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Press Release: Outdoor LED Displays Market Is Expected to exhibit a CAGR of 14.6% During the Forecast period (2019-2027)
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Market Overview
Outdoor light-emitting diode (LED) displays are electric and electronic products that include LED billboards, mobile LED screens, LED video walls, perimeter LED displays, LED matrix displays. Outdoor LED displays are available in different sizes, color display technologies, and resolutions as user requirements. Outdoor LED displays use a number of LEDs to display computer-programmed text and images that can easily be changed and updated through suitable software. Furthermore, outdoor LED displays to find major applications at airports, TV studios, aboard trains, bus stations, sports stadiums & arenas, retail stores and shopping centers, music concerts and live events, streets, building facades, etc.
The global outdoor LED displays market was valued for US$ 10,982.1 Mn in 2019 is expected to exhibit a CAGR of 14.6% during the forecast period
Market Dynamics- Drivers
LED displays offer exceptional features such as energy efficiency, extra durability, and are environment-friendly. Strict regulatory policies in Japan and China have increased adoption of outdoor LED displays. The outdoor LEDs save over 50% energy as compared to conventional technologies such as plasma and LCD and also result in reduced carbon emissions. The backlight source of LED displays is made with semiconductors and does not contain any filament or gas, which in turn, enhances durability of the display. Thus, these factors are expected to drive growth of the global outdoor LED displays market during the forecast period.
Sports arenas and open-air venues are ideal venues to target audience for branding and promotion purposes. Sports events and music concerts are broadcast via television across the globe, thereby increasing visibility of LED advertising boards and displays such as LED scoreboards, LED perimeter displays, and stadium screens on television. For instance, in 12 stadiums were selected during the FIFA World Cup 2014 held in June–July 2014 in Brazil, and for the FIFA World Cup 2018 to be held in Russia, 12 stadiums were chosen with an average seating capacity of over 45,000.
Europe region dominated the global outdoor LED displays market in 2014, accounting for 32.4% share in terms of value, followed by North America and APAC, respectively
Source: Coherent Market Insights
Market Dynamics- Restraints
According to Coherent Market Insights’ analysis, average cost for a 3x2 meter display is between US$ 15,000 and US$ 25,000. This is significantly expensive as compared to conventional display technologies such as printed hoardings and textual banners. Since initial installation cost of LED displays is high, it is expected to restrain the market growth in the near future.
Increasing adoption of online advertising among numerous brands, in order to endorse their products in a robust way, is hindering the demand for outdoor LED displays. For instance, the online advertising market in 2012 accounted US$ 117.2 Bn. In 2014, this increased by 12% to reach US$ 133 Bn. Moreover, increasing social media marketing through channels such as Facebook is acting as a restraint for growth of the market and is expected to be a significant challenge for LED display solutions (used in advertisement industry) in the near future.
Market Opportunities
Outdoor LED displays to provide interactive features with support of 3D format that can create potential opportunities for market players. For instance, outdoor LEDs with a touchscreen interface can be installed at retail stores and public places, in order to allow customers to explore information displayed on screen. Moreover, 3D displays provide high definition 3D effects to consumers, which can accelerate adoption of outdoor LED display in the near future.
LED displays are being increasingly adopted in movie theaters and multiplexes to offer audiences high definition, enhanced, and brighter visual experiences. For instance, by 2017, PVR Cinemas in India are set to see adoption of 50 LED screens to offers customers enhanced viewing experience. Moreover, in 2013, Lincoln Theatre in Washington DC deployed an LED screen.
Source: Coherent Market Insights
Market Trends
Even organizers are focused on deploying LED displays such as LED scoreboards, video walls, and perimeter LED billboards in stadiums and even arenas, in order to provide enhanced viewing experience to spectators. For instance, in January 2013, in Indianapolis, U.S., the Pacers installed a 50-foot center-hung twin-screen curved screen to provide a clear vision of scores and replays to spectators.
Since outdoor LED displays offer advanced features such as high definition resolution, good pixel pitch, durability, high brightness, energy efficiency, and portability, they have been adopted for a plethora of purposes including brand advertising and promotional activities. Crowded locations such as popular areas and streets are more preferred for installation of LED displays such as billboards and video walls for brand advertisements and promotions. For instance, in August 2017, SNA, LLC installed a 20-ton LED screen at Times Square containing eight million pixels and measuring 8,500 square feet.
Segment information:
In global outdoor LED displays market, by mounted technology segment, individually mounted sub segment dominated the global market in 2019, accounting for 52.8% share in terms of value
Source: Coherent Market Insights
Competitive Section
Key players operating in the global outdoor LED displays market are LG Electronics Inc., Barco N.V., Galaxia Electronics, Daktronics Inc., Toshiba Corporation, Data Display Co. Ltd., Sony Corporation, EKTA Ltd., Electronic Displays Inc., Panasonic Corporation, Leyard Opto-Electronic Company Ltd., Lighthouse Technologies Ltd., and Shenzhen Dicolor Optoelectronics Co. Ltd.
Key Developments
Outdoor light-emitting diode (LED) displays are composed of electronic products including LED billboards, mobile LED screens, LED video walls, perimeter LED displays, LED matrix displays. Outdoor LED displays are available in various sizes, resolutions, and color technologies according to consumer demand. LED displays are different from other displays by providing remarkable brightness, high intensity and high definition resolution in the screen. Outdoor LED display are used to provide various features such as energy efficiency, durability and environment friendliness. Outdoor LED displays saves more energy as compared to the predecessor technologies such as LCD and plasma. Moreover, the backlight source of LED display is made up of semiconductors helps in improving the durability of the display. Government of various countries such as China and India have started many initiatives and adopting LED displays to save efficiency of the energy. Thus, in turn increases the demand of global outdoor LED display market.
Market Dynamics
High demand for visualization technology and growing number of high profile sports are the factor driving the growth of global outdoor LED display market. LED display provides full HD resolution which increases the quality of the video by adopting advancement in the technology. Rising number of events such as promotion of brands, live concerts and sports events upsurges the demand of outdoor LED display technology. Apart from that, outdoor LED displays are used in various application including weather updates, match score and streaming live news. Sports events and music concerts are broadcast via television across the globe, thereby increasing visibility of LED advertising boards and displays such as LED scoreboards, LED perimeter displays, and stadium screens on television. For instance, in 2014, 12 stadiums were selected during the FIFA World Cup 2014 held in June–July 2014 in Brazil, and for the FIFA World Cup 2018 to be held in Russia, 12 stadiums were chosen with an average seating capacity of over 45,000.
Increasing number of high-quality construction projects such as multiplexes and shopping malls is expected to boost the global outdoor LED displays market. Rising number of commercial infrastructure construction such as shopping malls, multiplexes, and shopping complexes have increased the deployment of LED display matrix, LED billboards, and LED video walls. Advent of technologies enhanced construction activities of high-end shopping malls and complexes, wherein LED video walls, LED screens, and LED billboards are finding increased application of advertisements of their clients. Moreover, multiplexes are deploying high definition LED screens to project movies and videos as a part of paid advertisements for their clients. Thus, these factors are expected to propel the global outdoor LED displays market growth during the forecast period.
Market Taxonomy
This report segments the global outdoor LED displays market on the basis of by mounted technology, by color display, by application, and by region. On the basis of mounted technology, the global outdoor LED displays market is segmented into individually mounted and surface mounted. On the basis of color display, global outdoor LED displays market is segmented into monochrome, tri-color and full color. On the basis of application, global outdoor LED displays market is segmented into LED billboards, perimeter led boards, LED mobile screen(1 to 30 sq. m., 31 to 60 sq. m. and 61 and above sq. m.), LED traffic lights, LED video walls (indoor modular screens and outdoor modular screens) and other LED matrix displays. On the basis of region, global outdoor LED displays market is segmented into North America, Latin America, Europe, APAC, Middle East and Africa.
Key features of the study
Detailed Segmentation:
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Table of Contents
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