Backlit Displays Global Market Report 2024

The backlit displays market size has grown strongly in recent years. It will grow from $32.79 billion in 2023 to $35.92 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The growth observed in the historic period can be attributed to several factors, including the transition to LED backlighting technology, the proliferation of high-resolution displays, the widespread adoption of smartphones, the expansion of the consumer electronics market, and the growth of digital signage applications. These developments collectively contributed to the advancement and increased adoption of backlit displays, enhancing their performance, visual quality, and versatility across various industries and consumer applications.

The backlit displays market size is expected to see strong growth in the next few years. It will grow to $49.23 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The projected growth in the forecast period can be attributed to several factors, including innovations in automotive display technology, the expanding market for augmented and virtual reality applications, heightened focus on energy efficiency in display systems, increasing adoption of remote work and education solutions, and advancements in flexible display technologies. Major trends expected in this period include advancements in quantum dot technology, ongoing evolution of micro LED displays, integration of display systems into smart home setups, and initiatives focused on modernizing electrical grids. These trends are anticipated to drive the growth of the display industry by introducing new capabilities, enhancing user experiences, and addressing emerging market demands.

The anticipated growth of e-commerce is poised to propel the expansion of the backlit displays market in the foreseeable future. E-commerce, characterized by the online buying and selling of goods and services, has witnessed exponential growth owing to its amalgamation of convenience, accessibility, competitive pricing, and personalized shopping experiences, thereby revolutionizing traditional retail and extending convenience and accessibility to a global consumer base. Backlit displays play a crucial role in e-commerce platforms, facilitating the creation of visually captivating and immersive shopping experiences that drive sales and enhance customer satisfaction. Recent data from the United States Census Bureau indicates a substantial increase in total e-commerce sales in 2023, reaching $1.11 trillion, marking a 7.6% surge from 2022. Additionally, e-commerce sales accounted for 15.4% of total retail sales in 2023, compared to 14.7% in 2022, underscoring the pivotal role of e-commerce in fueling the growth of the backlit displays market.

Leading companies operating within the backlit display market are channeling their efforts towards the development of innovative technologies to cater to the evolving needs and preferences of customers. One such technology is Meta technology, encompassing a microlens array and Meta booster, designed to enhance the performance of organic light-emitting diode (OLED) television panels. For instance, in January 2023, LG Display, a South Korea-based display panel manufacturing company, unveiled Meta technology, featuring a Micro Lens Array optimized to maximize light emission from OLED panels, alongside Meta Booster, a brightness-enhancing algorithm. These components work synergistically to improve light emission and brightness, consequently enhancing image quality and the overall visual experience for consumers.

In May 2023, Samsung Display, a leading display manufacturing company based in South Korea, completed the acquisition of eMagin for $218 million. This strategic move enables Samsung Display to leverage eMagin's direct patterning technology (dPd), known for enhancing the color and brightness of OLED displays. The acquisition empowers Samsung Display to innovate and create new backlit display products, including QD-OLED or QD-LED, by incorporating quantum dot materials to enhance backlighting. eMagin, headquartered in the United States, is an electronic component manufacturer specializing in providing backlit displays.

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.

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. The countries covered in the backlit displays market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A backlit display refers to an electronic screen or panel where light is emitted from behind the display, illuminating the content and making it visible to viewers. The primary purpose of backlighting is to enhance the visibility of images, text, or graphics on the display, particularly in low-light conditions or environments with insufficient ambient light. These displays are designed to improve visual impact and attract attention in various settings, including trade shows, retail stores, and events.

The main types of backlit displays include trade show displays, fabric displays, vector frames, silicone-edge graphics (SEG) popup displays, and others. Trade show displays are structures used to showcase products, services, or information at trade shows, exhibitions, or other events. They utilize various lighting technologies such as light-emitting diodes (LEDs), liquid crystal displays (LCDs), and cold cathode fluorescent lamps (CCFLs) to effectively illuminate content for applications in trade shows, events, shopping malls, theaters, airports, retail outlets, and more.

The backlit displays market research report is one of a series of new reports that provides backlit displays market statistics, including backlit displays industry global market size, regional shares, competitors with a backlit displays market share, detailed backlit displays market segments, market trends and opportunities, and any further data you may need to thrive in the backlit displays industry. This backlit displays market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The backlit displays market consists of revenues earned by entities by providing services such as customization and integration, installation services, calibration and optimization, content creation and management, and rental services. The market value includes the value of related goods sold by the service provider or included within the service offering. The backlit displays market also includes sales of OLED displays, flexible and foldable displays, and automotive displays. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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