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2023-12-27
2023 is coming to an end, and this year is also an extremely extraordinary one. It has been a year of full struggle, even in the face of increasingly complex and uncertain international environments, many local economies are recovering moderately. From the perspective of the LED display screen industry, in response to the complex and ever-changing external environment and risk challenges, the overall trend of steady recovery continues. The resilience and potential demonstrated by LED display screen enterprises provide strong support for the industry's path forward. New technologies, new applications, new opportunities, and new challenges coexist, and LED displays continue to move forward, which fills people with expectations for the development direction of the industry in 2023 and beyond.
1. The cold winter has dissipated, and the dawn is gradually approaching
Since May 2023, the overall trend of LED display screen exports has been relatively stable. According to customs data, the export volume of LED display screens in the first three quarters of 2023 reached about 7.547 billion yuan, a year-on-year increase of about 3.62%. Meanwhile, in the third quarter of 2023, the sales revenue of small pitch LED displays approached 4.37 billion yuan, a year-on-year increase of 2.4% and a month on month decrease of 1.7%; The shipment area reached 307000 square meters, an increase of 27% year-on-year and 3.8% month on month. From the cumulative perspective of the previous three quarters, the sales volume of small pitch LED displays in Chinese Mainland was 11.7 billion, up 1.0% year on year; The shipment area is 808000 square meters, an increase of 23.1% year-on-year. The recovery of LED business may be approaching dawn.
It is worth noting that industry insiders have analyzed that from the current large screen splicing market, LED small pitch has surpassed LCD splicing in both sales and sales. After years of development, LCD splicing has shown weak product growth, mainly in the monitoring and small area messaging markets, and will generally show a negative growth trend in the next three years. On the other hand, LED small pitch is entering a second growth period under many driving factors such as Micro LED technology, brand, and scene applications. In the future, Mini LED micro pitch products will not be a transitional technology in the TO G TO B market, but will gradually become the main application force in the engineering market, especially products with P0.9.
2. Frequent technological innovation and blooming in multiple fields
Since the beginning of 2023, there has been an endless stream of technological innovations in the LED display screen industry's product terminals, presenting a state of flourishing and competition among a hundred schools of thought. Firstly, in the field of packaging, COB has already established a significant first mover advantage. As a high-end direction of packaging technology, enterprises and brands have fully entered the market, gradually becoming an important product technology trend under the development of LED screen micro spacing. The camp and scale of related manufacturers are rapidly expanding. In addition, COB has the natural characteristics of shorter and simpler process steps. When a breakthrough is made in the transfer of large amounts of processes and costs, there is a possibility of conquering cities and territories. Secondly, Mini/Micro LED display technology and LED virtual shooting have gradually become new additions to the development of the LED market. The Mini LED backlight market has experienced a compound annual growth rate of 50% since entering its first year of growth in 2021; After the maturity of key technologies such as massive transfer, Micro LED is expected to achieve large-scale use in the future; In terms of LED virtual shooting, with the decrease in cost and improvement in efficiency of this technology, it is increasingly being applied not only in the film and television field, but also in variety shows, live streaming, advertising and other scenes.
In the global economic downturn of 2023, LED screen enterprises will continue to actively prepare for future development, improve their supply chain, technology, and human resource layout through cooperation, acquisitions, or mergers, and focus on cutting-edge display technology and applications. With the introduction of relevant innovative terminals to the market and gradually gaining consumer recognition, it is expected to drive the development of the relevant industry chain and add new sources of vitality to the LED display industry. Looking ahead to the future, I believe that with the acceleration of the localization process, we are waiting for domestic manufacturers to gradually reap the fruits of their planting and cultivation.
