Global Outdoor LED Displays Market was valued at US$ 14,134.88 Million in 2021 and is expected to surpass US$ 52,404.14 Million by 2030, registering a CAGR of 15.9% during the forecast period (2022-2030), according to the Global Outdoor LED Displays Market Report, by Mounted Technology (Individually Mounted, Surface Mounted), by Display Color (Monochrome, Tri-color, and Full Color), by Application (LED Billboards, Perimeter LED Boards, LED Mobile Screen, 1 to 30 sq. m., 31 to 60 sq. m., 61 and above sq. m., LED Traffic Lights, LED Video Walls, Indoor Modular Screens, Outdoor Modular Screens, Other LED Matrix Displays), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa), published by Coherent Market Insights.
Outdoor LED displays are used to display images, videos, and texts at crowded places, stadiums or retail stores. Outdoor LED displays include LED billboards, mobile LED screens, perimeter LED displays, LED video walls for indoor/outdoor applications, and LED matrix displays. Outdoor LED displays are available in various sizes, resolutions, and color technologies according to consumer demand. These displays feature at TV studios, airports, aboard trains, at bus stations, retail stores & shopping centers, sports stadiums & arenas, for concerts & live events, building facades, and major streets. Outdoor LEDs save more energy than their contemporaries such as plasma and LCD thereby helping to curb carbon emission.
Increasing number of high-quality construction projects namely multiplexes and shopping malls is expected to boost the global outdoor LED displays market growth over the forecast period. 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 novel technologies has accelerated 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 Developments
- In December 2021, Unilumin Group Co. started the construction of the 4th intelligent manufacturing base in China. The base will cover R&D (Research and development), sales, production, and demonstration of LED full-color displays.
Outdoor LED Display Market- Impact of Coronavirus (Covid-19) Pandemic :
The Covid-19 pandemic has spread across many countries. To curtail the spread of this disease, lockdowns were imposed. Schools, colleges, and businesses were shut down or partially operated. To safeguard the health of the sportspersons involved in major national and international sports events, these events were either postponed or cancelled. Outdoor LED displays are popular in sporting events as they provide live streaming, score update, and good lighting facilities. Hence, the demand for outdoor LED displays plunged during pandemic and the growth of global outdoor LED displays market witnessed slow growth.
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https://www.coherentmarketinsights.com/market-insight/outdoor-led-display-market-956
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Key Trends and Analysis of the Global Outdoor LED Displays Market:
- North America region is expected to exhibit the highest growth rate over the forecast period. Use of LED screens and displays for brand promotions on crowded streets. Use of LED screens and displays for brand promotions on crowded streets. Many end users are adopting outdoor LED displays to promote their brands and products, especially on crowded streets. This offers greater consumer attention and better advertisement for the product. LED billboards at Time Square are seen by millions of people from around the country and by tourists alike; around 23 million viewers visit Times Square each year. For instance, Google became the first company to rent the world’s largest and most expensive LED billboard at Time Square, New York, which was eight-story high and cost US$ 2.5 Mn for 28 days.
- Among application, the LED video walls segment is gaining popularity and is likely to generate maximum revenue during the forecast period. Video walls are large displays and are usually used for displaying content in outdoor areas. Indoor LED video walls are used for information display, entertainment, advertisement, etc. Indoor and outdoor LED video walls provide good resolutions and a calm experience to the viewers. Hence, LED video walls are preferred at both indoor and outdoor events
- Major players operating in 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.
