With the continuous advancement of science and technology and the advent of the digital age, LED display, as an advanced display technology, is leading the innovation trend in the display field with its unique charm and excellent performance. It not only shows a wide range of application value in indoor and outdoor advertising, information release, stage performances and other fields, but also shows great development potential in emerging fields such as smart cities, intelligent transportation, virtual reality, etc.

1. Overview of LED Display

LED display is a display screen that displays various information such as text, graphics, images, animations, quotes, videos, and video signals by controlling the display mode of semiconductor light-emitting diodes. It integrates microelectronics technology, computer technology, and information processing, and has the advantages of bright colors, wide dynamic range, high brightness, high clarity, low operating voltage, low power consumption, long life, impact resistance, and stable and reliable operation.

2. LED display industry development policy

In recent years, the country has successively introduced a number of policies to encourage the development and innovation of the LED display industry. Policies such as the "Implementation Opinions on Promoting the Innovation and Development of Future Industries", the "Action Plan for Steady Growth of the Electronic Information Manufacturing Industry in 2023-2024", and the "Implementation Plan for the New Industry Standardization Pilot Project (2023-2035)" provide a clear and broad market prospect for the development of the LED display industry and provide a good production and operation environment for enterprises. The specific policies are as follows:

III. Development Status of the LED Display Industry

1. LED Display Market Size

LED display is an important carrier of LED display technology. With the improvement of LED display manufacturing technology, the resolution of traditional LED display has been greatly improved. The "2024-2029 China LED Display Market Status and Future Development Trends" released by the China Business Industry Research Institute shows that the overall market size of my country's LED display will be about 53.7 billion yuan in 2023, an increase of 8.9% year-on-year. Analysts at the China Business Industry Research Institute predict that the market size of LED display will increase to 63.4 billion yuan in 2024.

2. Small-pitch LED display

Small-pitch LED display refers to indoor LED display with an LED dot pitch of P2.5 or less. The "2024-2030 China Small Pitch LED Screen Industry Market Status Survey and Development Trend Forecast Research Report" released by China Business Industry Research Institute shows that the sales of China's small pitch LED display market in 2023 will be 15.5 billion yuan, a year-on-year decrease of 6.1%; the shipment area will be 1.084 million square meters, a year-on-year increase of 16.7%. Analysts from China Business Industry Research Institute predict that China's small pitch LED display sales will reach 17.4 billion yuan in 2024, a year-on-year increase of 11.8%.

3. The proportion of each pitch of small pitch LED display

In China's small pitch LED display market in 2023, LED display screens with P1.4-1.1 and P2.0-1.7 pitches account for a large proportion, 29.60% and 26.70% respectively. Secondly, LED display screens with P1.6-1.5 pitches account for 21.00%.

4. Application proportion

Benefiting from policies and markets, LED display screens are gradually moving from professional display fields such as security, transportation, and energy to commercial display fields such as cinemas and conference rooms. At present, the outdoor application market of LED display screens in my country accounts for 59%, while the indoor application market accounts for 41%.

IV. Key enterprises in the LED display screen industry

1. Leyard

Leyard Optoelectronics Co., Ltd. was established in 1995. It is a high-tech enterprise specializing in the research and development, design, production, sales and service of LED application products. It is committed to providing customers with efficient, energy-saving and reliable LED application products and overall solutions. At present, the LED application products produced by Leyard Optoelectronics Co., Ltd. mainly include six categories: LED full-color display products, system display products, creative display products, LED TVs, LED lighting products and LED backlight sign systems.

In the first quarter of 2024, Leyard achieved operating income of 1.80 billion yuan, a year-on-year increase of 1.02%; net profit attributable to the parent company was 101 million yuan, a year-on-year decrease of 17.01%.

In 2023, Leyard's main businesses include smart display, cultural and tourism night tours, AI and spatial computing, accounting for 85.36%, 9.78% and 4.61% respectively.

2. Unilumin Technology

Shenzhen Unilumin Technology Co., Ltd. was established in 2004. It is a supplier of LED display and lighting products and optical display solutions with optical display technology as its core. The company has 1,898 patents and is the first in the industry to open up the technology trends and industrialization process such as MiniLED display, LED small pitch, smart lighting, 5G smart pole, 5G+8K, XR virtual scene, and naked-eye 3D creative optical display.

In the first quarter of 2024, Unilumin Technology achieved operating income of 1.492 billion yuan, a year-on-year decrease of 8.31%; net profit attributable to the parent was 19 million yuan, a year-on-year decrease of 86.56%.

In 2023, Unilumin Technology's main businesses include smart display, smart lighting, and cultural and creative lighting, accounting for 90.22%, 7.43%, and 1.29% respectively.

3. Hikvision

Hangzhou Hikvision Digital Technology Co., Ltd. was established in 2001. It is a global high-tech enterprise specializing in the research, development, manufacturing, sales and service of video surveillance system solutions and products. Hikvision's main business is intelligent security. With its customer resources and system integration capabilities in the security field, Hikvision has made significant progress in the LED display business in recent years and has expanded production many times. At present, Hikvision's LED display product line includes indoor full-color small-pitch display screens, transparent LED screens, outdoor LED screens, information release screens, traffic guidance screens and other forms.

In the first quarter of 2024, Hikvision achieved operating income of 17.82 billion yuan, a year-on-year increase of 9.98%; net profit attributable to the parent was 1.916 billion yuan, a year-on-year increase of 5.78%.

4. Absen

Shenzhen Absen Optoelectronics Co., Ltd. was founded in 2001. Its main business focuses on advertising display, stage display, commercial display, data visualization display, conference display, consumer-grade display and other fields. Its products are exported to more than 140 countries and regions in the Americas, Europe, Australia, Asia, Africa, etc. At present, more than 50,000 application instances have been successfully implemented. Excellent product cases include Hollywood, Disney, Universal Studios, World Cup, European Cup, NBA, New York Times Square, and various large-scale media events. The export volume of single-brand display products has been ranked first in the industry for 12 consecutive years.

In the first quarter of 2024, Absen achieved operating income of 864 million yuan, a year-on-year increase of 21.87%; net profit attributable to the parent was 71 million yuan, a year-on-year decrease of 10.28%.

In 2023, Absen's main businesses include LED display screens, LED display screen hotel operation services, and energy storage equipment, accounting for 96.59%, 2.45%, and 0.09% respectively.

5. Qiangli Jucai

Founded in 2004, Qiangli Jucai is a world-renowned LED display product and solution provider, providing visual intelligent display terminals for users in the field of government public services, commercial users, and home users around the world. Qiangli Jucai focuses on the research and industrialization of cutting-edge technologies such as small-pitch LED display, MiniLED display, MicroLED display, big data intelligent interactive display technology, new materials, LED green environmental protection, intelligent human-computer interaction, multi-screen interaction, and intelligent broadcast control. The company's products are sold to more than 130 countries and regions around the world, and are widely used in smart conference display, security monitoring, command center, radio and television broadcasting, exhibition display, stage rental, advertising media, digital signage, door window, smart city and other fields.

V. Development prospects of LED display industry

1. Industry standardization and normalization to promote healthy competition within the industry

With the continuous development of the industry, the standards of the LED display industry are also constantly improving. For example, the release of the "General Technical Specifications for MicroLED Displays-Medium and Large Size Displays" not only clarifies the definition of MicroLED chips, but also stipulates the technical requirements and quality inspection specifications for medium and large size MicroLED displays, which will help promote technological progress and standardized development of the entire industry. This standardization and normalization will promote healthy competition within the industry and improve the overall technical level and product quality of the industry.

2. Large-scale production and market expansion drive industry development

The LED display industry has achieved large-scale production, not only dominating the domestic market, but also gaining a significant share in the global market. This large-scale production not only reduces production costs, but also improves product quality and reliability. At the same time, domestic LED display companies have performed outstandingly in the construction of major projects and key projects, further enhancing their international competitiveness.

3. Expanding application areas to promote industry development

The application areas of LED display screens are very wide, not only including traditional occasions such as advertising and conferences, but also gradually expanding to emerging fields such as wearable devices, consumer electronics, and automotive displays. In particular, the development of Mini/MicroLED technology has greatly improved the resolution of LED display screens and reduced the viewing distance, further expanding the application areas of LED display screens. In the future, with the continuous advancement of technology and the continuous expansion of application areas, the prospects of the LED display screen market will be broader.

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