According to a new market report published by Transparency Market Research "Outdoor LED Displays (Applications - LED Billboards, Perimeter LED Boards, LED Mobile Panels, LED Traffic Lights, LED Video Walls and Other LED Matrix Boards) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020," the market was valued at USD 4.80 billion in 2013 and is expected to reach USD 12.54 billion by 2020, growing at a CAGR of 14.7% from 2014 to 2020. Europe was the largest contributor to the global outdoor LED displays market in 2013. The Asia-Pacific region is expected to be the fastest growing market for outdoor LED displays during the forecast period, with a CAGR of 16.4% from 2014 to 2020. The rapidly increasing adoption of outdoor LED displays in the advertisement industry across the globe is the major factor driving market growth.
LED displays are energy efficient, environment friendly and durable, and thus require less operational cost. As a result, several corporate brands are encouraged to display their offerings on outdoor LED screens. The rising number of sports activities, live concerts and corporate exhibitions across the globe is also fuelling the growth of this market. Although the initial price of these displays is high, the impact is expected to reduce over the forecast period with advancement in technology and rising demand for such displays.
Rise in the number of promotional activities by several corporate brands is fuelling the adoption of advertising boards such as LED billboards and perimeter LED. Further, the growing number of sports events such as world cups, Olympics, Commonwealth Games and regional tournaments among others are also supporting market growth for displays such as perimeter LED boards, LED video walls and LED mobile panels. Additionally, increasing adoption of LED mobile panels for broadcasting live events such as corporate exhibitions, concerts and other shows is expected to boost the market for LED mobile panels over the forecast period. The global LED mobile panels market is expected to grow at a CAGR of 16.9% from 2014 to 2020.
On the basis of technology, the outdoor LED displays market is segmented into two major categories, namely, individually mounted and surface mounted outdoor LED displays. In 2013, individually mounted outdoor LED displays segment dominated the market in terms of revenue. However, over the forecast period it is expected that use of surface mounted LED displays for outdoor purpose will increase. As a result, the revenue share of both the technologies is expected to be nearly the same by 2020.
The color displays segment consists of three types of displays, namely, monochrome, tri-color and full color LED displays. For outdoor purposes, full color outdoor LEDs are preferred over the other two types due to the fact that full color LED displays are capable of displaying high quality images, animations and videos. As a result, the demand for full color LED displays is high as compared to monochrome and tri-color LED displays.
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