According to a new market report published by Credence Research Inc., “Outdoor LED Display Market (By Technology (Individually Mounted and Surface Mounted), By Application (LED Billboards, Perimeter LED Boards, LED Video Walls, LED Mobile Panel, LED Traffic Light, and Other Applications), By Color Display (Monochrome Display, Full color Display, and Tri-color Display)) – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023”, the outdoor LED display market is expected to witness a double digit CAGR during the forecast period 2016 to 2023.
An outdoor LED screen is a flat panel display that uses a set of light emitting diodes as pixels for a video display. Comparatively high brightness of LED displays makes them suitable for outdoor use in billboards, perimeter boards and video walls, among others, for advertising purposes. LED displays have also become popular destination signs for public transport cars in recent years.
Outdoor LED displays are increasingly becoming common across both private and public settings, taking into account the benefits offered in terms of durability, energy efficiency and operating costs, among others. In addition to the application, the global market for outdoor LED displays is also divided by technology and product size.
Full color outdoor LED screens led the overall market in 2015 due to its ability to offer high-quality videos and animations. In terms of technology, individually mounted outdoor LED displays accounted for most of the market revenue share in 2015 and would remain dominant throughout the forecast period.
The international outdoor LED screen market is highly competitive and technologically oriented. The top four players on the market collectively account for less than 45 percent of global outdoor LED product sales.
Some of the leading players identified in the global outdoor LED display market include LG Electronics, Inc., Panasonic Corporation, Sony Corporation, Barco NV, Data Display Co., Ltd., Daktronics, Inc., Toshiba Corporation, Lighthouse Technologies, Ltd., Shenzhen Dicolor Optoelectronics Co. Ltd., Leyard Opto-Electronic Company Ltd., Buchi Labortechnik AG, and EKTA Ltd. among others.
The international outdoor LED show industry also includes a large number of niche players, each with a negligible market share. Market players are focused on offering complete turn-key solutions and qualitypre-and post-sales services. The global outdoor LED display market is driven by innovation, and competition between market players is expected to remain strong throughout the 2016-2023 forecast period.