Outdoor LED Display Market
The global outdoor LED display market is projected to reach over US$ 40 billion by 2025, exhibiting a CAGR of 9.56% over the forecast period (2017 to 2025). The Outdoor LED display market is primarily driven by the innovation and modernization offered by LED lighting systems over incandescent and fluorescent lamps. Additionally, the energy efficiency of LED lights, longer lifetime, HD resolution, good pixel, enhanced physical strength, smaller size, design flexibility, and environment friendly are some factors offering incredible market opportunities for Outdoor LED display manufacturers. Constant new product innovation and integration of advanced technology is a key characteristic of the market, garnering consumer attention. Rampant growth in demand for screen and display backlighting are expected to offer new growth avenues for the outdoor LED display market.
Increased demand for advertising boards, video walls, stadium screens, perimeter boards, and scoreboards is expected to boost the growth of outdoor LED display market size.
Outdoor LED Display Market Share by Product Type, 2025(%)
Source: Source: Coherent Market Insights Analysis, 2017
LED Billboard segment holds the highest market share
Among application type, the LED Billboard segment is estimated to be the leading market in the global Outdoor LED Display Market, due to various features offered such as cost-effectiveness, dynamic content as well as incredible visibility. LED Video wall market is expected to exhibit the highest CAGR during forecast period.
Individually mounted technology segment holds a dominant position
Individually mounted technology segment accounted major market share of the outdoor LED display market in 2016. Growing demand for large screens with high broadcasting distance is expected to boost the growth of this technology. It generates less heat and provides longer life when compared to conventional devices. Additionally, it offers brighter illuminated lighting that is expected to offer better readability compared to conventional billboards.
Surface mounted technology is projected to exhibit the highest CAGR, due to rising demand for energy efficient devices, developing screen dynamics, and low operating costs is likely to boost the growth of outdoor LED display market for various advertisement and sports events.
Full Color Outdoor LED Display Segment is Expected to be the Fastest Growing Segment
In 2016, full color outdoor LED display segment was the leading segment in the market and is expected to lead during the forecast period with the highest CAGR. The beneficial features of full color outdoor LED displays are HD resolutions, high quality pixel, good quality animations and videos, and others. High demand due to its popularity are letting manufacturers to develop innovative full color outdoor LED displays using surface mounted LED display technology. These displays are widely used in various advertising brands from different industries such as automobile, FMCG, food and beverages, textile, and sports and entertainment. Monochrome and tri-color outdoor LED displays are expected to attract market due to its wide usage in applications such as digital signage and scoreboards.
North America accounted for the largest market share
In 2016, North America accounted for the largest share in global outdoor LED display market due to development in semiconductor industry. Bus stops and train stations are expected to observe high deployment of interactive screens due to its energy efficiency, good intensity, good pixel, HD resolution, and longer life span.
Asia Pacific outdoor LED display market is projected to exhibit the highest CAGR during forecast period, because of increasing number of sports activities along with infrastructural development across emerging countries such as India and China. Introduction of new sport events such as Indian Premier League (Cricket), Hockey India League, Indian Badminton League, Pro Kabaddi League, and Indian Super League (Football) are indeed boosting the growth rate of Indian LED display market.
Interactive floor displays specifically designed for the commercial entertainment sector is also expected to witness considerable demand. These floors are available for theme parks, malls, hotels, sports halls, and others. For example, Gulf mall of Qatar has 3D interactive flooring with special effects and product advertisement on digital signs.