Outdoor LED Display Market by Type (Surface Mounted and Individually Mounted) and Application (Billboards, Mobile LED Displays, Perimeter Boards, Traffic Lights, Video Walls, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2027
Global outdoor LED display market was valued at $7.42 billion in 2019, and is projected to reach $11.86 1billion by 2027, registering a CAGR of 9.20% from 2020 to 2027. Outdoor LED displays are big hoardings used to display live advertisements, images, promotional videos, and others. It is usually placed in any open-air or central areas such as avenues, malls, parks, and parking lots. Furthermore, these displays consist of light-emitting diode (LED), which is a semiconductor chip that emits light of different colors with wavelengths in the visible spectrum.
These displays use high brightness LEDs and are extensively used in outdoor applications such as live advertisements, bill boards, and videos walls. Moreover, outdoor LED displays are designed using dual in-line package (DIP) technology, which makes them suitable for any weather and the content on these displays are visible from far off distances during day or night.
Increase in preference of LED display advertising over paper or poster-based advertising, owing to rapid use by sponsors in entertainment shows, sports events, and exhibitions is the major factor the propels the outdoor LED display market growth. Rise in sports events & exhibitions, seminars, ceremonies, and other such events using outdoor LED screen drives the market growth. In addition, surge in energy consumption concerns prompts the use of these displays, as it ensures high cost & power saving, making it highly energy efficient.
However, high initial investments and unstable demand are the major factors that limit the market growth. Conversely, alternative advertisement designs and increase in events such as sports, event management, and transport are some of the factors expected to provide growth for the outdoor LED display market opportunity in the upcoming years.
Outdoor LED Display Market
By Product Type
Surface Mounted segment is projected as one of the most lucrative segments.
Emergence of COVID-19 has declined growth of the market in 2020, and the market is estimated to witness slow growth till the end of 2021. COVID-19 pandemic has adversely impacted the outdoor LED display industry as huge workforce of enterprises across the globe are working from home. This has led to decline in advertising expenditure, which, in turn, reduced demand for outdoor LED screens.
The outdoor LED display market outlook is analyzed by type, application, and region. On the basis of type, it is fragmented into surface mounted and individually mounted. The individually mounted segment dominated the market, in terms of revenue in 2019, and is expected to follow the same trend during the forecast period. On the basis of application, the market is divided into billboards, mobile LED displays, perimeter boards, traffic lights, video walls, and others. The billboards segment dominated the market, in terms of revenue in 2019, however, the traffic lights segment is estimated to witness high growth rate during the forecast period. By region, the outdoor LED display market is divided into North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific dominated the market, in terms of revenue in 2019, and is expected to follow the same trend during the forecast period. The factors such as increased population and considerable investments in sport sponsorships and mega events within the region, attributes to the high growth rate of the Asia-Pacific region.
Outdoor LED Display Market
Billboards segment is expected to secure leading position during forecast period.
Top Impacting Factors
The global outdoor LED display market is influenced by various top impacting factors including rapid growth in digital advertisements, high digital sponsorships & information displays, and power efficiency features. However, high initial installation costs of outdoor LED displays is projected to hamper growth of the market. On the contrary, rise in sports events and alternate LED advertisement designs are expected to provide lucrative opportunities for the market during the forecast period.
Competitive analysis and profiles of the major global outdoor LED display market players such as Barco, Daktronics, Inc., Electronic Displays Inc., Galaxia Electronics, Leyard, LG Electronics, Lighthouse Technologies Limited, Panasonic Corporation, Sony Corporation, and Toshiba Tec Corporation are provided in this report. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their position in the outdoor LED display industry.
Outdoor LED Display Market
Asia-Pacific region would exhibit the highest CAGR of 10.5% during 2020-2027
Key Benefits For Stakeholders
- This study comprises analytical depiction of the global outdoor LED display market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall global outdoor LED display market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current global outdoor LED display market forecast is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the global outdoor LED display market.
- The report includes the global outdoor LED display market share of key vendors and global outdoor LED display market trends.
Key Market Segments
- Surface Mounted
- Individually Mounted
- Mobile LED Displays
- Perimeter Boards
- Traffic Lights
- Video Walls
- North America
- Rest of Europe
- Southeast Countries
- Rest of Asia-Pacific
- Latin America
- Middle East
- Daktronics, Inc.
- Electronic Displays Inc.
- Galaxia Electronics
- LG Electronics
- Lighthouse Technologies Limited
- Panasonic Corporation
- Sony Corporation
- Toshiba Corporation
Post time: Jun-03-2021