Wilmington, Delaware, United States, Jan. 29, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global LED video walls market was projected to attain US$ 18.2 billion in 2021. It is anticipated to garner a 11.3% CAGR from 2022 to 2031 and by 2031, the market is likely to attain US$ 53.4 billion by 2031.
The education industry makes extensive use of outdoor LED displays and outdoor TVs for conference alerting systems, campus directories or navigation, message boards for events, and time and weather updates. LED video walls may make a unique impression in the retail industry with their eye-catching displays and excellent image quality, which boost brand communication.
The near orbit picture quality is great due to the small pixel pitch, which also improves brand communication. Along with a 100,000-hour service life, display board owners and advertisers are benefiting from a strong return on investment (ROI).
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Key Findings of the Market Report
- Outdoor LED video walls are highly brilliant and feature a sturdy construction.
- These walls have outdoor displays with a range of characteristics, including weather resistance, finer pixel pitches for outdoor use, high brightness, energy efficiency, etc.
- The growing need for LED video walls in the hotel & restaurant, sports, and education sectors is the main reason for the preference for installation-style LED video walls.
- In addition, they facilitate brand communication, continue to be the industry leader in meeting the needs of corporate and private event attendees, and use up to 30% less energy in sports bars equipped with direct-lit LED technology.
- LED video walls also provide excellent picture quality, energy savings, an integrated management system, and improved brightness and uniformity of the screen.
Market Trends for LED Video Walls
- The global LED video wall market has been segmented into end-use industries, which include building & construction, sports, media & entertainment, retail, BFSI, hotel & restaurants, and others (such as automotive, transportation, etc.). In 2021, the sports and media & entertainment end-use sectors led the global market for LED video walls.
- Due to the growing number of sporting events held worldwide, there is a relatively high demand for LED video walls, These walls help keep spectators interested and provide a streamlined experience at sports clubs, stadiums, etc.
- Since LED video walls are utilized to improve the viewing experience in entertainment places like nightclubs, movie theaters, and event venues, which helps engage and excite customers, their use is also becoming more widespread.
Global Market for LED Video Walls: Regional Outlook
- North America accounted for a sizable portion of the global LED video walls market in 2021, owing to the region's relatively high demand for LED video walls, both inside and outdoors.
- Two more significant global markets for LED video are Asia Pacific and Europe. In these areas, the most common end-uses of LED video walls are retail, education, and sports.
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Global LED Video Walls Market: Key Players
Key companies are investing heavily in thorough research and development, mostly for the purpose of creating environmentally friendly goods. Key tactics used by market participants include product portfolio diversification, the introduction of new products, and mergers and acquisitions.
The following companies are well-known participants in the global LED video walls market:
- Barco NV
- Daktronics Inc.
- Delphi Display Systems Inc.
- Electronic Displays Inc.
- Leyard Optoelectronic Co. Ltd.
- LG Display Co. Ltd.
- Lighthouse Technologies Ltd.
- Panasonic Corporation
- Shenzhen Dicolor Optoelectronics Co Ltd.
- Shenzhen Unilumin Group Co. Ltd
- Toshiba Corporation
- ViewSonic Corporation
- Mitsubishi Electric Corporation
Key developments by the players in this market are:
- Barco NV unveiled TruePix, a revolutionary LED video wall that is expected to revolutionize the LED video wall industry, in May 2022. Thanks to its creative and astute engineering, this device has provided a high-end visualization experience that guarantees an exceptional and durable watching experience. TruePix delivers a seamless experience in control rooms, TV studios, lobby areas, boardrooms, auditoriums, and other business applications.
- Barco NV unveiled their news series IEX for LED video walls in June 2020. For more dynamic, immersive, and cooperative engagement in corporate spaces and other indoor domains like TV studios and control rooms, this line of indoor LED video walls has a tiny pixel pitch.
Global LED Video Walls Market Segmentation
Deployment Type
- Indoor
- Outdoor
Service Type
- Installation
- Repairing/Maintenance
- Rental
End-Use Industry
- Media & Entertainment
- Sports
- Education
- Retail
- BFSI
- Hotel & Restaurants
- Building & Construction
- Others (Automotive, Transportation, etc.)
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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