Market Overview
The Global Outdoor LED Display Market is expected to have a value of
USD 9.0 billion in 2023, and it is further predicted to reach a market value of
USD 35.6 billion by 2032 at a
CAGR of 16.5%. The market has seen major growth in the recent past and is predicted to grow significantly during the forecasted period as well.
Outdoor LED displays include a range of electronic products, like LED billboards, video walls, mobile screens, & matrix displays, customized to varied user needs in terms of size, color technology, & resolution. These
display uses various LEDs to showcase user-programmed content that can be easily updated through appropriate software. They serve major roles in different settings like airports, retail spaces, stadiums, & urban streets, providing dynamic visual solutions for numerous applications.
Market Dynamic
The global outdoor LED display market is anticipated to grow due to the large adoption of LED products across the world. LED technology is being used in nearly every outdoor application, driving the demand for outdoor LED displays in the forecasted period.
However, the large capital investment required for the fixed installation of LED displays could pose a long-term challenge to the market. Additionally, the increasing shift toward online advertising methods may have a negative impact on industry growth.
Yet, emerging trends in the industry, like the growing usage of LED displays in commercial settings and the preference for LED display advertising over traditional paper or poster-based approaches, are anticipated to offer significant opportunities for market players.
Research Scope and Analysis
By Technology
The global outdoor LED market is segmented into surface-mounted & individually-mounted displays in terms of technology. As of 2023, the surface-mounted display category takes the lead & is expected to maintain strong growth over the forecasted period. Surface-mounted displays are electronic billboards or signs composed of a grid of LEDs directly coupled to a flat surface, typically a plastic frame or metal. This grid-like arrangement allows the display to showcase real-time text, images, & videos. Unlike individually mounted displays, the LED modules in surface-mounted displays can't be changed individually, necessitating the replacement of the complete module if a single LED malfunctions. However, they are favored over individually mounted displays due to their lightweight construction and easier installation.
In addition, the individually mounted segment is anticipated to experience rapid growth during the forecasted period, as individually mounted displays incorporate LED matrices mounted on separate circuit boards or modules, arranged in a grid to build large displays. They are mainly utilized for outdoor advertising, disseminating public information, & providing entertainment, and effectively displaying real-time text, images, & videos. The demand for sizable displays with extended viewing distances is anticipated to drive commercial builders & retailers toward adopting this technology.
By Color Display
Based on color display options, the market is categorized into monochrome, tri-color, & full-color displays. Among all these, the full-color display segment leads in 2023 & is anticipated to continue its growth trend over the forecasted period. A full-color display contains an array of LEDs efficient at emitting a wide range of colors. These displays excel at creating realistic, high-quality images, making them apt for applications where visibility is critical, even in indirect sunlight. However, it's worth noting that full-color displays can be pricier & more challenging to maintain compared to tri-color or monochrome options.
Meanwhile, the tri-color segment is expected to experience significant growth during the forecasted period. They are commonly employed for public education, outdoor advertising, & entertainment. They are adept at creating vibrant, attention-grabbing images, making them a favored choice for scenarios demanding high visibility, even in direct sunlight. Yet, when in comparison to monochrome displays, tri-color displays may come with a higher cost & maintenance complexity. Tri-color LEDs are often used in indicator lights that convey three different statuses or conditions.
By Application
Regarding the applications of outdoor LED displays, the market is categorized into different segments, like LED billboards, LED traffic lights, LED video walls, perimeter LED boards, LED mobile panels, & other LED boards. In 2023, the LED billboards segment leads the market segment & is further expected to show significant growth in the forecast period. LED billboards are broadly utilized for public education, outdoor advertising, & entertainment purposes, visible in urban areas, on highways, & at sporting events, also they offer advantages like dynamic, animated content display, quick & easy content changes, constant operation, energy efficiency, & extended lifespan, making them an eco-friendly alternative to traditional billboards.
Moreover, the LED video walls are also anticipated to quickly grow in the forecasted period. These are large displays constructed by integrating many individual LED panels to form a single massive screen, commonly utilized for digital signage, advertising, & broadcasting in public spaces like stadiums, malls, & concert venues. LED video walls come in different configurations, enabling for creative & seamless high-resolution displays with replaceable panels or closely spaced LEDs for unique visual experiences.
The Outdoor LED Display Market Report is segmented on the basis of the following:
By Technology
- Surface Mounted
- Individually Mounted
By Color Display
- Full-Color Display
- Tri-Color Display
- Monochrome Display
By Application
- LED Billboards
- LED Video Walls
- LED Mobile Panel
- Perimeter LED Boards
- LED Traffic Lights
- Others
Regional Analysis
Asia Pacific leads the global market in 2023 by having a substantial 40.5% market share, which is primarily attributed to the growth in need for outdoor LED displays in the region, driven by the presence of several world's largest & fastest-growing economies, like India, China & Japan. The retail & tourism sectors are experiencing a growth in the need for digital signage solutions, particularly with the increase in popularity of outdoor entertainment. Further, several businesses in Asia Pacific are making huge investments in outdoor LED screens to deliver real-time information, covering aspects such as emergency notifications, traffic updates, weather forecasts, & more.
Moreover, North America is anticipated for rapid growth in the coming future, driven by factors like the expanding adoption of
digital signage, technological advancements, & large investments in media & advertising. As businesses use outdoor LED displays to engage target audiences, enhanced LED technology provides brighter, energy-efficient, & longer-lasting displays. Smart city initiatives have gained momentum in North America, with digital signage being utilized to provide live information to citizens, mainly in transportation hubs like airports & train stations, for flight schedules & essential updates.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
The outdoor LED display market consists of numerous competitors, & experiences fragmentation, as big players are investing heavily in R&D to incorporate advanced technologies into LED displays used for billboards, video walls, and more. This intense competition has led these companies to look for partnerships & collaborations to outperform their competitors & grab a significant share of the market.
Like, in February 2023, Daktronics Inc. announced its partnership with Drexel University in order to work together in setting up & producing an indoor audio system along with 22 fresh LED displays at the Daskalakis Athletic Center on the Philadelphia, Pennsylvania campus, which included a distinctive five-display center-hung arrangement, which was completed in preparation for the 2022 winter sports season.
Some of the prominent players in the Global Outdoor LED Display Market are:
- Barco
- Toshiba Corp
- LG Electronics
- Sony Corp
- Optoelectronics
- Electronic Display Inc
- LEYARD
- Daktronics Inc
- Panasonic Corp
- EKTA Ltd
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global Outdoor LED Display Market:
The COVID-19 pandemic & the subsequent economic recession had a high impact on the global outdoor LED display market. With lockdowns & social distancing measures in place, the need for outdoor advertising & large gatherings diminished, causing a decline in the market. Further, various businesses scaled back on advertising budgets, affecting the deployment of outdoor LED displays. However, as the world adapted to the new normal & outdoor spaces gained importance for communication & entertainment, the market witnessed signs of recovery as businesses & event organizers began investing in these displays to engage with their audiences in a socially distanced manner.
Report Details
| Report Characteristics |
| Market Size (2023) |
USD 9.0 Bn |
| Forecast Value (2032) |
USD 35.6 Bn |
| CAGR (2023-2032) |
16.5% |
| Historical Data |
2017 - 2022 |
| Forecast Data |
2023 - 2032 |
| Base Year |
2022 |
| Estimate Year |
2023 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Technology (Surface Mounted and Individually
Mounted), Color Display (Full-Color Display, Tri-Color
Display, and Monochrome Display), By Application
(LED Billboards, LED Video Walls, LED Mobile Panel,
Perimeter LED Boards, LED Traffic Lights, and Others) |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
Barco, Toshiba Corp, LG Electronics, Sony Corp,
Optoelectronics, Electronic Display Inc, LEYARD,
Daktronics Inc, Panasonic Corp, EKTA Ltd and Other
Key Players |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
The Global Outdoor LED Display Market is estimated to reach USD 9.0 billion in 2023, which is further
expected to reach USD 35.6 billion by 2032.
Asia Pacific dominates the Global Outdoor LED Display Market with a share of 40.5% in 2023.
Some of the major key players in the Global Outdoor LED Display Market are Sony, Barco, Toshiba, and
many others.
The market is growing at a CAGR of 16.5 percent over the forecasted period.