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Prosperity of Industrialization to Drive Outdoor LED Display Market Market at 88.0% CAGR During 2017-2021
Introduction of low-priced products is also what top companies in this market are striving for. A case in point is Data Display Co. Ltd. The company acquired by Daktronics Inc., focuses on developing innovative products for public places such as railway stations, airports, road signage, and bust stops. Some companies have also resorted to inorganic growth by entering into strategic alliances. For example, in August 2015, Leyard Opto-Electronics acquired Planar Systems Inc.
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LED Billboards to Continue to Remain at the Forefront
The global market for outdoor LED display is segmented on the basis of application into LED billboards, LED mobile screens, LED video walls, premier LED boards, LED traffic lights, and other LED matrix displays. Of them, LED billboards account for the leading market share; the segment is likely to hold prominence in the years ahead too. This is mainly because adoption of LED billboards is likely to continue to grow as traditional display technologies such as plasma, LCD screens, and projectors are facing performance concerns.
LED perimeter billboards account for substantial demand as they are deployed at stadiums, sports arenas for live display of matches and sports events. However, the LED video walls segment is anticipated to display the leading growth rate over the report’s forecast period. This is because LED video walls are extensively used in live concerts and trade shows which are increasingly gaining popularity.
Advantages of Rigid Support Leading to Increasing Adoption of Surface Mounted Displays
On the basis of mounted technology, the global outdoor LED display market can be segmented into individually mounted and surface mounted. Of the two, individually mounted holds dominance in the overall outdoor LED display market. With the sharp growth of the advertising industry, individually mounted LED displays are most widely used due to ease of portability. Individually mounted LED display are preferred for temporary applications such as LED billboards for temporary promotional campaign and video walls for events. The individually mounted technology segment is anticipated to be worth US$7,987.3 mn increasing from US$4,812.0 mn in 2017.
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However, the market is witnessing a shift from adoption from individually mounted LED displays to surface mounted LED displays. This is mainly because surface mounted technology offers advantages of rigid support to LED displays.
In terms of color display, the market is segmented into monochrome display, tri-color, and full color display. Of them, full color display exhibits the leading demand due to multi-functionality of full color LED displays. Growth of full color display is mainly because of their widespread use in developed countries that host a number of high profile sporting and entertainment events. Moreover, increasing demand for full color screens for fixed installed LED billboards for screening of visual content and for perimeter boards for screening of advertisements is leading to declining demand for monochrome and tri-color LED displays in developed economies.
Region-wise, North America holds the leading market share among other key regions for outdoor LED display. The dominance of the region is mainly because of increasing adoption of LED displays for advertisements and promotional activities. However, Asia Pacific is anticipated to register the leading growth rate due to rapid urbanization leading to construction of modern shopping complexes and entertainment arenas in emerging economies.
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