The rise in immersive entertainment is one of the key drivers of the global outdoor LED display market. The growing prevalence of digital billboards underscores advertisers’ preference for dynamic, impactful visual displays that captivate audience attention, thereby propelling the advancement of the outdoor LED display market.
According to Markets and Data Research report, “Global Outdoor LED Display Market Assessment, By Region, Opportunities, and Forecast, 2016-2030F”, the Global Outdoor LED Display Market was valued at USD 6.73 billion in 2022 and is expected to register a CAGR of 11.7% during the forecast period.
Outdoor LED displays provide numerous benefits, such as greater visibility in various lighting settings, energy efficiency, long-term durability in adverse weather, and the ability to display dynamic content. The outdoor LED display market is rapidly expanding, owing to rising demand for digital advertising and branding. Technological developments, such as higher resolution and energy efficiency, add to its attractiveness. The increase in athletic events and outdoor entertainment venues also helps drive industry growth.
Furthermore, as cities expand and important infrastructure, such as transportation hubs, commercial centers, and public spaces, are built, the requirement for effective communication and promotional channels also grows. In line with this, rising population growth in urban areas also intensifies the demand for effective communication and information dissemination, thereby favoring the market growth. Cities, being hubs of economic activity with over 80% of global GDP generated in urban areas, are inclined to invest in modern infrastructure, including digital displays, to enhance productivity and innovation. Outdoor LED displays play an important role in addressing this demand by delivering real-time information to commuters and improving the shopping experience in malls by showing deals and entertaining content. They also delight people in public places while providing lucrative advertising opportunities.
The upsurge in sports and tourism has notably influenced the outdoor LED display market, elevating fan experiences and augmenting the overall allure of sporting events. According to the World Tourism Organization (UNWTO), the industry is expected to grow 17.5% between 2023-2030, with the movement of population within and across the border. Apart from that, the opening and closing ceremonies in the stadiums for major sports events are well organized withoutdoor LED displays, enhancing the viewers’ overall experience. This characteristic draws enterprises from various industries, propelling the outdoor LED display market forward. Overall, these displays are changing how viewers interact with sporting and entertainment material, thus becoming an essential part of modern communication infrastructure in urban areas.
Spread through 290 pages, the “Global Outdoor LED Display Market” report includes an in-depth TOC, over 149 market data figures, the latest market developments, key drivers and opportunities, and a thorough study of major company profiles. Moreover, the report offers strategic recommendations, pricing analysis, market share analysis, and value chain analysis in detail.
Key Takeaways:
- Ongoing smart city developments, the recent launch of new retail and supermarket chains, and increasing investment in sustainable LED billboards are among the key trends accelerating the utilization of billboards across shopping malls, commercial buildings, airports, and others.
- The construction of sports stadiums and increasing concerts, programs, and trade shows, among others, represents some of the vital aspects that will fuel the demand for outdoor LED displays in the coming years.
- The Internet of Things (IoT) integration enables interactive and data-driven content on outdoor LED displays, boosting their usability. This, in turn, has led companies to adopt advanced outdoor LED displays to increase their consumer base.
- Marketers use the real-time adaptability of LED displays to create targeted and compelling outdoor advertising campaigns.
The Global Outdoor LED Display Market is Segmented into the Following Categories:
By Mount Type: Surface Mounted, Individually Mounted
By End-use: Billboards, Mobile LED Display, Perimeter Board, Traffic Lights, Video Wall, Others
By Region: North America, Europe, Asia-Pacific, South America, Middle East & Africa
Based on mount type, surface-mounted outdoor LED displays are the market leaders due to their durability, versatility, and energy economy. They are a popular choice for a variety of outdoor applications since they can survive extreme weather conditions, have a small form for easier installation, and provide excellent brightness and energy savings.
Apart from this, by region, the Asia-Pacificdominates the outdoor LED display market owing to rapid urbanization, robust infrastructure development, and major LED component manufacturing hubs. This region is a key manufacturer and consumer of outdoor LED displays, propelling it to market dominance.
Major Companies Operating in the Global Outdoor LED Display Market Include:
- Barco NV
- Daktronics, Inc.
- Electronic Displays Inc.
- Galaxia Electronics
- Leyard group
- LG Electronics Inc. (LG Corp.)
- Lighthouse Technologies Limited
- Panasonic Corporation
- Samsung Electronics Co Ltd
- Sony Group Corporation
Companies in the outdoor LED display market devote significant resources to research and development, focusing on innovation, technological improvements, and cutting-edge advancements in display technologies, to retain competitiveness and drive market growth.
In March 2023, Absen introduced the MicroLED KLCOB series, a new product to the global market. The product will offer smaller pixel pitch where smaller screen sizes will have higher adaptability to higher resolutions that will follow the needs of 4K and 8K resolutions. The product is made dynamically as it is built on FlipChip technology, that can change the electrical wiring of red, green and blue colors within a single LED.
“Global Outdoor LED Display Market Assessment, 2016-2030F”, evaluates the future growth potential of the global outdoor LED display market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers make investment decisions for their organizations more strategically. Moreover, the report identifies and examines the emerging trends along with key drivers, challenges, and opportunities in the global outdoor LED display Market.
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