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| Report Code: A02022 | Pages: 268 | Oct 2021 | 30238 Views | ||
| Author(s) : Shantanu S , Vineet K | Tables: 96 | Charts: 58 |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Outdoor Led Display Market
Request Now !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%. The outdoor LED signs and displays use LEDs in display screens installed in the exterior environment in other terms it is a LED display screen for advertising outdoor.
The smart building AV segment has been adversely impacted by the emergence of COVID-19 pandemic.
Technically outdoor LED screen manufacturing involves fabrication of LEDs of different color wavelengths on printed circuit boards (PCBs). The packaging type may be either dual-inline-packaging (DIP) or surface mounting device (SMD). These screens are robust & resistant to damages caused by sunlight, pollution, and moisture. High adoption by sponsors in the entertainment shows, sports events, and exhibitions owing to increase in preference of LED display advertising over paper or poster-based advertising boosts the outdoor LED display market growth. However, high initial investments and unstable demand are some of the factors that hamper the market growth.
The global outdoor LED display market is segmented on the basis of type, application, and region. On the basis of type, the individually mounted segment dominated the Outdoor LED Display Industry in 2020 and is projected to maintain its dominance during the forecast period. The individually mounted LED display provides several features such as better ultraviolet (UV) protection function, waterproof, higher brightness, better moisture protection, and quality performance of LEDs. This, as result becomes a major growth factor and is expected to grow at a significant CAGR during the outdoor LED display market forecast period.
By application, the billboards segment dominated the outdoor LED market in 2020 and is projected to maintain its dominance during the forecast period, as it provides cost-effective designs & advance features for advertisement on outdoor LED displays in the market.
Furthermore, the mobile LED displays segment is expected to grow at a significant CAGR during the forecast period. These displays provide a viable option for inexpensive, efficient, and door-to-door advertisement services, thus catering to the increase in demand for portable advertising medium in the market.
By region, the outdoor LED display market was dominated by Asia-Pacific in 2020 and is expected to maintain this trend during the forecast period. The major factors driving the growth of the market in this region are large investments for production & consumption of outdoor LED displays and semiconductors, and increased preferences of digital advertisements in the emerging economies.
The global outdoor LED display market is influenced by various top impacting factors including rapid growth in digital advertisements, high digital sponsorships & information displays, and power efficiency features are some of the factors fueling the market growth. However, high initial and installation cost of outdoor LED displays are projected to hamper the growth of the market. On the contrary, rise in sports events and alternate LED advertisements designs are expected to provide lucrative opportunities for the outdoor LED display market during the forecast period.
The key players profiled in the report include Barco, Daktronics, Inc., Electronic Displays Inc., Galaxia Electronics, Leyard, LG Electronics, Lighthouse Technologies Limited, Panasonic Corporation, Sony Corporation, and Toshiba Tec Corporation. Market players have adopted various strategies such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the outdoor LED display industry.
COVID-19 pandemic has adversely impacted the outdoor LED display market as huge workforce of enterprises across the globe are working from home. This has LED to decline in advertising expenditure, which, in turn, reduced the demand for outdoor LED displays. Although the COVID-19 pandemic has forced field work of several major projects to pause temporarily, the market is expected to remain robust with cumulative number of shipments being marginally unaffected in the next three-year period from 2020.
The global outdoor LED display market has been impacted by the COVID-19 outbreak. New projects throughout the world have been stalled, which, in turn, have affected demand in several industries including manufacturing, industrial, and retail. Although market players faced minimal impact on procuring raw materials, time and shipping costs was still a major concern.
Moreover, rise in investments in development of smart cities have gained importance during the pandemic, subsequently, the demand for outdoor LED displays is anticipated to gain momentum post-pandemic.
Key Benefits for Stakeholders
Outdoor LED Display Market Report Highlights
| Aspects | Details |
|---|---|
| By Type |
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| By Application |
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| By Region |
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| Key Market Players | BARCO, DAKTRONICS, INC., ELECTRONIC DISPLAYS INC., GALAXIA ELECTRONICS, LEYARD, LG ELECTRONICS, LIGHTHOUSE TECHNOLOGIES LIMITED., PANASONIC CORPORATION, SHENZHEN DICOLOR OPTOELECTRONICS CO., LTD., TOSHIBA CORPORATION |
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In accordance with several interviews that were conducted of the top level CXOs, outdoor LED display makes use of a series or matrix of LEDs as pixels for displaying a video in the outdoor environment. In the LED display technology, several diodes combine to form an LED pixel, which are combined to form an LED panel. In addition, LED technology in the outdoor segment is used for displaying customer information at railways and airports. They are also used in parking signs, management of traffic boards, and outdoor commercial advertisement. In the sports sector, this technology is used to display score in digital format, brighten the sponsor boards, and provide bright arena display screens.
Surge in commercial advertisement using digital billboards, flexibility and ease in design of traffic routes in densely populated countries such as China and India, and advent of digitalization in the sports sector have made Asia-Pacific the largest manufacturer of LED displays worldwide, followed by North America. Moreover, growth in implementation of surface mounted technology for outdoor LED displays fuels R&D activities worldwide.
Therefore, applications of this technology are potential target areas of investment for key players in this market. The key players profiled in the report include Barco, Daktronics, Inc., Electronic Displays Inc., Galaxia Electronics, Leyard, LG Electronics, Lighthouse Technologies Limited, Panasonic Corporation, Sony Corporation, and Toshiba Tec Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
A. The outdoor LED display market is estimated to grow at a CAGR of 9.10% from 2021 to 2030.
A. The outdoor LED display market is projected to reach $14,522.40 million by 2030.
A. To get the latest version of sample report
A. High adoption by sponsors in the entertainment shows, sports events, and exhibitions.
A. The key players profiled in the report include Barco, Daktronics, Inc., Electronic Displays Inc., Galaxia Electronics, and many more.
A. On the basis of top growing big corporations, we select top 10 players.
A. The outdoor LED display market is segmented on the basis of type, application, and region.
A. The key growth strategies of outdoor LED display market players include product launch, collaboration & partnership, joint venture, and acquisition.
A. Smart Building AV segment would grow at a highest CAGR of 12.50% during the forecast period.
A. Asia-Pacific region will dominate the market by the end of 2030.
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