U.S. outdoor LED displays market will be valued for more than USD 2.5 billion by 2024, driven by growing implementation of LEDs across prime locations (Times Square and the Broadwalk). The deployment of interactive screens embedded with 3D technology at bus and train stations and the demand for custom-made solutions will also fuel industry growth over 2016-2024.
Growing inclination of established corporate brands to advertise products with LED displays will positively boost outdoor LED displays industry size. Rising demand for billboards with wireless connections (for regularly changing content) and high resolution displays for scoreboards, hoardings, stadium screens, etc., will fuel the industry trends. Market players often engage in product innovation to be able to cater to corporate demands. For instance, Panasonic, which is already an official partner of the Rio 2016 Olympics and the Rio 2016 Paralympics, recently announced that the company will supply large outdoor LED displays systems to the Live Site, an outdoor entertainment area in Rio de Janeiro, to enhance the audience experience of viewing the Games.
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LED displays are manufactured with the help of PCBs, PBBs, LED tiles, LED lights, data collectors, driver chips, cabinets, and back covers. With advertising gaining high ground for company expansion, corporations are vying with one another to advertise their product offerings in the best ways. This leads to high demand for OLEDs for stadiums, traffic signals, weather forecast, corporate events, cabs, and video walls. According to Global Market Insights, Inc., Outdoor LED Displays Market will be valued at USD 22.4 billion by 2024, growing at an impressive CAGR of more than 20% over 2016-2024.
echnologically, OLEDs can be either individually mounted or surface mounted. Surface mounted outdoor LED displays industry is anticipated to increase at a CAGR of 26.5% over the period of 2016-2024. This technology is gaining popularity over its counterpart due to high density and enhanced mechanical performance, and is slated to exhibit remarkable growth prospects in the coming years.
Individually mounted technology contributed to more than 55% of the overall outdoor LED displays market share in 2015. This technology provides the benefits of bright displays, clarity, reduced heat generation, and longer lifespan, owing to which individually mounted outdoor LED displays industry will exhibit outstanding growth over 2016-2024. High adoption by retailers and builders will further propel this market, which was worth USD 1.46 billion in 2015.
OLEDs are gaining prominence globally due to their increased application scope. North America covered more than 19% of the overall revenue share in 2015, with U.S. being the key contributor, having covered more than 50% of the regional industry share. High infrastructural development coupled with the increased number of sporting events will act as the key drivers for China outdoor LED displays market, which registered a revenue of USD 1.18 billion in 2015.
India is emerging as a global sports hub, which will prompt the usage of outdoor LEDs for sporting events, stadiums, mobile panels, and billboard advertising. This, in turn will impel India outdoor LED displays industry growth over the years to come. Supported by India and China, APAC outdoor LED displays market, having recorded a revenue of more than USD 1 billion in 2015, will grow at a CAGR of 25% over 2016-2024.
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Partial Chapter of the Table of Content
Chapter 3. Outdoor LED Display Industry Insights
3.1. Industry segmentation
3.2. Industry Size and forecast, 2013 – 2024
3.3. Industry ecosystem analysis
3.4. Industry Impact forces
3.4.1. Growth drivers
22.214.171.124. Growing demand across multiple applications
126.96.36.199. 3D & interactive format implemenatation
3.4.2. Industry pitfalls & challenges
188.8.131.52. High initial investment
3.5. Growth potential analysis
3.6. Porter’s analysis
3.7. Key competitor analysis, 2015
3.8. PESTEL analysis
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