Sports and musical concerts around the world boost the Global Outdoor LED Display Market:
Global Outdoor LED Display Market was valued at USD16.43 billion in 2016 and is expected to witness a CAGR of approximately 17.1% during the forecast period 2017-2025. Outdoor LED displays are arranged on the buildings, highways, entertainment shows and sports stadiums to display the advertisements, promotions, scoreboards, traffic signs and other important notifications. The high brightness and energy efficiency features of these LED displays have increased their demand in the product or event promotional activities.
Advanced Technology Innovations in Global Outdoor LED Display Market:
The advances in the technology have improved the quality of outdoor LED displays and developed some new features like automated displays, wireless control systems, improved quality and brightness and others. These LED displays play a prominent role in the live events like concerts, fashion parades, sports, digital signage and regular meteorological information. Billboards segment is the most profitable segment of the market and accounted for almost 40% of the total market revenue, which is expected to grow at an annual growth rate of approximately 25% for the upcoming years.
The increasing communication media activities, and sports and musical events around the world is primarily driving the outdoor LED displays market. Furthermore, the energy efficiency offered by the LEDs, increasing promotional activities by public and private organizations, use of LEDs for increasing the population awareness about road safety and other important aspects, advancements in the technology, growing adoption of outdoor LED displays in shopping malls and public transport, and several other factors are fuelling the demand for global outdoor LED displays market. On the flip side, the volatility in the demand and high initial setup costs are restricting the market to some extent.
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Global Outdoor LED Display Market Geographical Analysis:
Geographically, the Asia Pacific region dominated the global outdoor LED display market with the major contribution of more than USD 1 billion in 2016. The region is expected to witness a CAGR of approximately 25% in the forecast period attributing to the increasing sports activities and infrastructural implementations in the countries like China, Japan and India. The United States of North America is also among the rapidly growing economies for the outdoor LED displays.
Global Outdoor LED Display Market Key Companies:
The prominent companies in the global outdoor LED display market are Philips Lighting Holding B.V., General Electric Company, Osram Licht AG, Cree, Inc., Eaton Corporation PLC, Hubbell Incorporated, Dialight PLC, Zumtobel Group AG, Syska LED, and Virtual Extension.
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