Outdoor LED Display Market Expected to Reach $14,522.40 Million by 2030 — Allied Market Research

According to a new report published by Allied Market Research, titled, “Outdoor LED Display Market 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%. The outdoor LED signs/ LED display screen for advertising outdoor, 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.

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 their revenue across North America, Europe, Asia-Pacific, and LAMEA has also been included in the report.

The outdoor LED screen involves presentation of videos, images, and digits on an array of LEDs, which act as pixels. High digital sponsorships & information displays, power efficiency features and surge in digital advertisements are some of the factors that drive the outdoor LED display market growth. Conversely, rise in alternate LED advertisement designs and rise in sport events are some of the factors expected to provide lucrative opportunities for the outdoor LED display market in the upcoming years.

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. Increase in adoption of billboards, rise in trend of phone booth display advertising, and need for high-definition displays in sports events are some of the major outdoor LED display market opportunities in the region. Furthermore, implementation of outdoor LED displays in the transportation industry, advertising, and display application fuels the market growth. In addition, North America is one of the fastest growing regions owing to lucrative & multi-design platform provided by outdoor LED displays.

COVID-19 Impact Analysis

COVID-19 pandemic has adversely impacted the outdoor LED display industry as huge workforce of enterprises across the globe are working from home. This has LED to 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 cumulative number of shipments being marginally unaffected in the next three-year period from 2020.

Key Findings of The Study

• The Individually Mounted segment is projected to be dominate 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.
• Smart Building AV segment is anticipated to witness 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.

The key players profiled in the report include Barco, Daktronics, Inc., Electronic Displays Inc., Galaxia Electronics, Leyard, LG Electronics, Lighthouse Technologies Limited, Panasonic Corporation, Sony Corporation, and Toshiba Tec Corporation. These players have adopted various strategies such as product launch, acquisition, collaboration, and partnership to expand their foothold in the industry.