U.S. outdoor LED display market share accounted for more than 50% of the regional revenue in 2015 and is likely to be valued over USD 2.5 billion by 2024

Sellbyville, DE -- (SBWire) -- 03/12/2019 --Outdoor LED Display Market is expected to grow at a CAGR of over 20% during the forecast timeline. Emerging demand for wireless information connections for high resolution 10 mm symbols, billboards which are appropriate for high pedestrian traffic sectors and customizable content are anticipated to witness growth in the outdoor LED display market. Customized content can be altered and programmed based on scheduled events, expected audience, weather conditions and inventory flow to influence the target audience based on the demographic and location.

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Mobile outdoor advertisement will play a vital role in this technology growth. Advertisements on taxicabs interconnected by billboards is projected to deliver players an opportunity to reach their customers. News racks, Phone kiosk advertising benches and other customized applications will witness a high demand.

The LED displays are usually high in price which is affecting the adoption rate in the outdoor LED display market. The price per lumen and high initial capital cost will negatively impact the industry. LEDs are much more expensive than the traditional lighting technologies. They must be provided with the correct current and voltage supply., This needs some electronics skill to design the electronic drivers
Based on technology, individually mounted segment will witness a significant rise in the outdoor LED display market. Increasing demand for large display screens with high watching distance is expected to boost retailers and commercial builders to accept this technology. It produces less heat and offers longer duration when compared to conventional devices.

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Based on applications, Billboards will witness a significant rise estimated to increase at over 20% CAGR over the next seven years. Growth in the segment can be accredited to several features offered such as dynamic content, far-fetched visibility and cost-effectiveness. Traffic lights segment is estimated to increase at over 18% from 2017 to 2024.

By color display, full color outdoor LEDs will have a considerable growth owing to the increasing adoption of complete color models due to its aptitude to offer high quality animations, videos, and images will drive full-color market.

The billboards segment contributed to more than 40% of the overall market share in 2015. Favorable features such as high visibility, cost-effectiveness, and dynamic content will stimulate outdoor LED displays industry from billboards, which is anticipated to exhibit a y-o-y growth of 24.8% over 2016-2024.

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China outdoor LED display market is expected to grow at a significant rate over the forecast timeline. Rising demand for structured light scanners and high adoption across several application areas will drive the regional demand. Latin America is expected to become the most attractive region and is projected to cross USD 750 million by 2022.

Key players operating in outdoor LED displays market include Shenzhen Dicolor Optoelectronics, Leyard Optoelectronic, LG Electronics, Lighthouse Technologies, Barco NV, Sony, Toshiba, Electronic Displays Inc., Panasonic, Optoelectronics Inc., and Daktronics. It is predicted that these conglomerates will also offer solutions for every stage of the process, right from designing to manufacturing to installation, and then the advertising to after-sales services. This strategy is likely to strengthen their global presence and diversify the service offering.

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