Global Outdoor LED Display Market Size, Share, and COVID-19 Impact Analysis, By Technology (Individually Mounted and Surface Mounted), By Color Display (Monochrome Display, Tri-Color Display, and Full-Color Display), By Application (LED Billboards, Perimeter LED Boards, LED Mobile Panel, LED Traffic Lights, LED Video Walls, and Other LED Matrix Boards), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032.Industry: Semiconductors & Electronics
Global Outdoor LED Display Market Insights Forecasts to 2032
- The Outdoor LED Display Market Size was valued at USD 7.58 Billion in 2022.
- The Market is Growing at a CAGR of 14.7% from 2022 to 2032.
- The Worldwide Outdoor LED Display Market Size is expected to reach USD 29.87 Billion by 2032.
- North America is expected to Grow the fastest during the forecast period.
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The Global Outdoor LED Display Market is expected to reach USD 29.87 Billion by 2032, at a CAGR of 14.7% during the forecast period 2022 to 2032.
Outdoor LED displays are large screens that are specifically designed to be used outdoors. These displays use light-emitting diodes (LEDs) to produce bright, high-resolution images that can be seen even in direct sunlight. Outdoor LED displays are commonly used for advertising, entertainment, and information dissemination in public spaces such as stadiums, airports, shopping centers, and outdoor events. They are durable, weather-resistant, and energy-efficient, making them a popular choice for outdoor applications. Outdoor LED displays are available in a variety of sizes, resolutions, and pixel pitches, allowing for customization based on specific needs and preferences.
This research report categorizes the market for outdoor LED display market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the outdoor LED display market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the outdoor LED display market.
Global Outdoor LED Display Market Report Coverage
|Market Size in 2022:||USD 7.58 Billion|
|Forecast Period 2022-2032 CAGR:||14.7|
|2032 Value Projection:||USD 29.87 Billion|
|Historical Data for:||2019-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||120|
|Segments covered:||By Technology, By Color Display, By Application, By Region.|
|Companies Covered:||Daktronics, Barco, Samsung Electronics, LG Electronics, Panasonic Corporation, Sony Corporation, Leyard Optoelectronic, Absen, Unilumin, Lighthouse Technologies, Mitsubishi Electric Corporation, Toshiba Corporation, Shenzhen Dicolor Optoelectronics, Yaham Optoelectronics, Sansitech.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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The drivers of the outdoor LED display market include the growing demand for advertising and promotional activities in outdoor spaces, the increasing adoption of LED displays in sports stadiums and arenas, and the rising popularity of digital signage for public information and wayfinding. Other drivers include the declining cost of LED display technology, the increasing popularity of high-resolution and energy-efficient displays, and the growing use of LED displays for events and entertainment. Additionally, the increasing number of smart city initiatives and advancements in display technology, such as the development of flexible and transparent displays, are also expected to drive the growth of the outdoor LED display market.
The restraints of the outdoor LED display market include the high initial investment cost for installation and maintenance, as well as the increasing competition from alternative advertising mediums such as online and mobile advertising. Additionally, the challenges of ensuring proper visibility and readability in different weather conditions and outdoor environments can also be a restraint. The limited lifespan of LED displays and the need for frequent replacement or maintenance can also impact the market. Furthermore, the availability of cheaper and lower-quality LED displays from non-reputable manufacturers can pose a challenge for established players in the market.
- In 2022, the surface-mounted segment accounted for more than 61.5% market share
On the basis of technology, the global outdoor LED display market is segmented into individually mounted and surface mounted. The surface-mounted segment is dominating with the largest market share in 2022, due to its advantages over other mounting methods. Surface-mounted displays are easier and quicker to install, require less space, and are more energy-efficient compared to other mounting methods such as through-hole mounting. Additionally, surface-mounted displays offer higher resolution and better image quality due to their smaller pixel pitch. The increasing demand for high-resolution displays in outdoor advertising, entertainment, and sports events is also driving the growth of the surface-mounted segment in the outdoor LED display market.
- In 2022, the full-color display segment dominated the market with around 45.6% revenue share
Based on color display, the global outdoor LED display market is segmented into monochrome display, tri-color display, and full-color display. Out of this, the full-color display segment is dominating the market with the largest market share in 2022, due to the advantages it offers over monochrome or dual-color displays. Full-color displays offer higher resolution and image quality, which is ideal for applications such as advertising, entertainment, and sports events that require high-quality visuals to capture audience attention. Additionally, the declining cost of full-color LED displays has made them more accessible and affordable for various applications. The increasing demand for dynamic and interactive content, along with advancements in LED display technology, is expected to drive the growth of the full-color display market in the outdoor LED display market.
Regional Segment Analysis of the Outdoor LED Display Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
Asia-Pacific dominated the market with more than 40.6% revenue share in 2022.
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Based on region, the Asia-Pacific region dominated the Outdoor LED Display market due to several factors. Firstly, the region has a high population density and a growing number of urbanization projects, leading to a higher demand for advertising and promotional activities in outdoor spaces. Additionally, the region has a strong presence of major players in the Outdoor LED Display market, such as Samsung and LG. Moreover, the region has a large consumer electronics market and is home to several semiconductor manufacturers, which enables the production of high-quality LED displays at a lower cost. The increasing adoption of LED displays in sports stadiums, public transportation, and smart city initiatives also contributes to the region's market dominance.
The report offers the appropriate analysis of the key organizations/companies involved within the global outdoor LED display market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Companies:
- Samsung Electronics
- LG Electronics
- Panasonic Corporation
- Sony Corporation
- Leyard Optoelectronic
- Lighthouse Technologies
- Mitsubishi Electric Corporation
- Toshiba Corporation
- Shenzhen Dicolor Optoelectronics
- Yaham Optoelectronics
- In May 2022, Daktronics Inc. joined forces with Drexel University to produce and set up an indoor audio system and 22 new LED displays at the Daskalakis Athletic Center in Philadelphia, Pennsylvania. The newly installed five-display center-hung design promises to provide an improved viewing experience for attendees.
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture Capitalists
- Value-Added Resellers (VARs)
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global outdoor LED display market based on the below-mentioned segments:
Outdoor LED Display Market, By Technology
- Individually Mounted
- Surface Mounted
Outdoor LED Display Market, By Color Display
- Monochrome Display
- Tri-Color Display
- Full-Color Display
Outdoor LED Display Market, By Application
- LED Billboards
- Perimeter LED Boards
- LED Mobile Panel
- LED Traffic Lights
- LED Video Walls
- Other LED Matrix Boards
Outdoor LED Display Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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