Allied Market Research, titled “Outdoor LED Display Market Size by Type and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030″. The 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%.
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The outdoor LED signs/ LED display screen for advertising outdoors, install LED screens in the exterior environment. Asia-Pacific is expected to be the leading contributor to the global outdoor LED display Industry forecast period, followed by North America and Europe.
The Outdoor LED display market includes the type of LED displays in the market and their applications such as billboards, mobile LED displays, traffic lights, perimeter boards, video walls, and others. An in-depth outdoor LED display market analysis of their revenue across North America, Europe, Asia-Pacific, and LAMEA has also been included in the report.
The outdoor LED screen involves the presentation of videos, images, and digits on an array of LEDs, which act as pixels. High digital sponsorships & information displays, power efficiency features, and a surge in digital advertisements are some of the factors that drive the outdoor LED display market growth. Conversely, the rise in alternative LED advertisement designs and the rise in sports events are some of the factors expected to provide lucrative opportunities for the outdoor LED display market in the upcoming years.
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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.
Region-wise, the outdoor LED display market trends have been analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for a significant share of the global market in 2020. The increase in the adoption of billboards, the rise in the trend of phone booth display advertising, and the need for high-definition displays in sports events are some of the major outdoor LED display market opportunities in the region. Furthermore, the implementation of outdoor LED displays in the transportation industry, advertising, and display applications fuels the market growth. In addition, North America is one of the fastest-growing regions owing to the lucrative & multi-design platform provided by outdoor LED displays.
Competitive Analysis:
The Outdoor LED Display industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market’s strengths, product portfolio, market size and share analysis, operational results, and market positioning.
Some of the major key players in the global Outdoor LED Display Market include,
SHENZHEN DICOLOR OPTOELECTRONICS CO., LTD.
DAKTRONICS, INC.
LEYARD
GALAXIA ELECTRONICS
PANASONIC CORPORATION
LG ELECTRONICS
TOSHIBA CORPORATION
BARCO
LIGHTHOUSE TECHNOLOGIES LIMITED.
ELECTRONIC DISPLAYS INC.
The COVID-19 pandemic has adversely impacted the outdoor LED display industry as the huge workforce of enterprises across the globe are working from home. This has LED to a decline in advertising expenditure, which, in turn, reduced 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 a cumulative number of shipments being marginally unaffected in the next three-year period from 2020.
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Key Findings of The Study
The Individually Mounted segment is projected to be the dominant type segment during the outdoor LED display market forecast period followed by Surface Mounted.
Asia-Pacific and North America collectively accounted for more than 62% of the outdoor LED display market share in 2020.
The Smart Building AV segment is anticipated to witness the highest growth rate during the forecast period.
China was the major shareholder in the Asia-Pacific outdoor LED display industry, accounting for approximately 30.88% share in 2020.
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