2024 LED Display Market Grows 23% Year-on-Year, Leading the Display Technology Track

    Data from relevant research institutions shows that the global LED display market reached $102 billion in 2024, a year-on-year increase of 23%; shipment area exceeded 7.8 million square meters, a year-on-year increase of 19.5%, with growth rates far exceeding traditional display technologies such as LCD and OLED. In segmented markets, small-pitch LED (pixel pitch ≤P2.5) performed particularly strongly, accounting for 48% of retail sales and becoming the market mainstay; although Micro LED is in the early commercialization stage, its compound annual growth rate exceeds 60%, making it highly promising.

In terms of regional markets, the Asia-Pacific region ranks first globally with a 45% share, of which China contributes more than 60%; North America and Europe follow closely behind. Benefiting from the growth in demand for sports events and commercial advertising, both markets achieved growth rates exceeding 20%.

In terms of product forms, innovative categories such as transparent LED screens, flexible screens, and naked-eye 3D screens are accelerating penetration. Take transparent screens as an example: global shipments increased by 42% year-on-year in 2024, widely used in retail window displays and stage design; flexible screens, with their bendable characteristics, have emerged in vehicle-mounted displays and wearable devices. Additionally, the explosive growth of virtual shooting scenarios (such as Hollywood film and television production) has opened up new blue oceans for LED displays, with related demand surging by 67% in 2024.

It can be seen that LED display technology is reshaping the global display industry landscape with innovation-driven and scenario-driven fragmentation as core drivers—small-pitch LED rapidly occupies the mainstream market with cost-performance advantages, while Micro LED opens up future imagination space with ultra-high image quality potential; in regional markets, the synergy of the Asia-Pacific industrial chain led by China is significant, and demand upgrades in Europe and the United States reversely stimulate technological iteration; although cost reduction accelerates popularization, the trends of high-endization and customization, together with the explosion of emerging scenarios such as virtual shooting, vehicle-mounted displays, and wearables, jointly form a closed-loop ecosystem of "technology-demand-application," indicating that the industry will continue to develop in depth toward high-value-added areas.