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What's Driving the Outdoor LED Display Market Trends? Key Companies Barco NV, Daktronics, Data Display, Buchi Labortechnik AG, Electronic Displays, Leyard Opto Electronic, LG Electronics, Lighthouse Technologies, Panasonic

03-20-2020 02:36 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Global Market Research

Outdoor LED Display Market

Outdoor LED Display Market

The remarkable growth of digital advertising will propel the demand for outdoor LED display market. LED billboards, though expensive, are deemed to be highly effective as opposed to printed outdoor ads, with single ads displayed for a duration of 8 seconds. Extensive utilization of these billboards will augment outdoor LED display market in the next few years.

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.

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Technologically, OLEDs can be either individually mounted or surface mounted. Surface mounted outdoor LED display market is anticipated to increase at a CAGR of 26.5% over the period of 2016-2024. This technology is gaining popularity over its counterpart due to high density and enhanced mechanical performance, and is slated to exhibit remarkable growth prospects in the coming years.

Individually mounted technology contributed to more than 55% of the overall outdoor LED display market share in 2015. This technology provides the benefits of bright displays, clarity, reduced heat generation, and longer lifespan, owing to which individually mounted outdoor LED displays industry will exhibit outstanding growth over 2016-2024. High adoption by retailers and builders will further propel this market, which was worth USD 1.46 billion in 2015.

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U.S. outdoor LED display market will be valued for more than USD 2.5 billion by 2024, driven by growing implementation of LEDs across prime locations (Times Square and the Broadwalk). The deployment of interactive screens embedded with 3D technology at bus and train stations and the demand for custom-made solutions will also fuel industry growth over 2016-2024.

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.

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