The outdoor LED display market forecast will be driven by a surging demand for sophisticated applications such as billboards, scoreboards, stadium screens, perimeter boards, advertising boards, and video walls between 2016 and 2024. Advertising and corporate brands highly prefer outdoor LED display screens because of its several benefits such as HD resolution, pitch, brightness, good pixel, large display size, portability, durability, and energy efficiency.
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Outdoor LEDs come in a variety of color displays, namely tri-color, full color, and monochrome models. Undoubtedly, the full color model encompasses the best features and has the ability to depict colorful animations, images, and videos, subject to which full color outdoor LED display market will grow at a significant pace over 2016-2024. Even the tri-color display model is gaining remarkable prominence, pertaining to its rising adoption in scoreboards, digital signage, and perimeter boards. On account of the rapid development of market, tri-color industry is expected to register a CAGR of 22.3% over 2016-2024.
LED screens incorporating interactive visualization technology are forecast to be deployed increasingly across bus stops and train stations, owing to growing trend of utilizing high tech 3D powered interactive imaging. This trend is predicted to contribute heavily toward market growth.
Outdoor LEDs are used across billboards, matrix boards, perimeter boards, video walls, mobile panels, and traffic signals. Traffic light applications held more than 11.5% of outdoor LED display market in 2015 and are predicted to be worth more than USD 1.95 billion by 2024, with a CAGR estimation of 19% over 2016-2025. This growth can be primarily attributed to factors such as high energy efficiency, adaptability to varied power supply, and reduced maintenance expenses.
Outdoor LEDs that depict stupendous visibility and cost-efficiency are used by companies to advertise their products and services on billboards and hoardings. On these grounds, outdoor LED market from billboards is projected to grow at a rate of 24.8% over 2016-2024, having accounted for more than 40% of the overall revenue in 2015.
The remarkable growth of digital advertising will propel the demand for outdoor LED display market. LED billboards, though expensive, are deemed to be highly effective as opposed to printed outdoor ads, with single ads displayed for a duration of 8 seconds. Extensive utilization of these billboards will augment market in the next few years.
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Countries forming a part of the APAC region have lately been organizing sporting events on a large scale, pertaining to which Asia Pacific outdoor LED display market will grow at a CAGR of 25% over 2016-2024. Having been valued for around USD 1 billion in 2015, this regional market has also been experiencing an exponential growth in the infrastructural sector, which will lead to widespread product demand in the years to come. China and India will be the key revenue pockets driving APAC industry.
Key companies include Electronic Displays, Panasonic, Barco NV, LG Electronics, Shenzhen Dicolor, Leyard Optoelectronic, Toshiba, Sony, Optoelectronics, Panasonic, Daktronics, and Lighthouse Technologies.
Major Key Points from Table of Content:
Chapter 4. Outdoor LED Display Market, Technology Insights
4.1. Market share by technology, 2015 & 2024
4.2. Individually Mounted
4.2.1. Market estimates and forecasts by region, 2013 - 2024
4.3. Surface Mounted
4.3.1. Market estimates and forecasts by region, 2013 - 2024
Chapter 5. Outdoor LED Display Market, Application Insights
5.1. Market share by application, 2015 & 2024
5.2. LED Billboards
5.2.1. Market estimates and forecasts by region, 2013 - 2024
5.3. Perimeter LED boards
5.3.1. Market estimates and forecasts by region, 2013 – 2024
5.4. LED Mobile Panel
5.4.1. Market estimates and forecasts by region, 2013 - 2024
5.5. LED Traffic Lights
5.5.1. Market estimates and forecasts by region, 2013 - 2024
5.6. LED Video walls
5.6.1. Market estimates and forecasts by region, 2013 – 2024
5.7. Other LED Matrix Boards
5.7.1. Market estimates and forecasts by region, 2013 – 2024
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