Global Outdoor LED Display Market Overview, 2023-28

Global Outdoor LED Display Market Overview, 2023-28

The outdoor LED display market consists of large hoardings that display live advertisements, photos, promotional videos, and other content. It is typically seen in open-air and central locations such as avenues, malls, parks, and parking lots. Additionally, the displays are made up of light-emitting diodes (LEDs), which are semiconductor chips that emit light of various colours with wavelengths in the visible spectrum. These displays make heavy use of high-brightness LEDs and are widely utilised in outdoor applications such as live commercials, billboards, video walls, and so on. Furthermore, the outdoor LED display market is designed with dual in-line package (DIP) technology, making them suitable for any weather, and the content on the displays can be seen from a long distance even during the day and night. Outdoor LED displays employ a number of LEDs to show computer-programmed text and graphics, which may be quickly altered and updated using, appropriate software. Furthermore, outdoor LED displays will find widespread use in airports, TV studios, on trains and buses, at bus stops, sports stadiums and arenas, retail stores and shopping centres, music concerts and live events, streets, building facades and so on. Because of the growing adoption of LED display advertising over paper or poster-based advertising by sponsors in entertainment shows, sporting events, and exhibitions. The increase in sporting events and exhibits, seminars, celebrations, and other similar events employing outdoor LED displays drives market expansion. Furthermore, the rise in energy consumption concerns prompts the use of this display, as it ensures high cost and power savings, making it highly energy efficient. Over the next eight years, growth is expected to be revolutionised by rising demand for wireless data connections for billboards, high resolution 10 mm signs ideal for high pedestrian traffic zones, and customizable content. In order to reach the desired demographic based on geography, customised material can be created and altered based on expected audience, scheduled events, weather conditions, and inventory flow.

According to the research report, “Global Outdoor LED Display Market Overview, 2023-28” 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. Outdoor LED displays are becoming increasingly popular for conveying advertisements successfully during games due to their high brightness in direct sunshine and durability in adverse environmental situations such as rain, heat, snow, and wind. This is also due to increased consumer spending on outdoor activities and increased government funding for sports tournaments and events. Furthermore, because outdoor LED displays are waterproof and have heat dissipation functions, they can be installed in clinics or health centres in congested areas to organise a health-related or awareness-raising event, a research fund-raising campaign, or a charity concert. Aside from that, outdoor LED displays are gaining popularity in higher education institutions for announcing school activities, events, and information, as well as improving the learning experience and school environment. Furthermore, the growing emphasis on digitised product and service promotion to engage audiences and extract maximum effectiveness from marketing messages is providing the market with lucrative growth opportunities. Aside from that, market participants are introducing premium versions of outdoor LED displays in a variety of formats for various stadium and outdoor venue applications. These displays deliver strong performance with great image quality, which is expected to have a favourable impact on the market.

The market is segmented into five major regions including North America, Europe, Asia-Pacific, South America and Middle East & Africa. Among them, Asia-Pacific region is expected to dominate the market by the end of the forecast period. Asia-Pacific has the world's largest and fastest-growing population, which means there is a high demand for outdoor advertising solutions to reach a large audience. The Asia-Pacific region has experienced significant economic growth in recent years, leading to increased spending on advertising and marketing. Asia-Pacific is home to many leading technology companies and has a strong focus on innovation, leading to the development of advanced outdoor LED displays. Many governments in the Asia-Pacific region have implemented policies to support the growth of the outdoor advertising industry, including incentives for businesses and infrastructure investments. The region is experiencing rapid urbanization, leading to higher demand for outdoor advertising in cities and urban areas. Asia-Pacific has one of the highest rates of smartphone and internet usage in the world, which means that outdoor LED displays can be integrated with digital marketing strategies to provide a more engaging and interactive experience for consumers. Outdoor LED displays in Asia-Pacific are increasingly being designed with energy efficiency and sustainability in mind, reflecting growing concerns about environmental impact. Outdoor LED displays are also used for cultural events and festivals in Asia-Pacific, reflecting the importance of visual displays and entertainment in many cultures in the region.

Based on the application, LED billboards segment is dominating the market in 2022 with more than 30% market share. LED billboards are known for their high brightness levels, making them easily visible from a distance even in bright sunlight. This helps in grabbing the attention of passers-by and commuters. LED billboards offer customization options, allowing advertisers to display multiple ads and messages in a single screen, and change them as per their needs. LED billboards consume less power than traditional billboards, reducing operational costs and making them an eco-friendly advertising option. LED billboards require minimal maintenance, reducing downtime and increasing their longevity. LED billboards offer the option to display dynamic content such as videos and animations, making them more engaging and attractive to viewers. However, LED video wall segment is growing at a higher compound annual growth rate by 2023-28. The development of new content distribution strategies as a result of the advent of new technologies like as artificial intelligence (AI), machine learning (ML), and big data has led to the expansion of the LED video wall industry. A video wall, for example, with artificial intelligence (AI) technology that allows it to show short customised communication is expected to have a larger impact on the audience. Demand from a variety of industries, including retail, transportation, media & advertising, commercial buildings, commercial electronics, and others, is likely to drive expansion in the worldwide LED video wall market. For instance, SiliconCore Technology has unveiled what it claims to be the market's highest-resolution outdoor display. The SiliconCore 1.2mm Outdoor LED Display, the company's first step into the outdoor display market, offers a sustainable and durable alternative to outdoor LCD that deviates from typical display ratios.

In terms of technology, the global outdoor LED display market is bifurcated into individual and surface mounted technology. The surface mounted segment held a major share of the total revenue in 2022. Rising demand for large screens with great viewing distance is inspiring retailers and commercial builders to opt for individual mounted technology. Individual mounted technology generates less heat and has a long lifespan as compared to traditional devices. Moreover, it produces brightened displays that provide clear readability as compared to traditional signs and billboards. In addition, the demand for advanced screen displays in automation industries, which allow workers to view magnified automobile parts from a distance, is becoming one of the most important factors driving growth in the market. In addition, LED displays that are individually mounted offer several benefits, including displays that are clear and bright as well as a reduction in the amount of heat generated. The market's most prominent trends are increasing demand for commercial displays and characteristics such as high-density packaging and high production rates with enhanced brightness. Moreover, surface-mounted LEDs are widely used in residential and industrial lighting systems and personal electronic devices such as televisions, LED screens, vehicles, and projectors. However, the improved technology of full-colour outdoor LED displays is expected to boost the outdoor LED market. One of the primary drivers of the growth of the outdoor LED market is the advancement of LED technology, which has led to the development of brighter and more vivid displays. The improvement of LED technology has also led to the development of full colour outdoor LED displays, which are capable of displaying a range of dynamic content, including videos and animations, making them a versatile and engaging advertising medium for a wide range of applications. Moreover, the continued development of LED technology has resulted in full-colour outdoor LED displays with higher resolutions, allowing for greater detail and clarity in the displayed content. This advancement in technology has also led to the development of smaller, more lightweight displays that are easier to install and maintain, making them a more convenient and cost-effective option for businesses and advertisers.

Recent Developments:
• In February 2022, Samsung launched its latest outdoor LED display, the XPR-B, which features a high brightness of up to 15,000 nits and is designed for use in outdoor environments with direct sunlight.
• In December 2021, Absen announced the launch of its new outdoor LED display product line, the HC Series, which features high contrast and brightness levels for optimal viewing in outdoor environments.
• In September 2021, Leyard announced the launch of the TWA-X Series, its latest outdoor LED display product line that features a high refresh rate and a modular design for flexible installation options.
• In June 2021, Barco announced the launch of its latest outdoor LED display product line, the XT series, which features high brightness and contrast levels, as well as a lightweight and slim design for easy installation.
• In April 2021, Daktronics announced the launch of its latest outdoor LED display product line, the DB-6500, which features a high resolution and brightness level, as well as a modular design for easy maintenance and upgrades.

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

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 covered in the report:
• North America
• Europe
• Asia-Pacific
• South America
• Middle-East & 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.