1、 Market size and structural adjustment
The global commercial display market is expected to reach 255 billion yuan by 2025, a year-on-year increase of 2.3%, with the Chinese market exceeding 59 billion yuan. Although the sales of commercial large screens in China decreased by 4.0% year-on-year to 49.4 billion yuan in 2024, the segmented fields showed structural growth: sales of small pitch LED increased by 14.0% to 11.8 billion yuan, LCD splicing screens increased by 4.8% to 6.9 billion yuan, while interactive whiteboards and advertising machines decreased by 3.5% and 39.4% respectively due to demand fluctuations. This differentiation reflects the market’s preference for high-end and customized products, such as the demand for LCD blackboards in the education sector doubling in two years from 2020 to 2024, driving the mainstream size upgrade from 65 inches to 85/86 inches.
2、 Technological breakthroughs and product innovation
2.1. Micro/Mini LED mass production acceleration
BOE Semiconductor Zhuhai Base will achieve mass production of MLED direct display products in the first quarter of 2025, focusing on the high-end commercial display market; The Micro OLED project of Xitai Technology has been put into operation, with an annual production capacity of 3 million modules, mainly supplying AR/VR terminals. Chenxian Optoelectronics has released the world’s first TFT based Micro LED textured screen, “InviLux”, which supports customized effects such as wood grain and metal grain. The off screen state can seamlessly integrate with the environment, demonstrating its potential in the fields of smart homes and high-end retail.
2.2. Interactive technology upgrade
Technologies such as capacitive touch and laser touch enhance the interactive experience. For example, TCL Commercial has launched technologies such as flat infrared and G-sensor capacitors to meet the needs of medical displays, high-end exhibitions, and other scenarios.
2.3. Large size and transparent display
Omdia predicts that the shipment of 85 inch and above televisions and public displays will increase by 34% by 2025, with the shipment of 100 inch and above LCD TV displays surpassing one million units for the first time. The application of Goodview transparent OLED screens in retail stores provides a new form for window display and digital signage.
3、 Driving factors and policy dividends
3.1. Deepening the digital transformation of the industry
-Smart healthcare: The demand for hospital information display terminals is increasing, such as electronic medical record screens, surgical teaching systems, etc.
-Smart Retail: Costco’s North American stores adopt Hisense advertising screens to promote the large-scale application of digital signage in chain retail.
-Intelligent security: The penetration rate of small pitch LEDs in command centers has increased, and companies such as Hikvision have optimized video surveillance efficiency through AI algorithms.
3.2. Policy support and equipment updates
The National Development and Reform Commission’s 2025 equipment renewal policy will include electronic information, safety production and other fields into the scope of support, superimpose ultra long term special treasury bond funds, and promote enterprises to purchase high-end display equipment. For example, products such as LCD blackboards in the education sector and diagnostic screens in the medical sector benefit from policy subsidies.
3.3. Supply chain autonomy
The domestication rate of core components such as polarizing film and driver IC in China has increased, reducing dependence on imports. Chengdu and other places promote the localization production of key materials such as Mini/Micro LED glass substrates through industry chain investment matching meetings.
4、 Competitive landscape and regional dynamics
4.1. Leading enterprises dominate the market
Liade and Zhouming Technology have a combined market share of over 20% in the small pitch LED market, with Goodview, a subsidiary of Vision Technology, dominating the interactive whiteboard market. Traditional consumer electronics brands such as TCL and Hisense have entered the commercial display field through technological advantages. TCL’s commercial revenue will reach 700 million yuan in 2024, with a goal of doubling to 1.5 billion yuan by 2025.
4.2. Regional market differentiation
-China: Chengdu, Shenzhen and other places attract industrial chain enterprises through policy support, such as Chenxian Optoelectronics signing supply chain projects worth over 60 million yuan with 14 companies.
-Overseas: Hisense has won the bid for Costco’s North American store project, while TCL is expanding its subsidiaries in Southeast Asia to accelerate its global expansion.
4.3. The rise of emerging brands
Juming Technology and other enterprises have rapidly expanded through online channels and customized solutions, with products covering high-end retail, security monitoring, command and dispatch, and other fields, serving large customers such as Bubble Mart and Jilin Municipal Government.
5、 Challenges and coping strategies
5.1. Supply Chain and Cost Pressure
Geopolitics leads to fluctuations in panel supply, and companies diversify risks through the “Mexican assembly+Chinese core components” model. BOE, TCL and other manufacturers have set up factories in Southeast Asia to reduce tariffs and logistics costs.
5.2. Homogenization competition and price war
OvCloud Network pointed out that there is serious homogenization of products in the commercial display market, and manufacturers need to strengthen technological innovation. For example, Chenxian Optoelectronics uses Micro LED splicing optical characterization standards to control the seam width within 20 microns, enhancing product differentiation.
5.3. Demand volatility
The economic downturn may suppress procurement in some industries, and companies need to focus on high growth areas. IDC data shows that the penetration rate of esports displays in small and medium-sized enterprises has increased to 25.9%, becoming a new growth point in the commercial market.
6、 Future prospects
In 2025, the commercial display market will present a trend of “high-end, scene oriented, and globalized”:
-Technology integration: Combining AI, IoT, and display technology to promote innovative applications such as smart cockpits and AR conferences.
-Green transformation: Upgrading energy efficiency standards forces companies to launch low-power products, such as BOE’s MLED direct display products, which reduce power consumption by 30% compared to traditional solutions.
-Accelerating overseas expansion: Domestic enterprises seize market share in emerging markets such as Southeast Asia and the Middle East through localized production and customized services.
Overall, driven by policy dividends and technological innovation, the commercial display industry will become the core engine for the growth of the display industry. It is expected that the market size of typical commercial display products in China will exceed 220 billion yuan by 2026, with a compound annual growth rate of 17%.
