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Global LED Sales Grew 30 Year-on-Year, with Unilumin Taking Centre Stage in the LED Rental Segment
LED Market Analysis and Commentary
12 Dec 2019 - The LED category has been developing at a phenomenal rate in recent years, growing by nearly 30% year-on-year, posting a 5-year CAGR that comfortably surpasses all other display technologies, and which sees Futuresource forecasting annual sales to reach over $11 billion in 2023.
Through this period, the design and innovation of LED manufacturers has kept pace with demand, seeing all aspects of componentry and mechanics develop at breakneck pace. Whilst much of this development has clearly been in response to extremely strong end user demand, manufacturers have also been in a race to move beyond a ‘one size fits all’ approach, to offer far broader product ranges. Futuresource has regularly highlighted this changing approach with vendors solely focused on large pixel pitches rushing to introduce narrower options, the emphasis on customisation gradually giving way to standardisation and products specifically designed to match the demands of individual vertical markets.
The rental market offers a fantastic example of this development. This segment of the market has always been important for LED, fluctuating between 5-15% of revenues across the years. The events market has long been a key revenue driver for the entire Pro AV market, as reflected in the Futuresource work in audio and lighting, but bright spots have come from key segments like corporate events, exhibitions, etc. Even those steadier markets like live and touring have seen budgets increasingly shift to visual, where LED is fast becoming the leading display option.
The exciting shift for the LED industry was always going to be when manufacturers could produce high quality, durable, narrow pixel pitch options. Until recently, this has simply not been practical, but the last 12 months have seen leading LED vendors bringing new products to market, in some instances this has been from vendors with no previous experience in this space. Back to the point of diversifying ranges.
One of the providers that has led the way in this area, and indeed in other areas in LED, is Unilumin. As a main player in fine pixel pitch displays, Unilumin focused on the development of high- tech, high-quality LED products, and solutions, and earned wide market recognition, shown in a recent Futuresource report, Unilumin is #1 in the global rental market. Reflecting this strength, Unilumin Unano series recently won the Golden Pin Design Award, which followed its previous Red Dot design award.
Unano is a high-end fine pixel pitch rental LED unit. The 1.2mm pixel pitch of Unano is the minimum record in the rental industry. High-precision adjustable locks, subsidiary colour magnetic connectors, magnetic modules, dual backup systems of power and signal and COS technology are technical highlights of Unano. Futuresource research shows that Unano is currently widely applied in advanced corporate events, broadcasts and exhibitions.
In this rapidly evolving market, successful brands will continue to be those that push the boundaries and innovate. The future of the LED rental market will be interesting to follow, with plenty of headroom for growth and a clear demand from the channel.
For more information about the global LED market please contact Matthew Ledgerwood via email@example.com
Here at Futuresource Consulting we deliver specialist research and consulting services, providing market forecasts and intelligence reports. Since the 1980s we have supported a range of industry sectors, which has grown to include: CE, Broadcast, Entertainment Content, EdTech and many more.