LED Stadium Screens Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022
Albany, NY -- (SBWIRE) -- 10/23/2018 -- The global market for LED stadium screens stood at US$1.16 bn in 2014 and is projected to reachUS$1.93 bn by the end of 2022. The market is predicted to rise at a CAGR of 6.6% from 2015 to 2022. The substantial volumes of investment in product innovations is expected to create lucrative growth avenues for market players.
Regionally, Europe leads the global market. The opportunities in this regional market is anticipated to surge to US$625.8 mn by the end of the forecast period. Based on color display, the major segments are monochrome, tri-color, and full-color. Of these, full-color LED displays for stadium screens held the major share and is anticipated to continue its dominance, mainly attributed to their substantial rate of adoption across stadiums and arenas.
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The growing number of live events and concerts coupled with the increasing need for interactive content displays is a key factor propelling the demand for LED stadium screens. World over, the rising number of stadiums that require integrated LED video systems for their guests and spectators and the need for multi-functional scoreboard displays are the primary factors driving the market. The market is witnessing the prominence of LED display systems equipped with advanced digital technologies that enable stadium operators to display graphics and animations, social media announcements, and a variety of sponsorship messages in and outside of the sports arenas.
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The intensifying demand for high-resolution imagery among spectators in various sports arenas and live events is a crucial factor catalyzing the adoption of LED stadium screens. Recent advances in digital technologies have led to products that can offer an extensive horizontal viewing angle to spectators, which is expected to bolster the uptake. Furthermore, the advent of high refresh rate of frequency of images in LED screens is expected to bode well for the market. Several governments, especially in developed nations, are proactive in phasing out conventional lighting system with LED lights. This has brought down the prices of LED lighting technology, thereby boosting their uptake in these markets.
The escalating cost of installation of LED stadium screens in emerging economies and the additional cost of their packaging is a key factor likely to hinder the market to some extent. Furthermore, the high cost incurred in the thermal management of these massive LED systems is anticipated to dissuade numerous stadium operators and arena managers from buying these technologies.
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Nevertheless, the mounting demand for improving in-stadium experience and the increasing need for surface-mounted LED screens for spectators are crucial factors expected to boost the market through the forecast period. There is an accelerating demand for LED screens showing a variety of advertisements in stadium screens by sponsors in order to reap recurrent revenue streams. This is expected to accentuate the stadium screens market in the coming years.