LED Display Screen Market of Outdoor LED Billboard to Account for 46% Share
Currently, the global market for outdoor LED displays is primarily driven by the enhanced features offered by LED displays compared to conventional displays, including energy efficiency, durability, and lower maintenance costs. Furthermore, increasing promotional activities across various industries are also encouraging the growth of outdoor LED display products such as video walls, LED billboards, and LED mobile screens. However, factors such as high initial installation costs and a growing trend towards online advertising are expected to constrain market growth.
The outdoor LED displays market is categorized into LED billboards, LED mobile screens, LED video walls, LED traffic lights, and other LED matrix displays based on their applications. By the end of 2021, it is projected that the LED billboards segment will hold approximately 46% of the global outdoor LED (installed) market share and experience a remarkable compound annual growth rate (CAGR) of 16.7% in terms of value during the forecast period from 2015 to 2021. Moreover, the installed market share for the LED video walls segment was recorded at 14.5% in 2014 and is anticipated to witness a CAGR of 16.8% in terms of value throughout the forecast period.
The latest market report published by Persistence Market Research, titled "Global Market Study on Outdoor LED Displays: Asia Pacific to Witness Unprecedented Growth in Installed and Rental Markets by 2021," reveals that the value of the outdoor LED displays installed market is estimated to reach an impressive US$ 6,477.1 Mn by the end of 2015. Furthermore, it is projected to experience a remarkable compound annual growth rate (CAGR) of 15.9% from 2015 to 2021, ultimately reaching a staggering US$ 15,705.7 Mn by the year 2021. This comprehensive report covers both the installed and rental markets for Global Outdoor LED Displays.
The outdoor LED display market is categorized based on color display, including monochrome, tri-color, and full-color displays. In 2014, the full-color segment dominated the global installed market with a share of 59.9%. Similarly, in the rental market during the same year, the full-color segment accounted for 58.8% of the market share. The growing demand for high-resolution LED displays in advertising and promotional events at shopping malls, retail stores, sports stadiums, exhibitions, and entertainment venues is expected to drive both the installed and rental markets' growth during the forecast period.
The report offers comprehensive insights and analysis on the various trends propelling each segment, providing detailed information about the opportunities in specific regions of the outdoor LED displays market.
The outdoor LED displays market presents market estimates across major geographies, with North America expected to dominate with a 31.6% market share by the end of 2021 in terms of value. This growth is primarily driven by the increasing adoption of outdoor LED displays for promotional activities by advertising agencies. Additionally, the demand for LED video walls at events and concerts, as well as perimeter boards and LED screens at stadiums, further fuels the growth in North America.
In terms of installed markets for outdoor LED displays, APAC is projected to witness the highest compound annual growth rate (CAGR), followed by MEA during the forecast period. The rapid development of infrastructure and lifestyle projects including shopping malls and multiplexes primarily contribute to this growth in APAC.
