A Better Approach To Outdoor LED Display and Impact of COVID-19……..
The global outdoor LED
display market is expected to
reach USD 12.43 billion by 2022,
according to a new report by Grand View Research, Inc. Growing demand for
wireless data connections for billboards which are ideal for high-volume
pedestrian traffic zones, and customizable content availability are expected to
revolutionize the digital display industry over the next seven years.
The ongoing COVID-19 outbreak has adversely
affected the display industry with manufacturing operations temporarily
suspended across major manufacturing hubs, leading to a substantial slowdown in
the production. Major manufacturers including Samsung, LG Display, and Xiaomi
among others have suspended their manufacturing operations in China, India,
South Korea, and European countries. In addition to having an impact on the
production, the ongoing pandemic has taken a toll on the consumer demand for
display integrated devices, likely exacerbated by the lockdown imposed across
major countries. Uncertainty regarding the possible length of lockdown makes it
difficult to anticipate how and when a resurgence in the display industry will
occur. On the flip side, increased demand for displays in medical equipment
including ventilators and respirators is expected to keep the demand for
displays afloat in the coming months. The report will account for Covid19 as a
key market contributor.
Rising trend towards interactive media
with 3D format support is also expected to positively impact growth over the
forecast period. Interactive visualization technology presents data using
interactive images. Interactive screens are expected to be deployed at various
public places such as train stations and bus stops over the forecast period.
Electronic signage has completely
energized static displays and its counterparts. Technology used in sign
programming has become customizable with different demographics such as weather
conditons, inventory data and calendar events, which are being marketed over
these displays. Hence, the development of high resolution signboards is
expected to drive demand over the forecast period.
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Further key findings from the report suggest:
·
LED mobile panel market is
expected to witness robust demand by 2022. These can be easily setup or
teardowned along with a ready to use control room; it also minimizes cabling
and display With the rising number of events such as live concerts, exhibitions,
brand promotion activities, and sports events on the rise, the LED mobile
panels segment is expected to show high growth over the forecast period.
·
Billboards segment accounted
for over 40% of the revenue in 2014 and is anticipated to exhibit high growth over
the next seven years. Growing demand for electronic billboards with decline in
prices is expected to drive demand. Billboards are mainly used for weather
updates, scores and streaming live news, however, there are possibilities for
LED billboards to go beyond advertising over the next few years.
·
Asia Pacific dominated the
outdoor LED display market in 2014, and is expected to grow at a CAGR of over
25% from 2015 to 2022. The industry is majorly driven by the presence of
several key distributors and manufacturers in China, Japan, and Korea.
Increasing demand for cost effective tri-color and monochrome solutions on
streets, pedestrian walks and public places is expected to boost sales in the
region.
·
Outdoor LED display market
share is occupied by companies such as Daktronics, Shenzhen Dicolor
Optoelectronics Co Ltd, Electronic Displays, Sony, LG Electronics, and Barco
NV. Companies such as Toshiba Corporation, LG Electronics, Panasonic, and Sony
Corporation partake in strong networking and enjoy high degree of brand recall.
The
outdoor LED display market was estimated at over USD 1.6 billion in 2014.
Increasing demand for better resolution and affordable solutions is expected to
drive the industry over the forecast period. The industry is characterized by rising
trend towards interactive media. The technology enables end-users to carry out
uninterrupted advertising, thereby, growing deployment in real estate offices,
car showrooms, retail outlets, and shopping malls.
Key
features such as environmental friendliness, durability, impact resistance, and
energy efficiency are expected to fuel outdoor LED display industry growth.
Further, growing number of sports activities combined with increasing
promotional activities of corporate brands have encouraged promoters to
advertise their applications, which is projected to boost growth over the next
seven years.
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Grand View Research has segmented the
outdoor LED display market on the basis of application, technology, color display:
Outdoor LED display Application Outlook (Revenue, USD
Million, 2012 – 2022)
·
LED Billboards
·
Perimeter LED Boards
·
LED Mobile Panel
·
LED Traffic Lights
·
LED Video Walls
·
Other LED Matrix Boards
Outdoor LED display Technology Outlook (Revenue, USD
Million, 2012 – 2022)
·
Individual Mounted
·
Surface Mounted
Outdoor LED display Color Display Outlook (Revenue, USD
Million, 2012 – 2022)
·
Monochrome Displays
·
Tri-Color Displays
·
Full Color Displays
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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