Global demand Outdoor LED Display Market was valued at approximately USD 7.4 Billion in 2019, and is expected to generate revenue of around USD 17.0 Billion by end of 2026, growing at a CAGR of around 11.4% between 2020 and 2026
According to the report published by Zion Market Research, global demand outdoor LED display market was valued at approximately USD 7.4 Billion in 2019, and is expected to generate revenue of around USD 17.0 Billion by end of 2026, growing at a CAGR of around 11.4% between 2020 and 2026.
Global Outdoor LED Display Market: Overview
A flat panel display that comprises a number of light-emitting diodes as the prime element of the video display is known as a light emitting diode (LED) display. LED displays distinguish themselves by the remarkable brightness and illumination, dynamic display of content, and high-definition resolution. The clear illumination and the exclusive display of an array of colors allow them to be used for a range of decorative and informational purposes.
Global Outdoor LED Display Market: Segmentation
The outdoor LED display market is globally segmented into its application, technology, color display, and regions. On the basis of application, the global market is segregated into billboards, video walls, LED matrix boards, perimeter boards, mobile panels, and traffic lights. Based on the technology, the market is categorized into individually mounted and surface mounted. Depending on the color display, the market is divided into monochrome, tri-color, and full color. The diversification of the outdoor LED display market includes North America, Asia Pacific, Europe, and Rest of the World.
Global Outdoor LED Display Market: Growth Factors
The factors that drive the outdoor LED display market is the high demand for visualization technology that is interactive for innumerable applications including scoreboards, video walls, perimeter boards, advertising boards, and stadium screens. The technological advancements that are made in the video displays have led to the expansion of high-resolution signboards, which are being adopted extensively on various occasions for interactive displays. The increasing number of events such as brand promotion activities, live concerts, and sports events in various regions has triggered the demand for the outdoor LED display technology. Besides, the outdoor LED display is also adopted in applications such as weather updates, match scores, and streaming live news. The interactive screens are installed at different public places such as railway stations and bus stops thus opening many opportunities for the market players. With the advancements that are made in the electronics sector, the vendors are offering high-resolution signboards that are used in events such as live concerts, exhibitions, and brand promotional activities. The outdoor LED display technology has a strong competition from the LCD and projector technology segments.
Outdoor LED Display Market: Regional Analysis
Asia Pacific is a dominant market for the outdoor LED display market and is anticipated to develop even better in the coming years. The factor that contributes to the regional market growth is the presence of different regional and global manufacturers and distributors in emerging countries such as Japan, China, and Korea. The other factor that has affected the market growth is the growing demand for energy-efficient and cost-effective monochrome and tricolor solutions that can be used in various public places. The other potential market is the North America for outdoor LED displays. The technological advancements that are made in the sensor technologies and the improved adoption of the services that are cloud based expect to unlock beneficial opportunities for the market players.
Outdoor LED Display Market: Competitive Players
Some of the key market players that are involved in the outdoor LED display market include Electronic Displays, LG Electronics, Panasonic, Daktronics, Shenzhen Dicolor Optoelectronics Co Ltd., Toshiba Corporation, and Sony Corporation.
Outdoor LED Display Market: Regional Segment Analysis
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