What Has Been The Evolution of the Backlit Displays Market in Recent Years?
The backlit displays market has seen considerable growth due to a variety of factors.
• In recent years, the market size for backlit displays has seen robust growth. The market, valued at $35.92 billion in 2024, is forecasted to increase to $39.31 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 9.4%.
This historical increase is linked to several factors including the shift towards LED backlighting, the emergence of high-resolution displays, the widespread use of smartphones, the expansion of the consumer electronics market, and the growth of digital signage.
What Is the Forecasted Market Size and Growth Rate for The Backlit Displays Market Size In The Coming Years?
The backlit displays market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, the market for backlit displays is projected to experience robust growth, potentially surging to $52.96 billion by 2029 with a compound annual growth rate (CAGR) of 7.7%.
This growth during the predicted period is attributable to innovative automotive displays, growth in augmented and virtual reality, emphasis on energy efficiency, increase in remote learning and employment, and progress in flexible displays. Key trends anticipated during this forecasted period encompass advancements in quantum dot technology, ongoing development of micro LED displays, the incorporation of smart home tech, and initiatives for grid modernization.
What Factors Are Driving Growth In The Backlit Displays Market?
The expansion of e-commerce is anticipated to ignite the growth of the backlit displays market in the future. E-commerce is the practice of purchasing and selling goods and services via the internet or other electronic systems. The rapid evolution of e-commerce, spurred by factors such as ease of access, competitive pricing, and personalized shopping experiences, has revolutionized conventional retail, providing worldwide consumers with comfort and accessibility. Backlit displays play a crucial role in e-commerce platforms, contributing to the creation of attractive and interactive shopping experiences that enhance sales and customer satisfaction. For instance, the United States Census Bureau reported in November 2023 that total e-commerce sales for the year amounted to $1,118.7 billion, a 7.6% increase from 2022. Additionally, in 2023, e-commerce sales accounted for 15.4% of all sales, compared to 14.7% in 2022. As a result, the burgeoning e-commerce sector is fueling the growth of the backlit displays market.
What Are The Main Segments Of The Global Backlit Displays Market?
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
Subsegments:
1) By Trade Show Displays: Pop-Up Displays, Retractable Banners
2) By Fabric Display: Stretch Fabric Displays, Pillowcase Displays
3) By Vector Frame: Modular Frame Displays, Customizable Frame Solutions
4) By Silicone-Edge Graphics (SEG) Popup Display: SEG Fabric Displays, Portable SEG Popup Systems
5) By Other Types: Light Box Displays, LED-Backlit Displays
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What Trends Are Shaping The Backlit Displays Market?
Prominent corporations in the backlit display market prioritize the development of innovative solutions such as Meta Technology, aligning with shifting customer requirements and tastes. The Meta technology applies a micro-lens array and a META booster, with the key objective to elevate the performance of organic light-emitting diode (OLED) TV panels. As an example, LG Display, a display panel producer from South Korea, introduced its META technology in January 2023. This incorporates a Micro Lens Array that optimizes the light emission from the OLED panel, along with a META Booster, an algorithm to enhance brightness. Overall, these elements improve light emission and brightness, resulting in better image quality and an enhanced viewing experience.
Who Are the Key Players In The Backlit Displays Market?
Major companies operating in the backlit displays market are:
• 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.
What Is The Most Dominant Region In The Backlit Displays Market?
North America was the largest region in the backlit display market in 2024. The regions covered in the backlit displays market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
