LED displays are the systems that consist of LED panels, strings or tiles, a video processor, data distributors, and signal processors. The market for outdoor LED displays market serves a variety of end-use applications and LED displays are used in outdoor premises such as sports arenas and event venues to address large audiences or at airports, petrol pumps, or retail stores for advertising or customer engagement. The high brightness, contrast, and color saturation offered by LED displays maket them suited to almost any location, be it industrial, commercial, or governmental premises.
In today’s fast-evolving world, where spectators demand a lot more from their entertainment experiences, interactive and life-like LED displays, banners, videos, and architectural lighting help in enhancing the ambiance and creating an unforgettable visit to any place. With buildings being transformed to striking, artistic focal points with LED display systems, the visitor is given a spectacular arena experience, shaping positive customer experiences, and creating awareness about a brand.
Wiser Alternative to Other Display Options: Economy-, Quality-, and Maintenance-wise
LED displays are also known for their unparalleled flexibility in terms of size and suitability in any environment or weather. The wide ranging capabilities and flexibility of LED displays are unmatched by most other popular display technologies such as LCD or plasma. The sustainability, energy efficiency, and low maintenance costs of LED displays also work in their favor, making them more preferred than other display technologies.
The numerous applications of LED displays have made them an invaluable resource for communication in today’s digitally advanced world. As the multi-functional, multimedia LED displays continue to develop never-before-possible opportunities for entertaining, advertising, and informing, the global market for outdoor LED displays is expected to grow at an unprecedented pace in the coming years.
High Growth Prospects and a Consolidated Marketplace
Persistence Market Research, in its latest research report on the global outdoor LED displays market, states that the market for installed LED displays will expand at a 15.9% CAGR between 2015 and 2021, and rise from a valuation of US$6,477.1 mn in 2015 to US$15,705.7 mn by 2021.
The market for outdoor LED displays is highly consolidated in terms of end-use application, display color, and regional markets. Of the key application areas of outdoor LED displays (which include LED billboards, LED video walls, LED mobile screens, LED matrix displays, and LED traffic lights), the market was led by the LED billboards segment in 2014. This market segment accounted for a 46% share in the global market and is expected to expand at a 16.7% CAGR between 2015 and 2021.
Of the key color display types of LED displays available on the market (monochrome display, full-color display, and tri-color display), the market segment of full-color display led the global market with a 59.9% share of the overall LED displays installed across the globe in 2014. Of the overall LED displays rented across the globe too, the segment of full-color displays leads, with 58.8% in 2014. Of the key regional markets, North America is expected to lead the global outdoor LED displays market by accounting for a 31.6% share in it by the end of 2021.
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