The exponentially rising demand for wireless connections for high resolution signs and billboards will also help impel outdoor LED display market, which was worth more than USD 2.5 billion in 2015. Recognizing the potential of LED displays and the impact they have on the audience, companies operating in global outdoor LED display industry are striving to develop innovative products that depict the features of longer shelf life and improved capacity. Key companies include Electronic Displays, Panasonic, Barco NV, LG Electronics, Shenzhen Dicolor, Leyard Optoelectronic, Toshiba, Sony, Optoelectronics, Panasonic, Daktronics, and Lighthouse Technologies. Apart from novel product development, outdoor LED display market players are focusing on investing heavily in research & development activities and diversifying their product portfolio. Additionally, to cut down on the operational costs, companies have begun to rely on automation to update outdoor displays instead of technical personnel making tedious on-site visits.
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Outdoor LEDs come in a variety of color displays, namely tri-color, full color, and monochrome models. Undoubtedly, the full color model encompasses the best features and has the ability to depict colorful animations, images, and videos, subject to which full color outdoor LED display market will grow at a significant pace over 2016-2024. Even the tri-color display model is gaining remarkable prominence, pertaining to its rising adoption in scoreboards, digital signage, and perimeter boards. On account of the rapid development of digital signage market, tri-color outdoor LED display industry is expected to register a CAGR of 22.3% over 2016-2024.
LED screens incorporating interactive visualization technology are forecast to be deployed increasingly across bus stops and train stations, owing to growing trend of utilizing high tech 3D powered interactive imaging. This trend is predicted to contribute heavily toward outdoor LED display market growth.
Outdoor LEDs are used across billboards, matrix boards, perimeter boards, video walls, mobile panels, and traffic signals. Traffic light applications held more than 11.5% of outdoor LED display industry in 2015 and are predicted to be worth more than USD 1.95 billion by 2024, with a CAGR estimation of 19% over 2016-2025. This growth can be primarily attributed to factors such as high energy efficiency, adaptability to varied power supply, and reduced maintenance expenses.
LED displays are now being increasingly deployed across the globe for sporting events, in stadiums and playground arenas, for advertising big-shot events and products, taxi ads, and even kiosk advertisements. With customer expectations reaching an all-time high, companies are using LEDs to brand themselves across myriad regions. For instance, U.S. outdoor LED display market is anticipated to be worth USD 2.5 billion by 2024, subject to the increasing deployment of LED technology for outdoor advertising in commercial zones such as the Boardwalk and the Times Square. Having held more than 50% of the regional outdoor LED display industry in 2015, this market is expected to grow significantly owing to the huge demand for personalized advertising solutions.
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Countries forming a part of the APAC region have lately been organizing sporting events on a large scale, pertaining to which Asia Pacific outdoor LED display market will grow at a CAGR of 25% over 2016-2024. Having been valued for around USD 1 billion in 2015, this regional market has also been experiencing an exponential growth in the infrastructural sector, which will lead to widespread product demand in the years to come. China and India will be the key revenue pockets driving APAC outdoor LED display industry.
Individually mounted LED displays will be increasingly adopted by commercial builders in the near future driven by the high demand for large screens and excellent viewability. Having held more than 55% of the overall revenue in 2015, individually mounted outdoor LED display market will grow substantially over 2016-2024, powered by the product’s bright display feature, longer shelf life, and less heat generating capacity. Surface mounted outdoor LED display market, on the other hand, is expected to grow at a CAGR of 26.5% over 2016-2024.
Glimpse of Table of Content (ToC)
Chapter 5. Outdoor LED Display Application Insights
5.1. Outdoor LED display market share by application, 2015 & 2024
5.2. LED Billboards
5.2.1. Market estimates and forecasts by region, 2013 – 2024
5.3. Perimeter LED boards
5.3.1. Market estimates and forecasts by region, 2013 – 2024
5.4. LED Mobile Panel
5.4.1. Market estimates and forecasts by region, 2013 – 2024
5.5. LED Traffic Lights
5.5.1. Market estimates and forecasts by region, 2013 – 2024
5.6. LED Video walls
5.6.1. Market estimates and forecasts by region, 2013 – 2024
5.7. Other LED Matrix Boards
5.7.1. Market estimates and forecasts by region, 2013 – 2024
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