Outdoor LED Display Market Has a Clear Growth Runway to 2023

Outdoor LED displays have been gaining popularity, owing to significant technological advancements such as automated LED displays, wireless control systems, better picture quality, and high brightness levels. However, factors such as high initial investments and unstable demand are some of the major factors hampering the market growth.

Outdoor LED Display

According to a new report published by Allied Market Research, Outdoor LED Display Market accounted for $4 billion in 2016 and is projected to reach $14 billion by 2023, growing at a CAGR of 21.7% from 2017 to 2023.

In 2016, the individually mounted segment was the highest contributor to the market growth and is expected to grow at a CAGR of more than 20% during the forecast period. In addition, in 2016 the billboards segment accounted for the majority of revenue share among outdoor LED display applications.

Outdoor LED displays consists of the LED of different color wavelengths, and are programmed to display multimedia graphics, such as company advertisements, promotions, scoreboards, and traffic signs. These are mounted on buildings, highways, stadiums, and live stages for entertainment shows.

KEY FINDINGS OF THE STUDY

In 2016, the individually mounted outdoor LED display segment generated the highest revenue, accounting for over 55% of the global outdoor LED display market.
In 2016, the billboard application generated the highest revenue, accounting for over one-third of the market.

The key companies profiled in the report include Barco N.V., Daktronics Inc., LG Electronics, Inc., Panasonic Corporation, Toshiba Corporation, Lighthouse Technologies Ltd., Shenzhen Dicolor Optoelectronics Co., Ltd., Leyard, and EKTA, Electronic Displays, Inc.

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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

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