Summary of 2023 Policies for New LED Display Screen Industry Market in China
The LED display industry in 2023 will be significantly impacted by a series of policies that necessitate a comprehensive understanding. It is crucial for all stakeholders in the industry to comprehend these policies thoroughly, enabling them to effectively navigate the evolving landscape. By staying well-informed about these policies, businesses can ensure compliance and adapt their operations to align with the new regulations. Industry professionals must stay updated on these developments to make informed decisions and maintain a competitive edge. Therefore, it is imperative for everyone in the LED display industry to carefully review and comprehend the implications of these 2023 policies, strategically positioning their businesses for success amidst changing regulatory environments.
Recently, a series of policies and regulatory documents concerning LED display have been released, including the "Action Plan for Steady Growth in the Electronic Information Manufacturing Industry 2023-2024" jointly issued by the Ministry of Industry and Information Technology and the Ministry of Finance, as well as notifications on application-related matters such as "Virtual Reality Production Technology" issued by the State Administration of Radio and Television.
The two aforementioned policies also exemplify this year's endorsement of LED displays - one aims to facilitate the advancement of LED displays in terms of novel technologies, while the other seeks to foster specific applications and support the implementation of LED displays.
Enhance the proliferation of novel display technologies across various locations.
The "Action Plan for Sustainable Growth of the Electronic Information Manufacturing Industry in 2023-2024" has been jointly issued by the Ministry of Industry and Information Technology and the Ministry of Finance. The Ministry of Industry and Information Technology, in collaboration with the Ministry of Finance, jointly released the "Action Plan for Sustainable Growth of the Electronic Information Manufacturing Industry in 2023-2024" (hereinafter referred to as the "Action Plan").
The "Action Plan" proposes an average annual growth rate of approximately 5% for the added value of the computer, communications, and other electronic equipment manufacturing industries from 2023 to 2024. Moreover, it predicts that the operating income of large-scale enterprises in the electronic information manufacturing industry will surpass 24 trillion yuan during this period. By 2024, China's market share in color TVs with a screen size of 75 inches and above is expected to exceed 25%.
It will also expedite the cultivation of novel growth drivers for audio-visual consumption, foster the high-quality development of emerging sectors such as automotive audio-visual and commercial displays, accelerate the stimulation of consumer demand for OLED TV, Mini LED, 8K, 75-inch and above premium display products, and spearhead the advancement of new-generation color TVs. This technological progress will enhance profitability.
In terms of new displays, we will promote the expanded application of AMOLED, Micro LED, 3D display, laser display, etc., for various industries including smart terminals, cultural tourism, landscape design, commercial displays and more. Additionally, we will support LCD panels and electronic paper to accelerate the adoption of paperless alternatives.
The utilization of LED displays is facilitated by applications such as cultural tourism, metaverse, and virtual photography.
The State Administration of Radio and Television has decided to organize a demonstration showcasing the application of virtual reality production technology for radio, television, and online audiovisuals on September 14th. In this context, the utilization of LED-related technologies was specifically mentioned in relation to virtual reality display technology and key virtual shooting techniques.
In addition to virtual reality and virtual shooting, the development of LED displays has been facilitated this year by market policies and initiatives such as the Yuanverse, urban beautification, night tour economy, and cultural tourism economy.
In July of this year, the National Development and Reform Commission issued the "Measures on Restoring and Expanding Consumption," which encompassed diversifying cultural and tourism consumption while promoting various forms of cultural, entertainment, sports, exhibition consumption, among others. Subsequently, numerous regions also released relevant documents to stimulate the development of cultural tourism and night tours, thereby further augmenting the demand for LED displays. Additionally, LED display-related technologies are explicitly mentioned in diverse emerging scenarios such as metaverse and virtual shooting applications.
Summarize
The development of new displays remains a key focus in various regions this year, with increased investment in LED displays observed across many areas. Furthermore, the growth of multiple markets has contributed to the advancement of LED display technology. Based on relevant policies and documents, the following characteristics can be identified:
01. In terms of consumer products, the focus should be on Mini LED, 8K, and high-end display machines with a size of 75 inches and above. In the fields of new smart terminals, culture, tourism, landscape, commercial display, etc., the emphasis should be on Micro LED and 3D display for accelerating paperless alternative applications.
02. The post-pandemic promotion of cultural tourism, nocturnal travel, and other markets has concurrently stimulated the demand for LED displays.
03. Micro LED is highly valued in virtual reality applications, while in virtual shooting applications, greater emphasis is placed on the overall combination of LED display.
Links: Indoor LED Displays | Virtual Production | XR Stage Videos
