Outdoor LED Display Market size forecast to grow at 20 % CAGR from 2016 to 2024 to surpass USD 22.4 billion by 2024
Outdoor LED Display Market size is forecast to exceed USD 22.4 billion by 2024; according to a new research report by Global Market Insights, Inc.
Increased demand for sophisticated applications such as advertising boards, video walls, stadium screens, perimeter boards and scoreboards is anticipated to propel outdoor LED display market size from 2016 to 2024. Corporate brands opt for these devices owing to various benefits such as brightness, HD resolution, pitch, good pixel, durability, portability and energy efficiency.
Surface mounted technology is projected to grow with 26.5% CAGR from 2016 to 2024. Rising prominence of these devices may offer tough competition to conventional systems in the coming years. Advent of projector as well as LCD technology is anticipated to negatively impact demand. However, rising preference for energy efficient device, evolving screen dynamics and low operating costs may fuel outdoor LED display market share for various advertisement and sports events.
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Electronic signs used in billboards display multiple messages, and these messages can be changed either remotely or by programming the display on the site. Growing demand for electronic billboards over printed billboards with rising number of advertisements will be responsible for driving outdoor LED display market size. As the cost of billboards continues to decrease, growth in developing economies could boost sales significantly.
Advertising boards, stadium screens, perimeter boards, scoreboards, and video walls are set to witness growth. Higher awareness about the advantages of these panels, increasing high-tech infrastructure demand and rising number of sports activities will fuel mobile panels revenue.
Browse key industry insights spread across 100 pages with 64 market data tables & 56 figures & charts from the report, “Outdoor LED Display Market Size By Application (Perimeter Boards, Billboards, Mobile Panels, Video Walls, Traffic Lights, LED Matrix Boards), By Technology (Surface Mounted, Individually Mounted), By Color Display (Tri-Color, Monochrome, Full Color), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, China, Mexico, Brazil), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
Key insights from the report include:
- Features such as high cost-effectiveness, incredible visibility and dynamic content will drive growth in the billboards segment. Traffic lights accouted for more than 11.5% of the global outdoor LED display market share and is forecast to be valued over USD 1.95 billion by 2024. Growth in the segmmet can be dedicated to attributes such as ability to readily adopt to power supply changes, high energy efficiency and low maintenance cost.
- Individually mounted technology was valued at USD 1.46 billion in 2015. Brighter illuminated display, minimal heat generation, and longer life is forecast to encourage retailers as well as commercial builders to adopt this technology.
- China outdoor LED display market size will drive revenue in Asia Pacific, which was estimated at USD 1.18 billion as of 2015. Regional growth can be credited to swift infrastructural development and increasing sports activities across emerging economies such as China and India.
- In 2015, North America accounted for over 19% of the revenue generated. Rising technology implementation in various locations including The Boardwalk and Times Squar is anticipated to propel demand through 2024. Bus stops and train stations are set to witness high deployment of interactive screens.
- Key industry participants are Sony, Panasonic, LG Electronics, and Toshiba. Other prominent playres include Sharp, Samsung Display, Qingdao Haier, Koninklijke Philips, Innolux, Hisense Group, AU Optronics, and BOE Technology Group.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.