DUBLIN--(BUSINESS WIRE)--The "Outdoor LED Display Market by Type, Application: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global outdoor LED display market size was valued at $6,398.30 million in 2020, and is projected to reach $14,522.40 million by 2030, registering a CAGR of 9.10%.
Outdoor LED display market are big hoardings used to display live advertisements, images, promotional videos, and others. It is usually placed in any open-air and central areas such as avenues, malls, parks, and parking lots. Furthermore, the 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, videos walls, and others. Moreover, outdoor LED display market are designed using dual in-line package (DIP) technology, which makes them suitable for any weather, and the content on the displays are visible from far off distance even during day and night.
Increased preference of LED display advertising over paper or poster-based advertising due to rapid use by sponsors in the entertainment shows, sports events, and exhibitions. Rise in sports events & exhibitions, seminars, ceremonies, and other such events using outdoor LED display industry drives the market growth. In addition, surge in energy consumption concerns prompts the use of these display, as it ensures high cost & power saving, making it highly energy efficient.
This fuels the market growth. However, high initial investments and unstable demand are the major factors that limit the outdoor LED display market growth. Conversely, alternative advertisement designs and increase in events such as sports, event management, transport, and others are some of the factors expected to provide growth opportunities for the outdoor LED display market trends in the upcoming years.
The outdoor LED display market is segmented into type, application, and region. By type, it is bifurcated into surface mounted and individually mounted. By application, it is classified into Pro AV, Digital Signage, Smart Building AV, Billboards, and Others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Market Dynamics
Drivers
- Increased digital advertisements
- High digital sponsorships & information displays
- Power efficiency feature
Restraint
- High installation & initial cost
Opportunity
- Alternate LED advertisement designs
Key Segments
By Type
- Surface Mounted
- Individually Mounted
By Application
- Pro AV
- Digital Signage
- Smart Building AV
- Billboards
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Barco
- Daktronics, Inc.
- Electronic Displays Inc.
- Galaxia Electronics
- Leyard
- LG Electronics.
- Lighthouse Technologies Limited.
- Panasonic Corporation
- Shenzhen Dicolor Optoelectronics Co., Ltd.
- Toshiba Tec Corporation
For more information about this report visit https://www.researchandmarkets.com/r/4rxn3o
