The emergence and rise of the Internet of Things drives LED lighting to high-value digital lighting with small-scale networking. The integration of personalization and people-oriented smart lighting has become the focus of future industrial development. LED lighting products with high LED luminous efficiency, energy saving and environmental protection are gradually replacing traditional lighting, and the demand for high value, networking, system integration, and personalization has promoted the intelligentization of LED lighting, forming a new round of transformation.
According to LEDinside's cutting-edge research report "2018 Global Display and Micro LED Display Market Outlook", affected by the global economic recession, the overall global LED display market has limited growth, and the market demand for traditional displays is showing a downward trend.
However, due to the development of LED small-pitch displays in recent years, the demand for the display market has opened up again. In 2017, the global LED display market was worth 5.092 billion U.S. dollars, of which indoor small-pitch (P2.5) experienced rapid development in previous years. After that, it will continue to grow. In 2017, the market size was 1.141 billion U.S. dollars, and the CAGR is estimated to reach 12% from 2017 to 2021.