After the rapid development of the LED display industry in the past few years, currently affected by the downward pressure of the domestic economy and the rise of global tradeism, the growth rate has slowed down greatly compared with the past. my country’s LED display industry started in the 1970s and formed in the 1980s. After more than 30 years of development, through technological transformation, technological breakthroughs, and introduction of foreign advanced equipment and some key technologies, the overall production technology of Chinese LED display companies has been A big leap has been made.  

     
 

　The prospects of the foreign LED display market are promising: According to a report released by the US Department of Energy, the demand for light-emitting diode (LED) lighting fixtures will increase by 7.4% per year; as one of the best lighting markets in the world, the huge potential of the US LED market may be It shows that the entire overseas LED market is ushering in a period of rapid expansion. The U.S. Department of Energy report predicts that the overall size of the U.S. lighting market will reach 25.1 billion U.S. dollars in 2016. The US market is the largest overseas market for Chinese companies, comparable to the whole of Europe.  

 

The huge market and high-speed growth rate are the reasons why many LED display manufacturers have set their sights on overseas. The prospects of the overseas market are very good, so does the domestic LED display market still have a chance? The answer is naturally yes.

 

With the development of the domestic economy, the purchasing power of LED displays will also increase. According to statistics from the Bureau of Statistics, the total retail sales of consumer goods in my country in 2014 increased by 13% year-on-year, 0.3 and 0.1 percentage points faster than in the first half of last year and the first three quarters, showing a steady growth trend. With the accelerated upgrading of my country's consumption structure, residents' demand for high-end consumer products and services continues to increase, and high-end consumer markets such as LED displays are also expected to accelerate growth.

 

Second, my country’s urbanization process is accelerating, and the LED display market in second- and third-tier cities is huge. The city white paper recently published by the National Academy of Sciences mentioned that my country will complete the urbanization coverage rate of about 60% by 2020. It is estimated that by 2020, the consumption output value of LED products by urban households will reach 500 billion yuan.

 

With the implementation of the smart city and beautiful countryside strategy, the domestic LED display market will usher in a new outbreak period. While cultivating overseas markets, display companies should not neglect the large domestic market, otherwise the gains will outweigh the losses.