Global Outdoor Led Display Market to Grow at a CAGR of 9.2% During 2022 –2030

Introduction

Large billboards known as outdoor LED displays are used to display live advertisements, images, and promotional videos, among other types of content. Typically, it is placed in open and central areas, such as boulevards, shopping malls, parks, and parking lots. In addition, the displays are composed of something known as an LED or light-emitting diode. This type of semiconductor chip emits light at visible-spectrum wavelengths in various colors. These displays employ LEDs with a high degree of luminosity, and they find widespread use in outdoor applications. Live advertisements, billboards, and video walls are a few examples. In addition, outdoor LED displays are created with dual in-line package (DIP) technology, making them resistant to all types of weather.

Market Dynamics

IncreasingDigital Advertisements, High Digital Sponsorships, and information Displays Drive the Global Market

Companies are shifting their attention to various outdoor media advertising platforms, such as billboards, video walls, and other combinations of distinct display designs that are commercially available. This occurs because outdoor LED display offers unique designs and customized solutions, such as mobile integration, enhancing customer engagement with advanced pixel displays through QR codes, and other similar features. This is a significant factor in digital advertisers' widespread adoption and implementation of outdoor LED displays on the market. Moreover, outdoor LED displays offer impact resistance, durability, and energy efficiency in digital advertising due to the growing trend toward environmentally friendly interactive media.

The expansion of sports events and exhibitions, seminars, and other similar events are the primary factors driving the expansion of the outdoor LED display market. As sponsors promote and display consumer information, they can present information about their company's products more engagingly and reach a more significant number of individuals at a lower cost in the market. In addition, outdoor LED displays provide a viable source for displaying dynamic data, which is significantly more straightforward to manage than static data, and the flexibility to implement immediate changes in the displays while events occur. As a result of these factors, it is anticipated that the demand for outdoor LED displays will increase in the market.

Growth of Alternate LED Advertisement DesignsCreates Tremendous Opportunities

The advertising industry requires displays with innovative designs that are cost-effective and energy-efficient. In addition, multiple interactive advertisements, consumer information, and event statistics concurrently can be displayed. This creates immense opportunities in numerous industries, such as sports, event management, transportation, etc. As a result, it is anticipated that there will be ample opportunity for the growth and expansion of the outdoor LED display market in the coming years.

Regional Analysis

Asia-Pacific is the highest revenue contributor. The increased population in Asia-Pacific has resulted in a large audience for billboards placed along roads, buildings, and other areas. In addition, many businesses in this region invest heavily in billboard advertising, contributing to the market's growth. In this densely populated region, mobile LED displays to offer viable door-to-door advertising opportunities. The demand for outdoor LED displays used in sporting events and mega-events is likely to increase as Asia-Pacific quickly becomes a dominant force in sports. This is anticipated to create lucrative opportunities for the region's rapid outdoor LED display market growth.

North America comprises the United States of America, Canada, and Mexico. Due to the region's well-established commercial advertising network and rapid expansion of the consumer information display industry, North America held the largest share of the global outdoor LED display market. Europe held the second-largest market share.

Key Highlights

• The global outdoor LED display market was valued at USD 7.42 billion in 2021. It is expected to reach USD 17.89 billion by 2030, growing at a CAGR of 9.2% during the forecast period (2022–2030).
• Based on type, the global outdoor LED display market is divided into surface and individually mounted. The individually mounted segment is the highest contributor to the market, growing at a CAGR of 8.9% during the forecast period.
• Based on application, the global outdoor LED display market is divided into billboards, mobile LED displays, perimeter boards, traffic lights, and video walls. The billboards segment is the highest contributor to the market, growing at a CAGR of 8.2% during the forecast period.
• Asia-Pacific is the highest revenue contributor and is estimated to reach USD 5.94 billion by 2030, with a CAGR of 10.5% during the forecast period.

Competitive Players

1. Barco
2. Daktronic Inc.
3. Electronic Display Inc.
4. Galaxia Electronics
5. Leyard
6. LG Electronics
7. Lighthouse Technologies Limited
8. Panasonic Corporation
9. Shenzhen Dicolor Optoelectronics Co. Ltd.
10. Toshiba Corporation.

Recent Developments

• May 2022- Daktronics Delivered Homerun for Arkansas Travelers Outfield Video Display. Daktronics (NASDAQ-DAKT) of Brookings, South Dakota, has partnered with the Arkansas Travelers to deliver more than 2,100 square feet of digital video display space.

• March 2022- Leyard and BIAD has built a “digital building + digital audio/video” ecosystem. The Beijing Institute of Architectural Design (BIAD) and the group reached a strategic cooperation agreement.

• January 2022- The Largest 4K L-Shape LED Billboard with Impressive Naked-Eye 3D Advertisement. The Lighthouse Technologies developed LARGEST 4K L-Shape LED Billboard has been installed on the Hing Wai Building, at one of the busiest intersections in Central Hong Kong.

Segmentation

1. By Type
   1. Surface Mounted
   2. Individually mounted
2. By Deployment Type
   1. Installed
   2. Rental
3. By Color Display
   1. Monochrome Display
   2. Tri-Color Display
   3. Full-Color Display
4. By Application
   1. Billboard
   2. Mobile LED Display
   3. Perimeter Board
   4. Traffic Lights
   5. Video Wall
   6. Other LED Matrix Display