Global Outdoor LED Display Market Outlook, 2028

Global Outdoor LED Display Market Outlook, 2028

Outdoor LED displays are electronic display boards that display video, images, animations, and other visual material using light-emitting diodes (LEDs). These displays are intended to be used outdoors and can resist exposure to various weather conditions such as rain, wind, and sunlight. Outdoor LED displays are often used to display information and express messages to big audiences in advertising, sports stadiums, transit hubs and public spaces. These displays are frequently larger than indoor LED displays and come in a variety of sizes and resolutions. Outdoor LED displays have the benefit of being bright and visible, making them suited for usage in locations with high ambient light levels. They are also more energy efficient and last longer than other display technologies. Market growth is being driven by rising demand for digital advertising and the growing popularity of large-scale events. The expansion of exhibitions and sporting events, ceremonies, conferences, and other comparable events are driving forces in the outdoor display market. Sponsors can more effectively present information about their company's products and reach a broader audience at a cheaper cost by advertising and displaying their offerings to potential customers at popular events. Furthermore, these displays provide a viable medium for displaying dynamic data, which is relatively easier to manage than static data, as well as the ability to implement instant changes in the displays while the events are occurring. In recent years, the rising usage of advanced technology tools and devices in human lives has led in a strong demand for electronics around the world. With enormous advances in display technology over the last decade, as well as the development of interactive displays that can take user commands by touch, stylus, or other peripheral devices, digital displays have become increasingly vital in a digital world.

According to the research report, “Global Outdoor LED Display Market Outlook, 2028” published by Bonafide Research, the market is expected to cross USD 17 Billion market size, increasing from USD 11.05 Billion in 2022. The global market is forecasted to grow with 8.21% CAGR by 2023-28. Disposable income has expanded enormously in recent years across the globe. This has enabled consumers to spend more money on luxury items such as sophisticated LEDs for entertainment. Furthermore, technological advancements have revolutionised the media industry, which is a major factor driving the growth of the global outdoor LED display market. For example, Daktronics Inc., a provider of visual communication and dynamic audio systems, partnered with Drexel University in Pennsylvania, U.S., in February 2023 to manufacture and install an indoor audio system and twenty-two new LED displays at the university campus at the Daskalakis Athletic Centre in Philadelphia, Pennsylvania. The project is a five-display center-hung design that was finished in time for the 2022 winter sports season. Daktronics Inc. worked with Qatari Diar and Lusail Boulevard in January 2023 to produce and install eight cutting-edge LED displays along Qatar's Lusail Commercial Boulevard. In the middle of 2023, the screens were installed along the major route to Lusail Stadium and switched on in early September to display sponsors and other public messaging. Interactive displays are widely used in a variety of industries for a variety of applications, and their demand is expected to rise in the near future as a result of a growing set of applications, increased R&D investments, increased gamification, growing digitization, rising internet penetration, and changing consumer preferences for technologies. Outdoor LED displays, on the other hand, can be costly to install and maintain, and they demand a large amount of power to operate. They also have limits in terms of viewing angles, colour accuracy, and close-up image quality.

Based on the report, the global market is segmented into five major regions including North America, Europe, Asia-Pacific, South America and Middle East & Africa. Among them, Asia-Pacific is leading the market with more than 40% market share in 2022. Demand for outdoor LED displays has skyrocketed in Asia Pacific, home to some of the world's largest and fastest-growing economies, including China, India, and Japan. With the growing popularity of outdoor entertainment, the demand for digital signage solutions is increasing in the retail and tourism industries. For example, Seoul uses LED screens to broadcast music festival schedules, artist information, and event updates. Many businesses in Asia Pacific have invested in outdoor LED screens to display real-time traffic information, emergency alerts, and weather information, among other things. Outdoor LED screen manufacture technically entails the creation of LEDs of various colour wavelengths on printed circuit boards (PCBs). Dual-inline packaging (DIP) or surface mounting device (SMD) is two options for packaging. These screens are strong and resistant to sun, pollution, and moisture damage. The increased preference for LED display advertising over paper or poster-based advertising by sponsors in entertainment shows, sports events, and exhibits drives the outdoor LED display market growth. The adoption of fine-pitch outdoor LED displays is increasing, especially in commercial applications such as advertising and retail, due to their high resolution and pixel density, which allows for more detailed and realistic visuals. Despite the dominance of large players in the outdoor LED display market; there is a growing trend of small and medium-sized enterprises (SMEs) entering the market and offering innovative solutions, which is driving competition and innovation. In recent years, outdoor LED displays have been used for a wide range of creative and innovative applications, such as interactive displays that respond to touch or movement, and displays that use augmented reality to enhance user experience.

The market is divided into two types of mounted technology: individually mounted and surface mounted. The surface mounted category led the overall market, accounting for 65% of the market in 2022. A surface mounted display is an electronic billboard or sign composed of a grid of LEDs fixed directly to a flat surface, typically a metal or plastic frame. The grid-like arrangement of the LEDs creates a large display capable of displaying real-time text, images, and video. In contrast to individually installed displays, the LED modules on a surface mounted display cannot be replaced, therefore if one LED fails, the entire module must be replaced. Despite this disadvantage, surface mounted displays are preferable to individually installed displays due to their lighter weight and ease of installation. The individually mounted category, on the other hand, is expected to develop the fastest over the projected period. A matrix of light-emitting diodes put on independent circuit boards or modules makes up an individually mounted display. A big display is then created by arranging these modules in a grid. The display, which can display text, images, and video in real time, is frequently used for outdoor advertising, public information, and entertainment purposes. The increased demand for large displays with extended viewing distances is expected to drive commercial developers and merchants to adopt this technology. The market for colour display is divided into three categories including monochrome display, tri-color display, and full colour display. The full colour display market is expected to lead the industry in 2022. Throughout the forecast period, it is expected to grow at the fastest CAGR of more than 8%. A full-color display is a type of electronic billboard or sign that is made up of a grid of light-emitting diodes that generate different colours of light. A full-color display has the advantage of producing realistic, high-quality images, making it ideal for usage in situations where visibility is critical, such as in indirect sunlight. Full-color screens, on the other hand, are likely to be more expensive and demanding to maintain than monochrome or tri-color displays. The tri-color segment, on the other hand, is expected to grow at a significant CAGR throughout the projection period. Outdoor advertising, public education, and entertainment are all common uses for tri-color displays. Tri-color displays have the advantage of displaying brilliant, eye-catching images, making them ideal for use in environments where visibility is critical, such as in direct sunlight. However, tri-color displays may be more expensive and difficult to maintain than monochrome displays. Tri-color LEDs are commonly used in indication lamps that may display three different statuses or conditions.

The market is divided into four application categories including LED billboards; perimeter LED boards, LED mobile panels, LED traffic lights, LED video walls, and LED matrix boards. LED billboards are predicted to dominate the market, with a market share of about 30% by 2022. Outdoor advertising, public education, and entertainment are common use for LED billboards. LED billboards can be visible in a range of settings, including highways, cities, and sporting events. LED billboards provide several advantages over traditional printed billboards, including the ability to display dynamic, animated content, the ease and speed with which the content may be altered, and the ability to function continuously. They are also more environmentally friendly because they use less energy and have a longer lifespan than traditional billboards. However, the LED video walls segment is expected to grow at the fastest CAGR during the forecast period. LED video walls are massive displays made up of several individual LED panels joined together to form one large screen. Growing tourism around the world is projected to play a big role in driving demand for video walls. Furthermore, the mode of advertisement has shifted from traditional to digital media. Furthermore, with the rise of out-of-home advertising (OOH), the demand for LED video walls has skyrocketed. In January 2020, for example, a Philips video wall was placed in the cruise liner terminal in Zeebrugge, Belgium. The port handles around 150 cruise arrivals and departures each year. The growing need for interior LED video walls has increased due to the growing demand to display various information regarding demands such as the arrival and departure of buses, airlines, and trains. Furthermore, the requirement to display information about various items in auditoriums, shopping malls, and other locations is expected to strengthen the market for LED Video walls during the evaluation period. Furthermore, Orlando International Airport installed a 700-display video wall that provides cinematic video and up-to-date flight details, check-in, and location finding via the Automated People Mover (APM) and North Terminal. With the increasing shift in consumer preferences and behaviour, players have made strategic investments in their products. This will almost certainly assist the market in the next years. According to the International Air Transport Association (IATA), air travel in India is rapidly expanding. India boasts the world's fastest-growing domestic air travel market. The rapid development of the country's airports is expected to produce significant demand for LED video walls, benefiting the market throughout the projected period.

As consumers become more environmentally conscious, there is a growing trend towards the use of energy-efficient and environmentally friendly materials in outdoor LED displays, such as recyclable metals and biodegradable plastics. Transparent LED displays are rapidly gaining popularity, as they allow natural light to enter a space while still providing information and advertising. These displays are being used in a variety of settings, including retail storefronts, airports, and museums. The demand for interactive LED displays is growing, with displays being used in various applications, including retail, education, and entertainment. Interactive displays can respond to touch, movement, and voice commands, allowing users to interact with the content. Advancements in LED technology, such as the development of micro-LEDs and mini-LEDs, are driving innovation in the outdoor LED display market. These technologies offer improved colour accuracy, higher brightness, and lower power consumption, allowing for more efficient and sustainable displays.

Recent Developments:
• In March 2023, Shenzhen Absen, a leading supplier of LED display solutions, launched the new MicroLED KLCOB series. The launching of new technology will bring a paradigm shift in the LED display business in the coming years.
• In July 2022, Samsung created a new virtual production set in collaboration with the Asian entertainment company CJ ENM. It is one of the largest in the world, with micro LED technology, a wall system, and real-time connected cameras. The CJ ENM studio has the micro LED technology from Samsung via 'The Wall,' a screen of more than 1,000"" with a custom oval design 20 meters in diameter and seven meters high that supports a 30,720 p resolution (32K) x 4,320p (4K). 'The Wall's' specifications are customizable to suit the requirements of content creators and the space, such as installation on the roof with a convex or concave design.
• In April 2022, the Oregon-based Planar, a known visualization technology provider, announced its plans to prepare a diverse portfolio of emerging broadcast technologies at NAB 2022. The enterprise will demonstrate the modern developments for broadcast production needs. It will range from cutting-edge fine pitch LED display solutions for in-camera virtual production to state-of-the-art motion capture (Mocap) solutions for fine camera tracking. NAB 2022 also marks the first NAB show since the launch of Planar Studios in 2021.
• In March 2022, Samsung Electronics partnered with The Forestias by MQDC, Thailand's most significant property development project, combining forest with residences and commercial areas. Samsung supplied its state-of-the-art display technology, The Wall, to The Forest Pavilion, located at the heart of the project in Bangkok, to showcase the most immersive cinematic experience. The Wall is the world's first modular MicroLED technology that delivers incredible definition without size, resolution, or form restrictions. This innovation enables a 360-degree theater in The Forest Pavilion that lets the audience enjoy a one-of-a-kind visual experience.
• In March 2022, Sharp NEC Display Solutions, a projector and display designer announced to help Avison Young, a commercial real estate business, to deliver visuals to its visitors, tenants, and employees at its commerce building in downtown San Diego. The 150-panel, 20-foot, 17-inch dvLED video wall in the lobby of its 655 W. Broadway commerce building uses a 2.5-millimeter pixel pitch to showcase natural scenes and artistic visualizations.
• In January 2022, University Hospitals Authority and Trust (UHAT) in Oklahoma City needed to upgrade the laser projection system in their Rainbolt Family Auditorium, which is used by the entire OU Health campus. UHAT selected Samsung's Fine Pitch IE015R model, a 4K-enabled LED video wall, which delivered the clarity UHAT needed to broadcast high-resolution imagery at meetings, conferences, ceremonies, and more. Samsung's installation strategy ensured every element was in place and the system integrated with UHAT's existing setup. Samsung's LED video wall turned the Rainbolt Family Auditorium into a medical campus showpiece. And it ensured that UHAT could provide exceptional service to students, staff, and visitors.

Covid-19 Impacts:
The COVID-19 epidemic has had a negative influence on the outdoor LED display business since a large portion of the global workforce is working from home. This has led to a decrease in advertising spending, which has impacted demand for outdoor LED displays. Although the COVID-19 pandemic has temporarily halted field work on several major projects, the market is expected to remain robust, with cumulative shipments remaining marginally unaffected over the next three years beginning in 2020. The COVID-19 epidemic has had an impact on the global outdoor LED display business. New projects around the world have been halted, affecting demand in a variety of industries such as manufacturing, industrial, and retail. Although market participants faced minimal impact in terms of procuring raw materials, time and shipping costs remained a major concern. Furthermore, as investments in the development of smart cities increased during the pandemic, the demand for outdoor LED displays is expected to increase post-pandemic.

Major Companies present in the market:
LG Electronics Inc., Barco NV , Sony Corporation, Daktronics Inc., Toshiba Corporation, Ekta Ltd., Panasonic Holdings Corporation, Electronic Displays Inc., Leyard Opto-Electronic Company Ltd. , Lighthouse Technologies Limited., Shenzhen Dicolor Optoelectronics Co., Ltd., Shenzhen Absen Optoelectronics co., Ltd, Liantronic co., Ltd, Unilumin Group Co., Ltd, Infiled Electronics co., Ltd, Shanghai Sansi Electronic Engineering Co., Ltd., Mitsubishi Electric Corporation, Optec Displays Inc. , Ledman Optoelectronic Co.,ltd., Huaxia Display Co., Ltd

Considered in this report
• Geography: Global
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• Global Outdoor LED display market with its value and forecast along with its segments
• Region-wise Outdoor LED display market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions & Countries covered in the report:
• North America (United States, Canada, Mexico)
• Europe (Germany, United Kingdom, France, Spain, Italy, Russia)
• Asia-Pacific (China, Japan, India, Australia, South Korea)
• South America (Brazil, Argentina, Colombia)
• Middle-East & Africa (UAE, Saudi Arabia, South Africa)

By Mounted Technology
• Surface-Mounted Outdoor LED Display
• Individually Mounted Outdoor LED Displays

By Color Display
• Full Color Display
• Tri-Color Display
• Monochrome Display

By Application
• LED Billboards
• Perimeter LED Boards
• LED Mobile Panel
• LED Traffic Lights
• LED Video Walls
• LED Matrix Boards

The approach of the report:
This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations, and organisations related to the Outdoor LED display industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.

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