DUBLIN, January 19, 2022--(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.
Increased digital advertisements
High digital sponsorships & information displays
Power efficiency feature
High installation & initial cost
Alternate LED advertisement designs
Smart Building AV
Rest of Europe
Rest of Asia-Pacific
Key Market Players
Electronic Displays Inc.
Lighthouse Technologies Limited.
Shenzhen Dicolor Optoelectronics Co., Ltd.
Toshiba Tec Corporation
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View source version on businesswire.com: https://www.businesswire.com/news/home/20220119005501/en/
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