The latest research study by IMARC Group, “Outdoor LED Display Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” offers a comprehensive analysis of the industry, which comprises insights on global outdoor LED display market growth. The global outdoor LED display market reached a value of US$ 7.08 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 11.5 Billion by 2027, exhibiting a CAGR of 8.10% during 2022-2027.
Outdoor LED Display Industry Outlook:
Outdoor light-emitting diode (LED) displays are large billboards widely used to advertise products, services, or brands. They are a cost-effective investment as they rely on power-saving technology that leads to significant cost savings. They offer numerous benefits such as high brightness, excellent return on investment (ROI), low power consumption, and longer shelf life. As a result, outdoor LED displays find extensive applications in advertising boards installed in retail, sports arenas, shopping malls, transportation hubs, corporate campuses, and stadiums.
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Market Trends:
The global outdoor LED display market is primarily driven by the increasing use of brand advertisements and promotional campaigns due to rising business competition and the growing need to strengthen the market position. Moreover, there has been surging adoption of outdoor LED displays due to their durability and ability to withstand extreme environmental conditions, such as rain, heat, snow, and wind, and deliver content clearly under direct sunlight.
In line with this, the increasing government funding for sports tournaments and events and the growing consumer expenditure on outdoor activities have augmented the product demand. Apart from this, the surging popularity of outdoor LED displays across educational institutions to improve the learning experience and school environments and make announcements is positively influencing the market growth.
Furthermore, the growing emphasis on digitized product and service promotion to engage audiences and extract maximum effectiveness from marketing messages is contributing to market growth. Other factors, including the launch of innovative outdoor LED displays, rising digitization, inflating electricity costs, and increasing outdoor events, are also anticipated to propel market growth.
| Outdoor LED Display Market Report Scope | |
| Report Coverage | Details |
| Market size value in 2021 | US$ 7.08 Billion |
| Market forecast in 2027 | US$ 11.5 Billion |
| Growth Rate | CAGR of 8.10% from 2022 to 2027 |
| Base year for estimation | 2021 |
| Historical data | 2016-2021 |
| Forecast period | 2022-2027 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
| Customization preview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Market Segmentation:
The report has been segmented the market into following categories:
Breakup by Type:
- Surface Mounted
- Individually Mounted
Breakup by Color Display:
- Monochrome Display
- Tri-Color Display
- Full Color Display
Breakup by Application:
- Billboards
- Mobile LED Display
- Perimeter Board
- Traffic Lights
- Video Wall
- Others
Breakup by Geography:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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List of Key Companies Covered in this Market Report:
The major players in the market are ClearLED Ltd., Daktronics Inc., Delta Electronics Inc., Electronic Displays Inc., Galaxia Electronics Co. Ltd., Leyard Optoelectronic Co. Ltd., LG Electronics Inc., Lighthouse Technologies Limited, LIGHTVU, Panasonic Corporation, Samsung Electronics Co. Ltd. and Toshiba Corporation.
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About IMARC Group:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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