Press release
Outdoor LED Displays Market Analysis and Forecast 2020: By Keyplayers LG Electronics Inc., Barco N.V., Galaxia Electronics, Daktronics Inc., Toshiba Corporation, Data Display Co. Ltd., Sony Corporation, EKTA Ltd., Electronic Displays Inc., Panasonic Corpo
Outdoor LED Displays
Market Overview
Outdoor light-emitting diode (LED) displays are electric and electronic products that include LED billboards, mobile LED screens, LED video walls, perimeter LED displays, LED matrix displays. Outdoor LED displays are available in different sizes, color display technologies, and resolutions as user requirements. Outdoor LED displays use a number of LEDs to display computer-programmed text and images that can easily be changed and updated through suitable software. Furthermore, outdoor LED displays to find major applications at airports, TV studios, aboard trains, bus stations, sports stadiums & arenas, retail stores and shopping centers, music concerts and live events, streets, building facades, etc.
The global outdoor LED displays market was valued for US$ 10,982.1 Mn in 2019 is expected to exhibit a CAGR of 14.6% during the forecast period
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Competitive Section
Key players operating in the global outdoor LED displays market are LG Electronics Inc., Barco N.V., Galaxia Electronics, Daktronics Inc., Toshiba Corporation, Data Display Co. Ltd., Sony Corporation, EKTA Ltd., Electronic Displays Inc., Panasonic Corporation, Leyard Opto-Electronic Company Ltd., Lighthouse Technologies Ltd., and Shenzhen Dicolor Optoelectronics Co. Ltd.
Market Dynamics- Drivers
1. Lucrative benefits provided by LED displays are expected to drive growth of the global outdoor LED displays market during the forecast period
LED displays offer exceptional features such as energy efficiency, extra durability, and are environment-friendly. Strict regulatory policies in Japan and China have increased adoption of outdoor LED displays. The outdoor LEDs save over 50% energy as compared to conventional technologies such as plasma and LCD and also result in reduced carbon emissions. The backlight source of LED displays is made with semiconductors and does not contain any filament or gas, which in turn, enhances durability of the display. Thus, these factors are expected to drive growth of the global outdoor LED displays market during the forecast period.
2. Increasing number of sports and music concerts worldwide is expected to propel the global outdoor LED displays market growth over the forecast period
Sports arenas and open-air venues are ideal venues to target audience for branding and promotion purposes. Sports events and music concerts are broadcast via television across the globe, thereby increasing visibility of LED advertising boards and displays such as LED scoreboards, LED perimeter displays, and stadium screens on television. For instance, in 12 stadiums were selected during the FIFA World Cup 2014 held in June–July 2014 in Brazil, and for the FIFA World Cup 2018 to be held in Russia, 12 stadiums were chosen with an average seating capacity of over 45,000.
Market Opportunities
1. Rising implementation of interactive and 3D format can provide major business opportunities
Outdoor LED displays to provide interactive features with support of 3D format that can create potential opportunities for market players. For instance, outdoor LEDs with a touchscreen interface can be installed at retail stores and public places, in order to allow customers to explore information displayed on screen. Moreover, 3D displays provide high definition 3D effects to consumers, which can accelerate adoption of outdoor LED display in the near future.
2. Adoption of LED screens at movie theaters in emerging economies can pose significant growth opportunities
LED displays are being increasingly adopted in movie theaters and multiplexes to offer audiences high definition, enhanced, and brighter visual experiences. For instance, by 2017, PVR Cinemas in India are set to see adoption of 50 LED screens to offers customers enhanced viewing experience. Moreover, in 2013, Lincoln Theatre in Washington DC deployed an LED screen.
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Market Trends
1. Rising adoption of LED displays such as perimeter billboards and LED scoreboards in sport arenas
Even organizers are focused on deploying LED displays such as LED scoreboards, video walls, and perimeter LED billboards in stadiums and even arenas, in order to provide enhanced viewing experience to spectators. For instance, in January 2013, in Indianapolis, U.S., the Pacers installed a 50-foot center-hung twin-screen curved screen to provide a clear vision of scores and replays to spectators.
2. Adoption of LED displays for brand advertising and promotional activities
Since outdoor LED displays offer advanced features such as high definition resolution, good pixel pitch, durability, high brightness, energy efficiency, and portability, they have been adopted for a plethora of purposes including brand advertising and promotional activities. Crowded locations such as popular areas and streets are more preferred for installation of LED displays such as billboards and video walls for brand advertisements and promotions. For instance, in August 2017, SNA, LLC installed a 20-ton LED screen at Times Square containing eight million pixels and measuring 8,500 square feet.
Key Developments
1. Key players in the market are focused on product launches, in order to enhance product portfolio. For instance, in August 2019, LG Electronics Inc. introduced a new outdoor display product for the Indian OOH display market.
2. Major companies in the market are involved in product launches, in order to expand product portfolio. For instance in Daktronics Inc. introduced new LED Video Solutions at Digital Signage Expo (DSE) 2019.
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