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LED Video Walls Market: Sporting Events and Live Concerts Propel Europe Market to the Top
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Acting as a roadblock to the global LED video walls market, on the other hand, is the high initial cost of investment. However, with the growing technological advancements on account of keen players funneling large amounts of money into research and development, low cost energy efficient LED video walls may soon hit the market and thus open up new avenues for growth.
The global LED video walls market can be segmented into three parts depending upon the type of service – installation, repairing and maintenance, and rental. Among them, the rental based service accounted for about a substantial 53% share in the market in 2016. Steep upfront cost involved in installing LED video walls is one major reason for consumers looking to rent those.
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Another important reason for the popularity of the rentals segment is the availability of customized or standard configurations video walls in various shapes and sizes which are required for many business events to display animation, presentations, full-motion video, still photos, and graphics at resolutions up to 1080p and 4K. The LED video walls are powerful devices to articulate value proposition and entertain audiences.
In the near future, however, the installation service segment is expected to expand at an impressive CAGR in both the European and Asia Pacific markets owing to their demand for indoor and outdoor promotional activities and rise in sporting events, brand promotions, and advertisements.
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