Outdoor LED Display Market worth USD 11,863.5 million by 2027

The Market Statsville Group (MSG) publishes the new report on the "Outdoor LED Display Market by Type (Surface Mounted and Individually Mounted), by Application (Billboards, Mobile LED Displays, Perimeter Boards, Traffic Lights, Video Walls, and Others), by Region – Global Share and Forecast to 2027". The global outdoor LED display market size is expected to grow from USD 7,426.9 million in 2020 to 11,863.5 million by 2027, at a CAGR of 9.2% during the forecast period. The rise in sports events & exhibitions, seminars, ceremonies, and other such events drives the market's growth of outdoor LED displays. As the sponsors promote & display consumer information to provide their company’s product information more vibrantly and reach out to a larger crowd at a lower cost in the market. In addition, outdoor LED displays offer a viable source of displaying dynamic data, which is easier to manage than hard data, and flexibility to implement prompt changes in the displays during the events. These factors are anticipated to increase the demand for outdoor LED displays. The outdoor LED displays provide several inbuilt features such as exceptional readability, light in a much narrower spectrum than the other illumination sources, energy efficiency, minimum operational price, and long life.

Global Outdoor LED Display Market Segmentation

The overall outdoor LED display market has been segmented into type, application, and region.

• By Type (Surface Mounted and Individually Mounted)
• By Application (Billboards, Mobile LED Displays, Perimeter Boards, Traffic Lights, Video Walls, and Others)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

Billboards, by application, is estimated to hold the largest market share during the forecast period

Based on application, the global outdoor LED display market is categorized into billboards, mobile-led displays, perimeter boards, traffic lights, video walls, and others. The billboards segment generated the highest revenue of 34.6% of the global outdoor LED display market in 2020, and it is expected to register a significant CAGR from 2021 to 2027. Billboards are large electronic outdoor displays set up in heavy traffic areas such as busy roads, rooftops of shopping malls, residential buildings, and others. With the help of billboards, digital advertisements are showcased to the passing pedestrians & vehicle drivers in the form of dynamic displays and attractive visuals. The advertisements can be programmed on billboards in various eye-catching designs, with bright & highly efficient full-color imagery displays in the market.

With numerous designs for advertising on billboards, commercial advertising on billboards is becoming one of the major trends in the market. Unlike their print counterparts that can display only one advertisement simultaneously, billboards can provide several advertisements simultaneously, thus driving the market growth. Furthermore, companies promoting & discovering their product launch on a billboard, due to its being highly cost-effective and displaying information 24/7, are some factors that fuel the market growth. Conversely, the increase in construction of skyscrapers and tall buildings in densely populated areas provides immense opportunities for setting up billboards, as a larger crowd can view them simultaneously.

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Asia Pacific accounts for the largest market share in the outdoor LED display market 2020

Based on the regions, the global outdoor LED display market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2020, Asia Pacific accounted for the highest market share of 35.8% in the global outdoor LED display market and was anticipated to maintain its dominance throughout the forecast period. In Asia-Pacific, billboard displays account for the largest share in the outdoor LED displays market, owing to increased population, resulting in a large crowd for billboards placed on the side of roads, buildings, and other areas. In addition, numerous companies in this region invest heavily in billboard advertising, thus driving market growth. Conversely, mobile LED displays have also gained a strong market foothold, as they provide viable opportunities for door-to-door advertisements in this massive populated region. Furthermore, the demand for outdoor LED displays in sports sponsorships and mega-events is expected to increase, owing to the rise of Asia-Pacific as a sports giant. This is expected to create lucrative opportunities for the rapid development of the outdoor LED display market in the region.

This research report includes a study on the development and marketing strategies, along with the product portfolios and winning strategies of the leading companies operating in the outdoor LED display market. It also consists of leading companies such as Galaxia Electronics, Barco, Daktronics, Inc., Leyard, Electronic Displays Inc., LG Electronics, Lighthouse Technologies Limited., Panasonic Corporation, Shenzhen Dicolor Optoelectronics Co., Ltd., and Toshiba Corporation. These market players have focused on acquisitions and expansion to gain a larger market share in the outdoor LED display market.

Browse complete report: https://www.marketstatsville.com/outdoor-led-display-market

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