Global Outdoor LED Display Market Overview
The key driver impacting the outdoor LED display market is the increasing number of sports and music concerts globally. Many sports, musical, and other events are broadcasted through television, thus making use of LED advertising boards and displays such as LED scoreboards, LED perimeter displays, and stadium screens on television to increase visibility. also, rising energy consumption concerns have encouraged the use of these displays, as it is highly energy-efficient and ensures high cost & power saving. for instance, as per the U.S. office of energy efficiency & renewable energy 2018 reports estimations, the widespread use of the most efficient, connected LED products would amount to over five quads of energy savings, which is about four times higher as compared to present energy savings and equal to about 20% of total building electricity use in a year. In 2018, high LED adoption in the U.S. leads to energy savings of 1.3 quadrillions Btu (quads), equal to $14.7 billion of cost savings for consumers and about 5% of total electricity use from buildings. Moreover, the rising number of current construction projects such as shopping malls and multiplexes that deploy LED displays such as LED display matrix, LED billboards, and LED video walls is estimated to be a significant factor aiding the market growth.
According to Value Market Research, the global outdoor LED display market size was valued at around 11,500 million in 2020 and is estimated to grow at a CAGR of about 9.5% during the forecast period of 2021 to 2027.
The rapidly growing adoption of LED products globally is estimated to augment outdoor LED display demand in the forecast period. for instance, as per the U.S. department of energy, reports estimations, the installations of LED products from 2016 to 2018 have augmented in all applications, approximately doubled to 30.0% or 2,325 million units of all general illumination lighting. there was a greater penetration of LEDs (51.4%) in the outdoor lighting market than indoor lighting (29.8%). the outdoor sector has found greater LED adoption in almost every application. however, high capital investment for fixed installation of LED displays may hamper the global outdoor LED display market in the long run. The rising adoption of online advertising methods negatively impacts industry growth. the current industry trends, such as the increasing usage of LED displays in commercial spaces and the rising preference for LED display advertising over paper or poster-based advertising, are expected to provide market players with several market opportunities.
The outdoor LED display market is vast, with many local and global players. The key leaders follow different strategies to improve their market position, such as contracts, mergers, contracts, extending product portfolio, acquisitions, expansions, and product innovations to augment their market share globally. For instance, in August 2019, LG Electronics Inc. had launched a new outdoor display product for the OOH display market of India. The known players included in the report are LG Electronics, Sony, Panasonic, Toshiba, Electronic Displays, Daktronics, Barco NV, Shenzhen Dicolor Optoelectronics Co Ltd, Lighthouse Technologies Ltd, Leyard Optoelectronic Co Ltd, and Barco NV.
In this research report, the outdoor LED display market is segmented by outdoor LED display by color display,applications, and regions.
Analysis by Color Display:
By color display, the report is categorized as Monochrome, Tri-color, and Full Color. The full-color segment dominates the application segment with over 50% share in 2020. It is due to its ability to present videos, images, and animation of superior quality that makes it extensively applicable across various end-use industries such as sports, textile, entertainment, FMCG, automobile, food, and beverages. Moreover, the growing demand for high sophistication even in basic consumer-oriented applications is the crucial factor responsible for the high demand for full color outdoor LED display in the forecast period.
Analysis by Application:
By applications, the report is categorized as LED Billboards, Perimeter LED Boards, LED Mobile Screen. The LED Billboards segment is dominating the application segment with over 40% share in 2020. It is due to the rapidly growing adoption of LED billboards in the advertisement as it offers cost-effective designs & advanced features for advertising on outdoor LED displays. Moreover, the rising demand for corporate brands to advertise their products through LED billboards at commercial places like shopping malls, railway stations is the significant factor responsible for the growing demand from the LED Billboards in the forecast period.
Analysis by Region:
In the regional outlook of the global outdoor LED display market, the Asia Pacific region dominates with a 45% market share in 2020. The increase in investments by known companies for improving viewer experience is a critical factor driving regional growth. Moreover, the growing marketing and advertising sector across India and China and the rise in promotional events and sports activities contribute to the development of the outdoor LED display market across the Asia Pacific.
Market Segmentation covered in the Report:
By Color Display
- LED Billboards
- Perimeter LED Boards
- LED Mobile Screen
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.