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Outdoor LED Displays Market: Driven by China, Asia Pacific to Witness Significant Growth by 2021
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The global outdoor LED displays market is anticipated to grow from US$ 5,560.9 Mn in 2014 to US$ 15,705.7 Mn by 2021, expanding at a CAGR of 15.9% during the forecast period (2015–2021) for the installed market. Increasing number of advertisements and brand promotion activities globally is driving the market growth. Increase in demand for better clarity and high viewing experience is the one of the primary factors increasing the adoption of outdoor LED displays.
In 2014, the LED billboard segment was valued at US$ 2,427.9 Mn, and is expected to create US$ 2,847.8 Mn by the end of 2015 for the installed market. The LED video walls segment was valued at US$ 807.8 Mn in 2014, and is expected to reach US$ 948.2 Mn at the end of 2015 for the installed market. Considering the rental market for outdoor LED displays, the LED billboard segment was valued at US$ 2,158.3 Mn and is expected to reach US$ 2,550.7 Mn by the end of 2015. The LED video walls segment for rental outdoor LED displays market was valued at US$ 1,562.9 Mn and is expected to reach US$1,845.4 Mn by the end of 2015.
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In 2014, surface mounted segment was valued at US$ 2,621.4 Mn for the rental market. The segment is expected to expand at a CAGR of 17.7% over the forecast period. Increased adoption of surface mounted outdoor LED displays at conference rooms and halls in the developed regions such as Western Europe and the U.S is one of the primary factors driving the market for surface mounted technology segment.
Key players in the global outdoor LED displays market include Barco N.V, Panasonic Corporation, Daktronics Inc., Sony Corporation, LG Electronics, Toshiba Corporation, EKTA Ltd., Leyard Opto Electronics Pvt. Ltd., and Electronic Displays Inc.
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