Rise in digital advertisements, enhanced power efficiency, and surge in number of digital sponsorships drive the growth of the global outdoor LED display market.

PORTLAND, Ore., April 14, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Outdoor LED Display Market by Type (Surface Mounted and Individually Mounted), and Application (Billboards, Mobile LED Displays, Perimeter Boards, Traffic Lights, Video Walls, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report published, the global outdoor LED display market garnered $7.42 billion in 2019, and is expected to reach $11.86 billion by 2027, registering a CAGR of 9.20% from 2020 to 2027.

Key determinants of the market-

Rise in digital advertisements, enhanced power efficiency, and surge in number of digital sponsorships drive the growth of the global outdoor LED display market. Nevertheless, high investments and installation costs impede the market growth. Contrarily, alternate LED advertisement designs to offers novel opportunities in the near future.

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Covid-19 scenario:

• Due to lockdown, the demand for outdoor LED displays has been decreased considerably.
• Production facilities and supply chain management have stopped operations to curb the spread of coronavirus.
• As lockdown restrictions are relaxed, various organizations and government have used these displays to spread awareness regarding measures to be taken for prevention of coronavirus.

The individually mounted segment dominated the market in 2019-

Based on type, the individually mounted segment held the largest share in 2019, accounting for nearly three-fifths of the global outdoor LED display market, and is estimated to maintain its dominant position during the forecast period. The individually mounted LED display provides several features such as better ultraviolet (UV) protection function, waterproof, higher brightness, better moisture protection, and quality performance of LEDs, which drive the growth of the segment. Nevertheless, the surface mounted segment is projected to register the highest CAGR of 9.8% from 2020 to 2027. This is due to increase in demand for commercial displays and features such as high denser packaging & high production rate with improved brightness.

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The billboards segment to lead the trail throughout 2027-

Based on application, the billboards segment accounted for the highest share in 2019, contributing to more than one-third of the global outdoor LED display market, and is anticipated to continue the largest share throughout the forecast period. This is owing to companies promoting & discovering their product launch on billboard, because ofits highly cost-effective, and 24/7 display information with numerous designs in the market. On the other hand, the traffic lights segment is estimated to portray the fastest CAGR of 11.4% during the forecast period. This is due to surge in usage of LED traffic lights for controlling traffic, which has effectively reduced the use of manpower for controlling the traffic. Furthermore, its low maintenance and replacement expenses are some of the factors that drive the growth of the segment.

Asia-Pacific, followed by North America, to rule the roost by 2027-

Based on region, Asia-Pacific, followed by North America held the largest share, accounting for more than one-third of the global outdoor LED display market share in 2019, and is estimated to maintain the highest share during the forecast period. In addition, this region is also expected to register at the highest CAGR of 10.5% from 2020 to 2027, owing to increase in production and consumption of outdoor LED displays & semiconductors, and large investments for advertisement fields in the countries such as such as, China, India, Japan, Taiwan, and South Korea.

Leading players in the market:

• Barco
• Electronic Displays Inc.
• Daktronics, Inc.
• Leyard
• Galaxia Electronics
• Lighthouse Technologies Limited
• LG Electronics
• Sony Corporation
• Panasonic Corporation
• Toshiba Tec Corporation

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