & Sullivan’s research report on smart cities pointed out that, in the next six years, smart city spending on technology is expected to grow at a compound annual growth rate of 22.7% and will increase from US $96 billion in 2019 to US $307 billion in 2025. Technologies such as artificial intelligence and big data will generate huge demand, population analysis, open data dashboards services. All these applications need fine pixel pitch LED displays.
By 2025, there will be more than 26 smart cities, 16 of which are in North America and Europe. By 2030, more than 70% of global smart city spending will come from the United States, Western Europe and China.
Small pixel pitch LED display technology has achieved rapid development. Around 2014, fine pixel pitch LED displays began to enter the market on a large scale. In 2016, COB technology LED display innovation appeared. In 2018, mini LED displays entered the fine pixel pitch LED displays market.
Found in 2004, YUCHIP is an award-winning, global LED display supplier headquartered in Shenzhen. As an comprehensive LED display manufacturer, we focus on offering top-notch technology and high-performing visual products. Our great range of LED displays includes outdoor LED display, indoor LED screen, rental LED display, transparent LED display, LED poster, church LED screen, flexible LED display, HD LED screen, LED screen panel, indoor fixed LED display, mobile LED video screens, LED wall controller and more.