B2B display markets took diverging paths in Q3 2022, with flat panel, interactive displays and projection all experiencing different challenges and opportunities. A collection of newly released tracking reports from Futuresource Consulting explores the landscape.
“It’s been a mixed year of struggles and strength in the Flat Panel industry,” says Sean Bradley, Senior Market Analyst, Futuresource Consulting. “Market shares are shifting and macro-economic effects continue to drive change. In Q3 2022, we saw worldwide volume and value growth of 24% year-on-year, and the highest volume for more than eight quarters.”
Digging into the detail, Video Wall has struggled through the year, due to its high reliance on the Chinese market, which has seen it lose ground compared to 2021. Futuresource expects Q4 to deliver weak results as well, with China continuing to struggle with COVID-19 lockdowns.
Conversely, high end displays continue to build momentum, with last year’s annual total already surpassed in Q3 2022. LG leads the charge here, doubling the shipments of its high-end units when compared to the same time last year. Meanwhile, Samsung still retains market dominance, growing at roughly 20% per year in this segment.
Looking to 4k displays, the segment continues to steal market share from 1080p. Futuresource cites a combination of consumer expectation, pressure from vendors and price reductions as the core drivers behind the shift.
“4k continues to take its place as the dominant display resolution,” says Bradley. “We expect to see an 18% increase over 2021’s figures, while 1080p is predicted to fall by 11%. 8k still remains an emerging and far more specialist trend. It is already up 350% in Q3 2022 when compared with the entire 12 months of 2021, yet the unit count stays low with just under 3,000 sold globally so far this year.”
“Interactive Displays have been showing their profit potency, with Q3 2022 the largest ever recorded quarter for global figures,” says Jeremy Wills, Principal Analyst, Futuresource Consulting. “We saw volumes increase by 20% year-on-year, and 72% quarter-on-quarter, achieving just over 1.2 million units.”
China was a major contributor to the impressive Q3 global performance, posting strong Q3 volumes after a depressed first half due to COVID-19.
“Looking to the future, we expect years of continued success for the global Interactive Displays market,” says Wills. “Our forecasts point to a volume CAGR of 24% for 2021 to 2026, with opportunities within corporate as well as education, through a combination of IWB replacement, IFPD churn and new IFPD installations.”
“Front Projection, in line with most segments, has been buffeted by a perfect storm of industry challenges,” says Freddie Mossop, Market Analyst, Futuresource Consulting. “AV vendors are now tasked with balancing rising material, production and logistical costs against a downstream client base where business confidence is at an all-time low.
“Despite this, in 2022 we’ve seen value rising across product segments. The delayed pandemic recovery has resulted in a small year-on-year increase in 2022, though this could be the last increase for projection before we see gradual decline.”
All regions posted increases in Q3, except APAC, which is still stifled by lockdowns in China. This growth coincides with the wider easing of the chip shortage across the tech industry, with substantial increases in the Americas, as the US mainstream B2B market bounced back with vigour.
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