USD 7.42 billion
Outdoor LED Display market Size, Share, Growth Analysis, By Application(Advertising Media, Traffic, Safety, Gym), By Technology(Individually Mounted and Surface Mounted), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45J2180 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
63
|Figures:
75
Outdoor LED Display market Insights
Outdoor LED Display Market size was valued at USD 8.1 billion in 2022 and is poised to grow from USD 8.58 billion in 2023 to USD 13.68 billion by 2031, growing at a CAGR of 6% during the forecast period (2024-2031).
The global outdoor LED display market is anticipated to witness notable growth owing to the growing demand for digital advertising and the rise in popularity of large-scale events. The expansion of exhibitions, sports events, ceremonies, seminars, and similar gatherings plays a crucial role in boosting the market for outdoor displays. These events provide an excellent opportunity for sponsors to effectively present information about their products and cover a larger consumer base at a lower cost through the use of displays for advertising.
Outdoor displays offer a feasible medium for exhibiting dynamic data, which is easier to manage compared to static data. They also provide the flexibility to make instant changes to the displays during ongoing events. For instance, Daktronics Inc., a leading company dealing with dynamic audio and visual communication and systems, collaborated with Drexel University to install LED displays at the Daskalakis Athletic Center in Philadelphia and collaborated with Qatari Diar and Lusail Boulevard to set up LED displays along Qatar's Lusail Commercial Boulevard. These installations showcase the potential and impact of outdoor displays in various locations and events.
The global demand for electronics has significantly increased in recent years, with digital displays playing a vital role in our digital society. Notably, interactive displays have gained prominence, allowing users to interact via touch, stylus, or other peripheral devices. These interactive displays find widespread applications across various sectors, and their demand is expected to rise due to factors such as increased investments in research and development, gamification, digitization, rising internet penetration, and evolving consumer preferences for advanced technologies. The continuous improvements in display technology over the last decade have contributed to the growing significance of digital displays in modern life.
US Outdoor LED Display market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
LED billboards
Fastest Growth
LED billboards
Growth Rate
6% CAGR
Outdoor LED Display Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Outdoor LED Display market Segmental Analysis
The outdoor LED display market is segmented in terms of Type, Application, and Region. In terms of classification by Application, the market is segmented as, Advertising Media, Traffic and Safety, Gym, and Others. With respect to categorization by Technology, the market is segmented into Individually Mounted, and Surface Mounted.
Outdoor LED Display Market Analysis By Application
Regarding its application, the market is categorized into several segments, including LED billboards, perimeter LED boards, LED video walls, LED mobile panels, LED traffic lights, and other LED matrix boards. Among these, the LED billboards segment held a dominant market share in 2022 as they are widely used for outdoor advertising, public education, and entertainment purposes. These billboards can be found in various locations, such as highways, cities, and sporting events. Compared to conventional printed billboards, LED billboards offer several advantages, including the ability to display dynamic and animated content, easy and quick content changes, and continuous operation. Additionally, they are more environmentally friendly due to their lower energy consumption and longer lifespan.
On the other hand, the LED video walls segment is expected to experience the fastest growth with a projected CAGR of 17.7% throughout the forecast period. LED video walls are large displays composed of multiple individual LED panels combined to create a single large screen. They are commonly used for digital signage, advertising, and broadcasting in public places like shopping malls, stadiums, and concert venues. LED video walls come in various configurations, including tiled formats with replaceable panels or fine pixel pitch formats with smaller and closely spaced LEDs, resulting in seamless, high-resolution images. Their adaptability allows for the creation of unique and innovative displays.
Outdoor LED Display Market Analysis By End User Industry
Regarding technological classification, the market is divided into two categories: individually mounted and surface mounted. In the year 2022, the surface mounted segment claimed the majority stake. This can be attributed to the fact that, unlike individually installed displays, the LED modules in surface mounted displays cannot be individually replaced. As a result, if a single LED malfunctions, the entire module needs to be substituted. Despite this limitation, surface mounted displays are favored over individually installed ones due to their lighter weight and simpler installation process.
The segment that stands out for its rapid growth potential is the individually mounted category, expected to maintain a strong Compound Annual Growth Rate (CAGR) throughout the entire projected period. An individually mounted presentation consists of an arrangement of light-emitting diodes, each mounted onto separate circuit boards or modules. These modules are organized in a grid pattern to create a sizable display. This type of display finds common applications in outdoor advertising, public dissemination of information, and entertainment, possessing the capability to exhibit real-time text, images, and videos. The increasing demand for expansive displays capable of reaching distant viewers is foreseen to drive the adoption of this technology among commercial constructors and retailers.
Outdoor LED Display Market by Application
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Outdoor LED Display market Regional Insights
In 2022, Asia Pacific led the global market with a substantial market share, attributed to its possession of some of the world's largest and fastest-growing economies, including China, India, and Japan. The retail and tourism industries in Asia Pacific are witnessing a surge in demand for digital signage solutions, driven by the increasing popularity of outdoor entertainment. For example, in Seoul, LED displays are deployed to showcase schedules of music festivals, provide information about artists, and offer event updates. Many businesses in the region have invested in outdoor LED screens to offer real-time information on traffic, emergency alerts, weather updates, and more.
In North America, the market is anticipated to experience the fastest growth throughout the forecast period, with a projected CAGR of 17.0%. This growth can be attributed to factors such as the rising adoption of digital signage, advancements in technology, and increased spending on media and advertising. Businesses in North America are leveraging outdoor LED displays to reach their target audiences more effectively in the digital era. LED technology advancements have enabled vendors to offer high-quality displays that are bright, energy-efficient, and have a longer lifespan. Moreover, the proliferation of smart city solutions has further increased the adoption of digital signage in North America, with various countries implementing outdoor LED displays to provide real-time information to citizens. These displays find extensive use in transportation hubs like airports and train stations to inform passengers about flight schedules, arrivals and departures, and other essential updates.
Outdoor LED Display Market By Geography
- Largest
- Fastest
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Outdoor LED Display market Dynamics
Outdoor LED Display Market Drivers
Increasing Demand for Digital Advertising
- The growing trend of digital advertising and the need for dynamic and interactive content drive the demand for outdoor LED displays as an effective medium for advertising and brand promotion.
Outdoor LED Display Market Restraints
High Initial Costs
- The installation of outdoor LED displays involves significant upfront investment, which can act as a deterrent for small and medium-sized businesses or organizations with budget constraints.
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Outdoor LED Display market Competitive Landscape
The market for outdoor LED displays used in billboards, video walls, and other applications is highly competitive and fragmented, with numerous players vying for market share. To stay ahead in this competitive landscape, major players are investing heavily in research and development to incorporate advanced technologies into their LED displays. Partnerships and collaborations are also being pursued by these companies to gain a competitive edge and expand their market presence. For instance, in February 2023, Daktronics Inc. entered into a partnership with Drexel University to install and manufacture an indoor audio system and 22 new LED displays at the Daskalakis Athletic Center campus in Philadelphia, Pennsylvania. This move showcases the efforts made by companies to solidify their position in the market through strategic alliances and innovative product offerings.
Outdoor LED Display Market Top Player’s Company Profile
- Daktronics
- Samsung
- Unilumin
- Leyard
- Absen
- LianTronics
- Shenzhen Lightking Tech Group Co., Ltd.
- Lighthouse Technologies Limited
- Sansi
- Yaham Electronics
- Ledman Optoelectronic Co., Ltd.
- Shenzhen Mary Photoelectricity Co.Ltd (MRLED)
- Lopu
- Shenzhen AOTO Electronics Co., Ltd.
- Chipshow
- Shenzhen CLT
- INFiLED
- Retop LED Display Co., LTD.
- QSTECH Co., Ltd.
- Shenzhen Teeho Optoelectronic Co., Ltd
Outdoor LED Display Market Recent Developments
- In May 2022, Daktronics, a company listed on NASDAQ under the symbol DAKT and based in Brookings, South Dakota, successfully delivered a state-of-the-art outfield video display for the Arkansas Travelers. This collaboration resulted in the installation of an expansive digital video display spanning over 2,100 square feet.
- During March 2022, Leyard, in partnership with the Beijing Institute of Architectural Design (BIAD), achieved a significant milestone by establishing a cutting-edge ecosystem that seamlessly integrates digital architecture and audio/video technologies. This achievement was realized through a strategic cooperation agreement between Leyard and BIAD.
- In January 2022, a remarkable advancement in advertising technology came to fruition with the installation of the largest 4K L-Shape LED billboard. Developed by Lighthouse Technologies, this impressive billboard, showcasing captivating naked-eye 3D advertisements, now graces the Hing Wai Building, strategically positioned at one of Central Hong Kong's busiest intersections.
Outdoor LED Display market Trends
- Increasing Adoption of Fine Pixel Pitch (FPP) Displays: There is a growing preference for Fine Pixel Pitch LED displays in outdoor settings. FPP displays offer higher resolution, better image quality, and seamless viewing experience, making them suitable for applications that demand clarity and detail, such as advertising, sports events, and digital signage.
Outdoor LED Display market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global outdoor LED display market analysis, the increasing demand for digital advertising, rising popularity of large-scale events, and advancements in LED technology are the key growth drivers. The market offers various applications, including LED billboards, video walls, traffic lights, and mobile panels. Asia Pacific leads the market with its robust economies and growing demand for digital signage in retail and tourism. North America is expected to witness rapid growth due to rising adoption of digital signage and smart city solutions. Despite the positive trends, challenges like high initial costs and weather vulnerability remain, pushing manufacturers towards energy-efficient and environmentally friendly solutions.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 7.42 billion |
| Market size value in 2031 | USD 16.38 billion |
| Growth Rate | 6% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Outdoor LED Display market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Outdoor LED Display market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Outdoor LED Display market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Outdoor LED Display market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Outdoor LED Display market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Outdoor LED Display market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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