Press release
Outdoor LED Display Market Growing at CAGR of 20% by 2024, Key players include BÜCHI Labortechnik AG, Daktronics, LG Electronics, Panasonic, Sony, Toshiba and Epistar
Outdoor LED Display Market
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The Major Players Operating in The Outdoor LED Display Market-
1. BARCO NV
2. Daktronics
3. Data Display Systems, LLC
4. BÜCHI Labortechnik AG
5. Electronic Displays Inc
6. Leyard Optoelectronic Co., Ltd.
7. LG Electronics
8. Lighthouse Technologies
9. Panasonic
10. Shenzhen Dicolor Optoelectronics Co.,Ltd
11. Sony
12. Toshiba
13. Epistar
Electronic signs used in billboards display multiple messages, and these messages can be changed either remotely or by programming the display on the site. Growing demand for electronic billboards over printed billboards with rising number of advertisements will be responsible for driving outdoor LED display market size. As the cost of billboards continues to decrease, growth in developing economies could boost sales significantly.
Surface mounted technology is projected to grow with 26.5% CAGR from 2016 to 2024. Rising prominence of these devices may offer tough competition to conventional systems in the coming years. Advent of projector as well as LCD technology is anticipated to negatively impact demand. However, rising preference for energy efficient device, evolving screen dynamics and low operating costs may fuel outdoor LED display market share for various advertisement and sports events.
Outdoor LED Display Application Analysis (Revenue, USD Million, 2013 - 2024)
• LED Billboards
• Perimeter LED boards
• LED Mobile Panel
• LED Traffic Lights
• LED Video walls
• Other LED Matrix Boards
Features such as high cost-effectiveness, incredible visibility and dynamic content will drive growth in the billboards segment. Traffic lights accounted for more than 11.5% of the global outdoor LED display market share and is forecast to be valued over USD 1.95 billion by 2024. Growth in the segment can be dedicated to attributes such as ability to readily adopt to power supply changes, high energy efficiency and low maintenance cost.
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Asia Pacific outdoor LED display market size was valued at over USD 1 billion in 2015. It is predicted to grow at nearly 25% CAGR from 2016 to 2024, owing to growing number of sports activities along with infrastructural development across emerging nations such as India and China. U.S. outdoor LED display market share accounted for more than 50% of the regional revenue in 2015 and is likely to be valued over USD 2.5 billion by 2024. Growth in the region can be dedicated to rising demand for customized solutions along with increasing technology usage in numerous prominent streets including New York, Times square and The Boardwalk in Atlantic City.
In 2015, North America accounted for over 19% of the revenue generated. Rising technology implementation in various locations including The Boardwalk and Times Squar is anticipated to propel demand through 2024. Bus stops and train stations are set to witness high deployment of interactive screens.
Browse Complete Report Summary: https://www.gminsights.com/industry-analysis/outdoor-LED-market
The outdoor LED display market supply chain includes raw material/component suppliers, manufacturers, distributors/sales team, and end-use areas. Raw materials used in manufacturing include data collectors, back covers, driver chips, PCBs, LED lights, cabinets, and LED tiles. The industry comprises a large number of raw material providers include Osram Opto Semiconductors, Abacus LED, Epistar Corp., Aixtron AG, Universal Display Corporation, and Lighthouse Technologies Ltd.
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