Future Market Insights (FMI) has recently published a research report titled “Video Walls Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027).” With technology becoming ubiquitous, the implementation of special setups has been intensifying as well. Technology giants are focussing on research and development through financial support and are coming up with new technologies while integrating new features in their products in order to expand their customer base.
One such product that has gained traction over the last couple of years is video walls. The need for large displays and a series of monitors have been steadily rising across newsrooms, conference halls, and concerts. As a result, the market for video walls is expected to witness an outstanding CAGR of 14.1% over the course of the forecast period. The market is expected to rise to a valuation of around US$ 13,966 Mn by the end of 2027 from a valuation of about US$ 3,738 Mn in 2017.
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In February 2016, Samsung launched the first transparent video wall integrated with OLED display technology. It is a four by four video wall with a strong construction and high resolution and is best suited for digital signage applications. The model leverages a novel concept of transparent screens, which can help businesses use the video wall, and even showcase their products on the screen. Other than Samsung Electronics, companies such as NEC Display Solutions, LG Electronics, Koninklijke Philips N.V., Barco, Leyard, Panasonic Corporation, and Christie Digital Systems USA, Inc., among others are also integrating latest technologies in their products.
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.
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 attracts 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.
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However, with the initial investments so high and given the prevalence of traditional advertising platforms, the market for video walls might face a certain hindrance in its growth track. With these roadblocks prevailing, will the demand for video walls still grow at a Herculean rate or slowdown in the near future?