On October 26, 2023, in Huizhou, Li Jinmin, former director of the Institute of Semiconductors at the Chinese Academy of Sciences and director of the National Key Laboratory of Semiconductor Lighting Innovation, emphasized the expanding scale of China’s LED display market as technology advances and application scenarios broaden.
The remarks were made during the 20th anniversary celebration of Zhouming Technology and the Global Ecological Partners Conference held in Daya Bay, Guangdong. The event brought together industry associations, designers, experts, domestic and international partners, and investors to discuss the future trends and extensive applications of display technology. Lin Mingfeng, chairman of Zhouming Technology, shared that his company is a leader in the global display industry, boasting the world’s largest smart manufacturing base for LED displays. The company operates research and development centers in China, Japan, and the United States, and has an extensive sales network covering over 160 countries and regions, alongside deep collaborations with more than 5,600 partners and more than 20 overseas branches.
Li Jinmin reflected on the evolution of China’s LED industry, noting its transformation from following to competing and eventually leading in certain sectors. “Over the past 20 years, China has become the world’s largest producer, consumer, and exporter of LEDs. Overall, we have a comprehensive industrial chain in semiconductor lighting, with key equipment fully localized and a leading position in patent applications globally,” he stated. According to the China Optical Optoelectronic Industry Association, the overall scale of China’s LED display market reached 75 billion RMB in 2023.
Currently, the application scenarios for LED displays in China are continuously expanding. For instance, regarding X-ray virtual studios, more than ten Chinese companies have entered the XR virtual production solutions market, creating the world’s largest supply chain for this technology. In terms of cinema displays and sound-transparent screens, over 20 models have received DCI certification and are gradually being implemented in cities like Beijing, Shanghai, and Guangzhou. Furthermore, shipments of LED integrated systems have shown stable growth for three consecutive years, with over 5,000 units sold last year in mainland China, representing a 15% year-on-year increase. Micro-LED technology is also beginning to find applications in wearable electronics and high-end large-sized televisions.
Li pointed out that the LED display industry currently faces significant opportunities driven by policy direction, technological advancements, and content upgrades. With the push for small pitch and Mini-LED display products, both domestic and international markets for LED displays are expected to continue growing. In 2023, the combined revenues of six major listed companies in the LED display sector—Zhouming Technology, Leyard, Absen, Lehman Optoelectronics, Lianjian Optoelectronics, and Aoto Electronics—amounted to 21.783 billion RMB, accounting for 30% of the overall market; the top 20 companies’ sales comprised 50% of the national total.
LED display companies are evolving from mere product manufacturers to providers of system solutions, focusing on integration, high density, and miniaturization with Mini/Micro LED technology. During the global ecological partners conference, Zhouming Technology showcased its achievements in various niche areas such as Mini/Micro LED, virtual filming, and stage rental, unveiling its latest products.
