New York, United States , May 22, 2023 (GLOBE NEWSWIRE) -- The Global Outdoor LED Display Market Size is to grow from USD 7.58 billion in 2022 to USD 29.87 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 14.7% during the forecast period.
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Outdoor LED displays are large screens that are designed to be used in outdoor settings. They use light-emitting diodes (LEDs) to produce bright, high-resolution images that are visible even in direct sunlight. These displays are commonly used for advertising, entertainment, and information dissemination in public spaces such as stadiums, airports, and shopping centers. Outdoor LED displays are weather-resistant, durable, and energy-efficient, making them a popular choice for outdoor applications. They are available in various sizes, resolutions, and pixel pitches, allowing for customization based on specific needs and preferences. Outdoor LED displays have become increasingly popular due to their ability to grab attention and deliver dynamic content to large audiences.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on "Global Outdoor LED Display Market Size, Share, and COVID-19 Impact Analysis, By Technology (Individually Mounted and Surface Mounted), By Color Display (Monochrome Display, Tri-Color Display, and Full-Color Display), By Application (LED Billboards, Perimeter LED Boards, LED Mobile Panel, LED Traffic Lights, LED Video Walls, and Other LED Matrix Boards), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2032." Get Detailed Report Description Here:
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The individually mounted segment is expected to grow at a CAGR of 16.1% during the forecast period.
Based on technology, the global outdoor LED display market is segmented into individually mounted and surface mounted. The individually mounted segment is anticipated to witness the fastest growth in the outdoor LED display market due to its ability to offer greater flexibility and customization compared to other mounting methods. Individually mounted displays can be arranged in various shapes and sizes, and are suitable for curved or irregular surfaces, making them ideal for creative and unique outdoor advertising displays. Additionally, the increasing demand for transparent displays, which require individually mounted LED modules, is expected to drive the growth of this segment. The individually mounted segment is expected to witness significant growth in applications such as retail, hospitality, and transportation.
LED billboards segment held the largest market share of around 32.4% in 2022.
Based on application, the global outdoor LED display market is segmented into LED billboards, perimeter LED boards, LED mobile panels, LED traffic lights, LED video walls, and other LED matrix boards. The LED billboards segment dominated the outdoor LED display market due to several factors. LED billboards offer a larger surface area for advertising, allowing for better visibility and impact compared to other types of displays. Additionally, LED billboards can be customized to display dynamic and interactive content, making them ideal for advertising in high-traffic areas such as highways, airports, and shopping centers. The increasing popularity of digital out-of-home advertising and the growth of the sports and entertainment industry are also driving the demand for LED billboards in the market.
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North America is predicted to grow at a CAGR of around 16.5% over the projected period.
Based on region, the North American segment is anticipated to witness the fastest growth in the outdoor LED display market due to several reasons. Firstly, the region has a high concentration of major players in the market, such as Daktronics, Barco, and Panasonic, which are investing heavily in research and development to enhance their product offerings. Secondly, the increasing adoption of digital signage in the retail and transportation sectors, along with the growth of the sports and entertainment industry, is driving the demand for Outdoor LED Displays in the region. Lastly, the growing popularity of smart city initiatives and advancements in display technology are expected to fuel the growth of the Outdoor LED Display market in this region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global outdoor LED display market include Daktronics, Barco, Samsung Electronics, LG Electronics, Panasonic Corporation, Sony Corporation, Leyard Optoelectronic, Absen, Unilumin, Lighthouse Technologies, Mitsubishi Electric Corporation, Toshiba Corporation, Shenzhen Dicolor Optoelectronics, Yaham Optoelectronics, and Sansitech.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global outdoor LED display market based on the below-mentioned segments:
Outdoor LED Display Market, By Technology
- Individually Mounted
- Surface Mounted
Outdoor LED Display Market, By Color Display
- Monochrome Display
- Tri-Color Display
- Full-Color Display
Outdoor LED Display Market, By Application
- LED Billboards
- Perimeter LED Boards
- LED Mobile Panel
- LED Traffic Lights
- LED Video Walls
- Other LED Matrix Boards
Outdoor LED Display Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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