Video Walls Market Current Scenario Trends, Comprehensive Analysis and Regional Forecast 2022 to 2027
With a predicted CAGR of 12.2% from 2022 to 2027, the worldwide video walls market is expected to generate revenues of US$ 13,965.6 Mn by 2027, up from a total of US$ 6,870.3 Mn in 2021. The market for video walls makes up around 10% of the overall display advertising industry.
A study report named “Video Walls Market: Global Industry Analysis (2013-2021 and Opportunity Assessment (2022-2028)” was recently released by Future Market Insights (FMI). The use of specialised settings has increased as technology has become more pervasive. Technology behemoths are putting a financial emphasis on research and development and developing new technologies while incorporating new features into their goods in order to increase their customer base.
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Video walls are one such item that has become more popular over the past few years. In newsrooms, conference rooms, and concerts, there is an increasing demand for huge displays and a number of monitors. As a result, over the course of the forecast period, the market for video walls is anticipated to register a remarkable CAGR of 14.1%. By the end of 2027, the market is anticipated to have grown from a worth of approximately US$ 3,738 million in 2017 to one of roughly US$ 13,966 million.
A Plethora of Advantages of Video Walls to Trigger Growth in Demand and Adoption
Video walls provide several benefits in comparison to traditional large screen displays. Earlier, large screen displays were being extensively used in numerous applications such as sports, digital signage, and stadiums, among others. However, video walls offer a high quality pixel density and uniform brightness for each and every picture. As a result, inclination towards the deployment of video walls in the aforementioned applications has increased significantly and is expected to gain traction in the long run.
Apart from this, a single video wall has the ability to display multiple pictures in different formats and resolutions that are being sourced from multiple areas at the same time. Moreover, video wall displays are never limited to a particular design and the images can be presented in various creative forms providing high flexibility. Traditional large screen displays are increasingly being replaced by the unusual video wall concept, due to which the video walls market is expected to grow at a healthy rate over the course of the forecast period.
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Integration of IT Technologies Good Sign for Global Market Growth
Continuous technological advancements have led to the development of video walls with enhanced performance and flexibility. Additionally, the development of new technologies in video walls attract customers into buying them and therefore, can pave the way for the market to reap high revenues. For instance, the development of touchscreen video walls can momentously enhance user friendliness for users, thereby fuelling global market growth.
Video Walls Outlook by Category
By Component, Video Walls Market is segmented as:
- Video Walls Hardware
- Video Walls Software
- Video Walls Services
By Display Technology, Video Walls Market is segmented as:
- LED Video Walls
- LCD Video Walls
- Others (LPD, DLP)
By Industry, Video Walls Market is segmented as:
- Government & Public
- Retail & Consumer Goods
- Travel & Hospitality
- Media & Entertainment
By Region, Video Walls Market is segmented as:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific (Excluding Japan)
- Middle East and Africa (MEA)