Global Backlit Displays Market Share Analysis 2024, Forecast To 2033
17 Apr, 2024
The backlit displays market size has experienced robust growth in recent years, climbing from $32.79 billion in 2023 to $35.92 billion in 2024, boasting a compound annual growth rate (CAGR) of 9.5%. This surge in the historical period can be ascribed to the widespread transition to LED backlighting, the proliferation of high-resolution displays, the ubiquitous presence of smartphones driving demand, the expansion of the consumer electronics market, alongside the burgeoning deployment of digital signage solutions. Looking ahead, the market is poised for continued expansion, projected to reach $49.23 billion by 2028, with a forecasted CAGR of 8.2%. This anticipated growth is fueled by innovations in automotive display technologies, the burgeoning adoption of augmented and virtual reality applications, a heightened emphasis on energy-efficient solutions, the escalating demand due to remote work and educational paradigms, and the continuous advancements in flexible display technologies. Foreseen trends encompass the evolution of quantum dot technology, the proliferation of micro LED displays, seamless integration with smart home ecosystems, and concerted efforts towards grid modernization initiatives.
Global Backlit Displays Market Key Driver
The expansion of e-commerce is poised to drive the growth of the backlit displays market in the foreseeable future. E-commerce, defined as the online buying and selling of goods and services, has experienced unprecedented growth fueled by its inherent advantages of convenience, accessibility, competitive pricing, and personalized shopping experiences. This transformation in retail dynamics has extended convenience and accessibility to a global consumer base, fundamentally altering traditional retail paradigms. Backlit displays play a pivotal role in enhancing the visual appeal and interactivity of e-commerce platforms, thereby facilitating engaging shopping experiences that drive sales and customer satisfaction. For instance, data from the United States Census Bureau indicates that total e-commerce sales reached $1,118.7 billion in 2023, reflecting a notable 7.6% increase from the previous year. Moreover, e-commerce sales constituted 15.4% of total retail sales in 2023, compared to 14.7% in 2022. Consequently, the growth of e-commerce serves as a catalyst for the expansion of the backlit displays market, with market size projections extending into 2028.
Get A Free Sample Of The Global Backlit Displays Market ReportGlobal Backlit Displays Market Segments
The backlit displays market covered in this report is segmented –
1) By Type: Trade Show Displays, Fabric Display, Vector Frame, Silicone-Edge Graphics (SEG) Popup Display, Other Types
2) By Technology: Light Emitting Diode (LED), Liquid Crystal Display (LCD), Cold Cathode Fluorescent Lamps (CCFL), Other Technologies
3) By Application: Trade Shows, Events, Shopping Malls, Theatres, Airports, Retail Outlets, Other Applications
By Geography:The regions covered in the backlit displays market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the backlit display market in 2023. The regions covered in the backlit displays market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Backlit Displays Market Industry Players
Samsung Electronics Co. Ltd., NEC Corporation, BOE Technology Group Co. Ltd., LG Display Co. Ltd., Sharp Corporation, Epson America Inc., Acer Inc., Innolux Corporation, AU Optronics Corporation, Tianma Microelectronics Co. Ltd., Japan Display Inc., Barco NV, Visionox Technology Co. Ltd., BenQ Corporation, HannStar Display Corporation, ViewSonic Corporation, Abex Exhibits LLC, Nomadic Display, Featherlite Exhibits Corporation, The Godfrey Group Inc., TPV Technology Ltd, Poster Garden LLC, Megaprint Inc., ABL Imaging Group Inc., Creative Displays Inc., ELO Touch Solutions Inc., Power Graphics Digital Imaging Inc., Redcliffe Imaging Limited, Skyline Exhibits Inc., Camelback Displays Inc.
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Backlit Displays Market Overview
A backlit display refers to an electronic screen or panel where light is projected from behind the screen or display panel, illuminating the content and making it visible to the viewer. The primary purpose of backlighting is to enhance the visibility of images, text, or graphics on the display, especially in low-light conditions or when the ambient light is insufficient. They improve visual impact and attract attention in various settings, such as trade shows, retail stores, and events.
Backlit Displays Global Market Report 2023 provides data on the global backlit displays market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The backlit displays market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.