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.
Recent Developments:
Restraint:
Growing preference of consumer towards online advertisement is expected hinder the global outdoor LED displays market growth over the forecast period. Online advertising through various social media platforms such as Facebook offers greater reach among target audience for the product. It is far more convenient and effective than outdoor LED displays. Moreover, unlike outdoor LED displays, online advertisement does not require significant amount of investment and is affordable for smalls-sized sellers. Therefore, these products are expected to hamper the global outdoor LED displays market growth in the near future.
| Report Coverage | Details | ||
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| Base Year: | 2021 | Market Size in 2021: | US$ 14,134.88 Mn |
| Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 15.9 % | 2030 Value Projection: | US$ 52,404.14 Mn |
| Geographies covered: |
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| Companies covered: |
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., Shenzhen Dicolor Optoelectronics Co. Ltd. |
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| Restraints & Challenges: |
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Global Outdoor Led Display Market - Impact of Coronavirus (Covid-19) Pandemic :
The COVID-19 pandemic has affected company activity, personal living, and economic growth across the globe. Several enterprises that were prospering prior to the pandemic have faced major revenue losses and seen a slow growth rate. International assignments like Tokyo Olympics, Euro Cup 2020 and Internal Band concerts were postponed and demand for outdoor LED displays declined as social gatherings were banned by the governments of several countries across the globe. Corporate events, musical concerts, and weddings were canceled as LED display and LED walls are used for live streaming the events. As a result, companies manufacturing outdoor LED displays faced major challenges and revenue declined tremendously. Thus, COVID-19 had a severe impact on the global outdoor LED displays market and hence witnessed slow growth.
North America held a dominant position in the global outdoor LED displays market in 2021
Statistics:
North America held a dominant position in the global outdoor LED displays market in 2021, accounting for 31.0% share in terms of market share, followed by Asia Pacific,
Figure 1: Global Outdoor LED Displays Market Share (%), By Region, 2021
North America is expected to account for the largest market share for the outdoor LED displays market during the forecast period. Market players are investing heavily in technological expansions, research and development, and integration of technologies. 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.
Asia Pacific is expected to emerge as the fastest-growing region for the outdoor LED displays market during the forecast years. The use of outdoor LED displays by various sectors such as retail sector, entertainment industry for advertising and promoting the products and content is driving the growth of the outdoor LED displays market in Asia Pacific region.
Monochrome segment is expected to drive the Global Outdoor LED Displays Market growth during the forecast period.
Monochrome LED displays to have several advantages over the full color-out LED displays. They consume low power, are low cost, and small form factor. They also provide flicker-free images and better quality pictures, hence the popularity of monochrome led displays is growing tremendously.
Figure 2: Global Outdoor LED Displays Market (US$ Mn) Analysis and Forecast, 2022 - 2030
Global outdoor LED displays market was valued at US$ 14,134.88 Mn in 2021 and is expected to reach US$ 52,404.14 Mn by 2030, growing at a CAGR of 15.9% between 2022 and 2030.
Major players operating in the global outdoor LED displays market include 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.
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 Drivers
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.
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.
Key features of the study:
Detailed Segmentation
“*” marked represents similar segmentation in other categories in the respective section.
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