Outdoor LED Display Market Growth Driven by Innovation and Development of Infrastructures
The Outdoor LED display market is mainly driven by industrialization, urbanization, and development of smart cities. The demand for smart and intelligent system is further boosting the growth of outdoor LED display market. Additionally, the energy efficiency, longer lifetime compared to traditional incandescent bulbs, HD resolution, good pixel quality, miniaturization in size, design flexibility, and environment friendly are some of the factors that provides growth prospects for Outdoor LED display market in the near future.
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Additionally, increased demand for advertising boards, video walls, stadium screens, perimeter boards, and scoreboards is expected to boost the growth of outdoor LED display market size during the forecast period.
Key Takeaways of the Outdoor LED Display Market:The global Outdoor LED Display market is projected to reach over US$ 40 billion by 2025, exhibiting a CAGR of 9.56% over the forecast period.
Among application type, the LED Billboards segment is estimated to be the leading market in the global Outdoor LED display market due to various features such as cost-effectiveness, dynamic content as well as incredible visibility. LED Video wall market is expected to grow at a highest CAGR during forecast period.
Individually mounted technology segment accounted major market share of the outdoor LED display market in 2016. Growing demand for large screens with high broadcasting distance is expected to boost the growth of this technology. It generates less heat and provides longer life when compared to conventional devices. Additionally, it offers brighter illuminated display that is expected to offer better readability compared to conventional billboards.
Surface mounted technology is projected to grow with a highest CAGR from 2017 to 2025, due to rising demand for energy efficient device, developing screen dynamics, and low operating costs. This is likely to boost demand for outdoor LED display market for various advertisement and sports events.
The full color outdoor LED displays segment held dominant position in 2016 and is estimated to grow at a highest CAGR over the forecast period. Full color outdoor LED displays have HD resolutions, high quality pixel, good quality animations, and videos. Companies are focused on developing full color outdoor LED displays using surface mounted LED display technology.
In 2016, North America accounted for largest market share in global outdoor LED display market, due to rising technology invention. Bus stops and train stations are expected to observe high deployment of interactive screens due to its energy efficiency, good intensity, good pixel, HD resolution, and longer life span.
Asia Pacific outdoor LED display market is anticipated to grow at a highest CAGR during forecast period, due to increasing number of sports activities along with infrastructural development across emerging countries such as India and China. Introduction of new sport events such as Indian Premier League (Cricket), Hockey India League, Indian Badminton League, Pro Kabaddi League, and Indian Super League (Football) are indeed boosting the growth rate of Indian LED display market.
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Key companies covered as a part of this study include Philips Lighting Holding B.V., General Electric Company, Osram Licht AG, Cree, Inc., Eaton Corporation PLC, Hubbell Incorporated, Dialight PLC, Zumtobel Group AG, Syska LED, and Virtual Extension.
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