LED Video Walls Market Poised for 7.1% Y-o-Y Growth, Reaching US$ 3 Billion in 2022

For the years 2021-2022, the worldwide LED video walls market is predicted to increase by 7.1% year over year. The market is expected to increase from US$ 2.8 billion in 2021 to US$ 3 billion in 2022 as a result of ongoing advancements and evolution.

The LED video walls market is anticipated to develop at an absolute dollar rate of US$ 2.5 billion by 2032. The need for video walls is predicted to be mostly driven by the world's expanding tourism industry. Additionally, digital media has replaced traditional means as the advertisement's medium.

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Additionally, there is a noticeable growth in demand for LED video walls due to the rise of out-of-home (OOH) advertising. For example, the cruise liner terminal in Zeebrugge, Belgium, inaugurated a Philips video wall in January 2020. The port handles around 150 cruise ship arrivals and departures a year.

The need for interior LED video walls has increased due to the rising need to display different information on many needs, such as the arrival and departure of buses, airlines, and trains. Additionally, it is projected that the market for LED video walls would grow throughout the evaluation period due to the demand to show information about a variety of commodities in auditoriums, shopping centers, and other locations.

Key Players in the Global LED Video Walls Market

• Barco NV
• Daktronics, Inc.
• LG Display Co. Ltd.
• Leyard Optoelectronic Co. Ltd.
• Delphi Display Systems, Inc.

The report predicts that between 2015 and 2021, the worldwide market for LED video walls would increase at a pace of 6.8%. It is expected that throughout the aforementioned time period, rising integration of video walls and ongoing technical advancements contributed to the market's growth.

For example, in an effort to get more people into their stores, Apple constructed a video wall in January 2020 at their recently opened Stamford location. The increased demand for LED walls may be ascribed to the several benefits that LED screens provide, including reduced operating expenses, environmental friendliness, longevity, and reduced carbon footprint. Additionally, a number of corporations are implementing LED video displays for branding and advertising, which is anticipated to have significantly increased market revenue starting in 2015 to 2021.

A 6.2% growth rate is predicted for the projected period of 2022 to 2032. Because of its exceptional optical qualities, adaptability to any form or size, and ability to provide continuous pictures that draw in customers, LED video walls are expected to gain a lot of traction in the time frame specified above. Furthermore, the media and advertising industries' growing reliance on LED video wall displays is anticipated to fuel market growth. Another significant factor supporting the market throughout the projection period is the increase of outdoor events, including sporting events and political rallies.

The Transportation Industry Will Provide Paying Growth Opportunities

LED video walls are predicted to be most widely used by the transportation industry. Bus stops, train stations, and airports are major users of LED video walls. The increasing need for passenger-relevant digital material and information has led to the creation of video wall advertisements, which account for a sizeable portion of the growth in transportation media income.

Increased Investment Costs for LED Video Walls Could Stagnate the Market

The market for LED video walls has several significant obstacles, including increased investment prices and unstable financial conditions. Other digital signage technologies are more affordable than LEDs, which is expected to impede market growth throughout the projection period.

Additionally, the initial costs associated with installing the LED video wall are substantial, which is anticipated to have a major negative impact on the market during the evaluation phase. Furthermore, it is anticipated that a lack of professionalism and experience would impede the market's growth, particularly in emerging nations.

In the upcoming years, it is projected that increased investment in interactive displays and research and development (R&D) into cutting-edge display technologies such as Micro-LED and quantum dots would serve as a possible antidote to the restraints and present lucrative prospects for the market.

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Competitive Landscape

Market participants take a number of steps to provide better services and create cutting-edge goods in order to gain the lead in the worldwide LED video walls market. The following are a few recent significant market developments:

•Two new 55-inch LCD video wall panels with a 0.44 mm bezel for nearly seamless installs and an inbuilt Smart Calibration tool that reduces maintenance and installation time by 97% were released by LG Business Solutions USA in January 2020.

•Planar, a reputable manufacturer of visualization technologies located in Oregon, stated in April 2022 that it will be showcasing a wide range of cutting-edge broadcast solutions at NAB 2022. The business will showcase cutting-edge innovations for broadcast production requirements. It will cover everything from state-of-the-art motion capture (Mocap) technologies for precise camera tracking to cutting edge fine pitch LED display solutions for in-camera virtual creation. Additionally, NAB 2022 will be the first NAB exhibition after Planar Studios opened in 2021.

Key Segments Profiled in the Global LED Video Walls Market

• By Installation Type :
o Indoor
o Outdoor
• By Service :
o Installation
o Repairing/ Maintenance
o Rental
• By Region :
o North America
o Europe
o Asia Pacific
o Middle East & Africa
o South America

The market's positive outlook underscores the importance of innovation and the continuous development of new features, such as higher resolutions, enhanced brightness, and energy efficiency. These advancements not only improve user experience but also open up new application possibilities, driving broader market penetration. The forecasted growth highlights the critical role of LED video walls in modern digital signage and display solutions, ensuring their continued relevance and popularity in the coming years. As the market evolves, manufacturers and service providers will need to focus on delivering cutting-edge technologies and tailored solutions to meet the diverse needs of their clients, securing a strong market position and fostering sustainable growth.

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This release was published on openPR.