Outdoor LED Display Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, Application : Global Opportunity Analysis and Industry Forecast, 2021–2030

Outdoor LED Display Market Outlook – 2030

The global outdoor LED display market size was valued at $6,398.30 million in 2020 and is projected to reach $14,522.40 million by 2030, registering a CAGR of 9.10%. The outdoor LED signs and displays use LEDs in display screens installed in the exterior environment in other terms it is an LED display screen for advertising outdoors. 

Technically outdoor LED screen manufacturing involves the fabrication of LEDs of different color wavelengths on printed circuit boards (PCBs). The packaging type may be either dual-inline-packaging (DIP) or surface mounting device (SMD). These screens are robust & resistant to damage caused by sunlight, pollution, and moisture. High adoption by sponsors in entertainment shows, sports events, and exhibitions owing to an increase in preference for LED display advertising over paper or poster-based advertising boosts the outdoor LED display market growth. However, high initial investments and unstable demand are some of the factors that hamper market growth. 

Segment Overview

The global outdoor LED display market is segmented based on type, application, and region. Based on type, the individually mounted segment dominated the Outdoor LED Display Industry in 2020 and is projected to maintain its dominance during the forecast period. The individually mounted LED display provides several features such as better ultraviolet (UV) protection function, waterproofing, higher brightness, better moisture protection, and quality performance of LEDs. This, as a result, becomes a major growth factor and is expected to grow at a significant CAGR during the outdoor LED display market forecast period. 

By application, the billboards segment dominated the outdoor LED market in 2020 and is projected to maintain its dominance during the forecast period, as it provides cost-effective designs & advanced features for advertisement on outdoor LED displays in the market. 

Furthermore, the mobile LED displays segment is expected to grow at a significant CAGR during the forecast period. These displays provide a viable option for inexpensive, efficient, and door-to-door advertisement services, thus catering to the increase in demand for portable advertising medium in the market. 

By region, the outdoor LED display market was dominated by Asia-Pacific in 2020 and is expected to maintain this trend during the forecast period. The major factors driving the growth of the market in this region are large investments in the production & consumption of outdoor LED displays and semiconductors and increased preferences for digital advertisements in emerging economies. 

Top Impacting Factors

The global outdoor LED display market is influenced by various top-impacting factors including rapid growth in digital advertisements, high digital sponsorships & information displays, and power efficiency features are some of the factors fueling the market growth. However, the high initial and installation costs of outdoor LED displays are projected to hamper the growth of the market. On the contrary, the rise in sports events and alternate LED advertisement designs are expected to provide lucrative opportunities for the outdoor LED display market during the forecast period.

Competitive Analysis

The key players profiled in the report include Barco, Daktronics, Inc., Electronic Displays Inc., Galaxia Electronics, Leyard, LG Electronics, Lighthouse Technologies Limited, Panasonic Corporation, Sony Corporation, and Toshiba Tec Corporation. Market players have adopted various strategies such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the outdoor LED display industry.

COVID-19 Impact Analysis

The COVID-19 pandemic has adversely impacted the outdoor LED display market as the huge workforce of enterprises across the globe are working from home. This has LED to a decline in advertising expenditure, which, in turn, reduced the demand for outdoor LED displays. Although the COVID-19 pandemic has forced field work of several major projects to pause temporarily, the market is expected to remain robust with a cumulative number of shipments being marginally unaffected in the next three-year period from 2020. 

The global outdoor LED display market has been impacted by the COVID-19 outbreak. New projects throughout the world have been stalled, which, in turn, have affected demand in several industries including manufacturing, industrial, and retail. Although market players faced minimal impact on procuring raw materials, time and shipping costs were still a major concern. 

Moreover, the rise in investments in the development of smart cities has gained importance during the pandemic, subsequently, the demand for outdoor LED displays is anticipated to gain momentum post-pandemic.

Key Benefits for Stakeholders

• This study comprises an analytical depiction of the global outdoor LED display market size along with the current outdoor LED display market Trends and future estimations to depict the imminent investment pockets.
• The overall outdoor LED display market analysis is determined to understand the profitable trends to gain a stronger foothold.
• The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
• The current outdoor LED display market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
• Porter’s five forces analysis illustrates the potency of the buyers and the outdoor LED display market share of key vendors.
• The report includes the market trends and the outdoor LED display market opportunity of key vendors.