The Global Outdoor LED Display Market size was valued at USD 7.23 Billion in 2022 and is expected to surpass USD 27.28 Billion by 2031, expanding at a CAGR of 15.9% during the forecast period, 2023 – 2031. The growth of the market is attributed to uninterrupted advertising, which increases deployment in car showrooms, real estate offices, shopping malls, and retail outlets.
Outdoor LED displays are designed for 24/7 outdoor display applications such as digital signage, broadcast, and advertising.
Market Trends, Drivers, Restraints, and Opportunities:
Factors such as environmental friendliness, energy efficiency, impact resistance, and durability are estimated to drive the outdoor LED display market.
Increasing sports activities along with rising promotional activities of corporate brands have encouraged sponsors to advertise their applications, which are expected to fuel the market.
Various government initiatives and strict rules regarding emission of light are projected to boost the market.
High costs as compared to local LCDs and lack of raw material hinders the outdoor LED display market.
Scope of Outdoor LED Display Market Report
The report on the outdoor LED display market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Outdoor LED Display Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Applications (LED Matrix Boards, Perimeter Boards, Traffic Lights, Video Walls, Billboards, and Mobile Panels), Color Displays (Full Color, Monochrome, and Tri Color Displays), Technology (Individual and Surface Mounted)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
LG Electronics, Panasonic, Electronic Displays, Sony, Toshiba, Shenzhen Dicolor Optoelectronics Co Ltd, Daktronics, Lighthouse Technologies Ltd, Barco NV, and Leyard Optoelectronic Co Ltd.
Outdoor LED Display Market Segment Insights
The LED billboard segment held a major share of around 40% of the total revenue in 2018
Based on applications, the global outdoor LED display market is segregated as LED matrix boards, perimeter boards, traffic lights, video walls, billboards, and mobile panels. The LED billboard segment is anticipated to expand at a substantial CAGR during the forecast period. Increase in advertising campaigns by various corporate brands is expected to propel the segment. Increasing attraction towards sports has led to construction of new stadiums and upgradation of existing stadiums, which is expected to fuel the demand for the perimeter board market.
The full color display segment was valued at USD 800 billion in 2018
On the basis of color displays, the global outdoor LED display market is fragmented as full color, monochrome, and tri color displays. The full color display segment is expected to expand at a rapid pace during the forecast period. The growth of the segment is attributed to its ability to display high-quality images, animations, and videos. Features such as easy 4G and WIFI connection reduces the complications of wiring and are expected to boost the market.
The segment finds applications across various industries such as entertainment, sports, textile, food & beverages, FMCG, and automobiles. Moreover, rising need for advertising in basic consumer applications is projected to drive the market.
The surface mounted technology is expected to expand at a CAGR of 20% during the forecast period.
In terms of technology, the global outdoor LED display market is bifurcated into individual and surface mounted technology. The surface mounted segment held a major share of the total revenue in 2019. Rising demand for large screens with great viewing distance is inspiring retailers and commercial builders to opt for individual mounted technology. Individual mounted technology generates less heat and has a long lifespan as compared to traditional devices. Moreover, it produces brightened displays that provide clear readability as compared to traditional signs and billboards.
The market in Asia Pacific is expected to expand at a rapid pace during the forecast period
Based on regions, the global outdoor LED display market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is projected to hold a large share of the total revenue during the forecast period. The growth of the market in the region is attributed to rising investments by major companies for improving spectators experience and increasing sports and promotional activities.
The market in North America is expected to expand at a substantial CAGR during the forecast period, owing to increased demand for modified solutions and use of technology on several streets such as The Strip in Las Vegas, The Boardwalk in Atlantic City, and the Times Square in New York.
The global outdoor LED display market has been segmented on the basis of
- Individual Mounted
- Surface Mounted
- LED Matrix Boards
- Perimeter Boards
- Traffic Lights
- Video Walls
- Mobile Panels
- Full Color
- Tri Color Displays
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- LG Electronics
- Electronic Displays
- Shenzhen Dicolor Optoelectronics Co LtdDaktronics
- Lighthouse Technologies Ltd
- Barco NV
- Leyard Optoelectronic Co Ltd.
Key players in the global outdoor LED display market include LG Electronics, Panasonic, Electronic Displays, Sony, Toshiba, Shenzhen Dicolor Optoelectronics Co Ltd, Daktronics, Lighthouse Technologies Ltd, Barco NV, and Leyard Optoelectronic Co Ltd.
Increasing product life and improving product application & capacity are some of the major strategies adopted by manufacturers to provide distinct product. Dealers in the industry are providing end-to-end solutions from manufacturing to installation at the site coupled with after-sales services.
Manufacturers are investing largely in R&D to discover technologies for reducing emissions & losses and improving efficiency. Partnerships and acquisitions are the major strategies adopted by the vendors for expanding the business.