SAN FRANCISCO, March 7, 2023 /PRNewswire/ -- The global outdoor LED display market size is expected to reach USD 23,381.5 million by 2030, registering a CAGR of 15.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. The increasing demand for digital advertising and the rising popularity of large-scale events drive market growth.
Key Industry Insights & Findings from the report:
- In February 2023, Daktronics Inc., a provider of visual communication and dynamic audio systems, partnered with Drexel University, in Pennsylvania, U.S. to manufacture and install an indoor audio system and twenty-two new LED displays at the university campus at the Daskalakis Athletic Center in Philadelphia, Pennsylvania. The installation features a five-display center-hung design completed ahead of the 2022 winter sports season.
- The individually mounted segment is expected to hold the largest market share and expand at a CAGR of 16.7% from 2023 to 2030. The growing need for huge displays with long viewing distances is projected to push commercial builders and retailers to use this technology.
- The full color display segment is projected to exhibit the highest CAGR in the forecast period. The benefit of a full-color display is that it can create realistic, high-quality images, which makes it perfect for use in settings where visibility is crucial, including indirect sunlight.
- India, China and Japan are the main source market for outdoor LED displays. The demand for digital signage solutions is growing in the retail and tourism industries with the growing popularity of outdoor entertainment.
Read full market research report for more latest Industry Insights, "Outdoor LED Display Market Size, Share & Trends Analysis Report By Technology (Individually Mounted, Surface Mounted), By Color Display, By Application, By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.
Outdoor LED Display Market Growth & Trends
The expansion of exhibitions and sports events, ceremonies, seminars, and other similar events are the key factors for the market for outdoor displays. Sponsors can more efficiently present information about their company's products and services and reach a larger audience at a lower cost using displays at popular events to advertise and display their offerings to potential consumers.
The increased use of advanced technology tools and devices in human lives in recent years has resulted in a strong demand for electronics worldwide. Digital displays have grown increasingly important in a digital society, with tremendous improvements in display technology during the last decade and the introduction of interactive displays that can take user commands via touch, stylus, or other peripheral devices. Interactive LED displays are widely used in various sectors for a wide range of applications and their demand is expected to increase in the near future, thanks to a growing set of applications, increased investments in R&D, increased gamification, growing digitization, rising internet penetration, and changing consumer preference for technologies. The increasing use of touchscreen tables in the hospitality industry is also likely to drive the demand for interactive LED displays.
Advancements in LED technology have enabled vendors to offer high quality displays that are bright, energy-efficient, and have a long lifespan. The proliferation of smart city solutions has increased in North America as several countries are implementing digital signage to provide real-time information to citizens. Outdoor LED displays are widely used in transportation hubs such as airports and train stations to inform passengers of flight schedules, arrivals and departures, and other important updates.
Outdoor LED Display Market Segmentation
Grand View Research has bifurcated the global outdoor LED market based on technology, color display, application, and region:
Outdoor LED Display Market - Technology Outlook (Revenue, USD Million; 2017 - 2030)
- Individually Mounted
- Surface Mounted
Outdoor LED Display Market - Color Display Outlook (Revenue, USD Million; 2017 - 2030)
- Monochrome Display
- Tri-Color Display
- Full Color Display
Outdoor LED Display Market - Application Outlook (Revenue, USD Million; 2017 - 2030)
- LED Billboards
- Perimeter LED Boards
- LED Mobile Panel
- LED Traffic Lights
- LED Video Walls
- Other LED Matrix Boards
Outdoor LED Display Market - Regional Outlook (Revenue, USD Million; 2017 - 2030)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Asia-Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- Middle East & Africa
List of Key Players of the Outdoor LED Display Market
- Barco
- Daktronics Inc.
- Electronic Displays Inc.
- LG Electronics
- Panasonic Holdings Corporation
- Sony Corporation
- Toshiba Corporation
- LEYARD
- Lighthouse Technologies Limited
- Shenzhen Dicolor
- Optoelectronics Co. Ltd
Check out more related studies published by Grand View Research:
- 3D Display Market - The global 3D display market size is expected to reach USD 413.13 billion by 2030, registering a CAGR of 19.0% from 2023 to 2030, according to a new study by Grand View Research, Inc. The gaming industry has enhanced the complete gaming experience using 3D technology, which drives market growth. Moreover, rising interest in LED and OLED technologies offering better picture quality and performance than traditional display technologies will also result in market development.
- Industrial Display Market - The global industrial display market size is expected to reach USD 8.3 billion by 2030, registering a CAGR of 6.1% over the forecast period, according to a study by Grand View Research, Inc. Industrial displays have become crucial to simplify operational activities and offer technologically advanced features as the complexity of industrial operations and processes has grown.
- Interactive Display Market - The global interactive display market size is expected to reach USD 66.6 billion by 2027, registering a CAGR of 9.3% from 2020 to 2027, according to a new study by Grand View Research, Inc. Increasing adoption of interactive video walls in the education sector is expected to drive the market over the forecast period. In addition, the market growth can be attributed to escalating demand for digital teaching space that enhances the learning experience among teachers and students.
Browse through Grand View Research's Display Technologies Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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