The outdoor LED display market is estimated to be valued at US$ 18.98 Bn in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Outdoor LED displays are light-emitting diodes displays used for advertising and various visual displays in outdoor locations. They are widely used for sports stadiums, shopping malls, airports, city streets, and highways. These displays deliver vivid colors and clear images even in bright outdoor lighting conditions. They offer features like wide viewing angles, high reliability, long lifespan, rugged design, wide operation temperature range, and low power consumption.
The growth of the outdoor LED display market is attributed to rapid advancements in display technology and increasing demand for commercial advertisements. LED display panels are increasingly becoming popular compared to traditional billboards and signboards due to their vivid picture quality, high resolutions, wide viewing angles, eco-friendly nature, and 24/7 operability. Additionally, easy installation and maintenance along with ability to stream live content and videos are further fueling the adoption of outdoor LED displays. However, high initial investment remains a hindering factor. The emergence of indoor-outdoor LED Displays that provide seamless communication across building interiors and exteriors is expected to present lucrative opportunities over the forecast period.
Strength: Outdoor LED display offer high brightness and visibility which makes them a suitable solution for outdoor applications. They have low maintenance cost and can withstand all weather conditions. Their energy efficient features also reduce overall cost of ownership.
Weakness: Initial investment cost of outdoor LED displays is much higher compared to conventional signage solutions. Rapid changes in technologies can make existing displays obsolete quickly.
Opportunity: Growing live sports and entertainment sector is boosting opportunities in stadium and venue applications. Increasing urbanization and real estate development provides scope to utilize outdoor LED displays for branding and advertisements.
Threats: Presence of inexpensive conventional outdoor signage can divert spending. Intense competition among players may lead to pricing pressures.
The global outdoor LED display market is expected to witness high growth, exhibiting CAGR of 15% over the forecast period, due to increasing demand for digital signage in sports venues and public infrastructure. Outdoor LED displays are increasingly being used at airports, shopping malls, railway stations for wayfinding solutions.
Regional analysis Related content: The North America region currently dominates the outdoor LED display market owing to large presence of sports and entertainment venues in countries like U.S. and Canada. However, Asia Pacific region is projected to exhibit fastest growth led by increasing investments in smart city projects and large scale infrastructure development in China and India. Countries in this region provide huge opportunities for outdoor advertising companies.
Key players related content: Key players operating in the outdoor LED display market are LG Electronics Inc., Barco N.V., Galaxia Electronics, Daktronics Inc., Toshiba Corporation, Data Display Co. Ltd., Sony Corporation, EKTA Ltd., Electronic Displays Inc., Panasonic Corporation, Leyard Opto-Electronic Company Ltd., Lighthouse Technologies Ltd., Shenzhen Dicolor Optoelectronics