LED displays are used by sports clubs, stadium authorities, and sports marketing companies who can get the returns they can pool in through revenue generated by advertisements during matches. LED stadium screens can be monochrome, tri-color, and full color. The global LED stadium screens market focuses on six regions namely North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The global LED stadium screens market is expected to surpass US$ 2,791.6 Mn in terms of value by the end of 2028.
Global LED Stadium Screens Market: Drivers
Increasing number of stadiums is expected to drive growth of the global LED stadium screens market during the forecast period
Increasing demand for scoreboards in the sports arena combined with increasing size of stadiums has led to increased demand for LED displays. Stadiums hosting thousands of people require high-impact, large displays to engage the audience, communicate relevant information, and create a unique viewer experience. English football clubs developing new stadiums or redeveloping the existing ones. These new stadiums are planned to be equipped with LED screens to provide more visibility to the viewers. LED displays to facilitate slow-motion replay, close-ups, giving the audience the perfect visual feast. Stadium LED displays are also used to broadcast live games and connect referee systems. Since sporting events are being broadcasted globally, increase in the visibility of the advertising boards is increasing the deployment of LED boards. Therefore, these factors are expected to propel the global LED stadium screens market growth over the forecast period.
Global LED Stadium Screens Market: Opportunities
Advanced features of LED screens can provide major business opportunities in the global LED stadium screens market
The LED backlight source of LED displays is made up of semiconductors and does not contain any gas or filament, which increases their durability. As a result, LED displays to have a lifetime of nearly 10 years. LED displays offer various features, such as energy efficiency, long lifespan, and controllability. Outdoor LED displays to save 50% more energy than conventional technologies such as LCD and plasma, and also result in reduced carbon emissions. The energy consumption of LED displays depends upon the size, technology, type of display (static or moving), and brightness. LCD based on cold cathode fluorescent (CCFL) backlights are 20% to 30% less power efficient than LED displays. The problem with the CCFL backlighting used in LCD is that fluorescent tubes have to light the entire screen evenly.
Global LED Stadium Screens Market: Recent Developments
In February 2021, Daktronics announced that the company will be providing Power LED Displays at Tampa’s Raymond James Stadium.
In January 2021, Manchester City sports club announced a global partnership with Unilumin Sports, a LED displays solution provider for global sports, focused on its advanced pitchside LED solutions.
In March 2020, Hikvision launched LED display product line specifically to meet the growing market demand for LED displays from enterprise and public safety organizations, advertising companies, and the entertainment industry.
Global LED Stadium Screens Market: Restraints
Rapidly increasing product testing costs is expected to hamper the global LED stadium screens market growth over the forecast period
The product testing cost of LED stadium screens is increasing rapidly. As a result of this, the overall cost of LED stadium screens is significantly high. Hence, these factors are expected to hamper the global LED stadium screens market growth over the forecast period.
Global LED Stadium Screens Market - Impact of Coronavirus (Covid-19) Pandemic
Post COVID-19 pandemic, social and physical distancing measures have disrupted many regular aspects of life, including sport and physical activity. In United States of America, from 3 January 2020 to 5:20pm CEST, 17 September 2021, there have been 41,395,425 confirmed cases of COVID-19 with 663,141 deaths, reported to WHO. As of 9 September 2021, a total of 379,082,955 vaccine doses have been administered. To safeguard the health of athletes and others involved, most major sporting events at international, regional and national levels have been cancelled or postponed. Such scenario may lead to low demand for LED stadium screens.
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- The global LED stadium screens market was valued at US$ 1,696.9 Mn in 2020 and is forecast to reach a value of US$ 2,791.6 Mn by 2028 at a CAGR of 6.6% between 2021 and 2028.
- The Individually Mounted technology segment was valued US$ 5 Mn in 2020 and is expected to witness a CAGR of 5.8% over the forecast period.
North America Trend
The U. S. government has increased emphasis on replacing conventional lighting systems with energy-efficient LED technology. Although the adoption of LED lighting products is increasing, researchers are focused on reducing its cost of production, which could result in lower product prices. Moreover, LED adoption is witnessing high growth due to increasing consumer interest in the adoption of highly efficient and environment-friendly lighting solutions.
The demand for LED displays is high in countries such as the U.K., Italy, France, Poland, the Netherlands, and Russia. The demand for high-quality displays in stadiums with a high return on investments in countries such as Italy, France, and Poland is fuelling the growth of this market. Customers (mostly advertisers) in the European market demand customized features for LED stadium displays. For instance, advertisers try to attract more viewers by displaying visual and interactive messages on LED stadium displays, attracting a large number of viewers in order to enhance their customer base. The market for LED video displays is expected to show the highest growth since they are more suitable and cost-effective than traditional displays used in stadiums to display scores and time.
Global LED Stadium Screens Market: Competitive Landscape
Major companies operating in the global LED stadium screens market are Daktronics, Inc., TechnoVISION SRL, Data Display Co., Ltd., HS Sports Ltd., Panasonic Corporation, Leyard Optoelectronic Co., Ltd., Barco N.V., Mitsubishi Electric Corporation, Shenzhen Dicolor Optoelectronics Co., Ltd., Vegas LED Screens, and The ADI Group.