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Jul 17, 2023

Outdoor LED Display Market Revenue, Price, Growth Rate, Forecast To 2030

Report Ocean recently released a comprehensive report on the Outdoor LED Display

Report Ocean recently released a comprehensive report on the Outdoor LED Display Market, providing extensive insights into its demand, growth prospects, opportunities, challenges, and restraints. The report offers an in-depth analysis of the industry's structure and potential at both global and regional levels. It covers essential information on research and development activities, new product launches, and product responses from leading global and local companies. The report presents the data in a structured manner, incorporating graphical presentations and diagrammatic examinations of the global market across different regions.

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The global outdoor LED display market size was US$ 7,926.9 million in 2021. The global outdoor LED display market is forecast to grow to US$ 15,863.5 million by 2030 by registering a compound annual growth rate (CAGR) of 8.1% during the forecast period from 2022 to 2030.

Large billboards that show live commercials, photographs, promotional videos, and other material are known as outdoor LED displays. They are used in avenues, malls, parks, and parking lots. These displays are embedded with a light-emitting diode (LED), a semiconductor chip, etc.

Factors Influencing the Market

Outdoor LED displays offer high brightness and are suitable for all weather conditions. This factor will primarily drive the growth of the outdoor LED display market. In addition, the growing range of advertisements to promote products and services will also upsurge the demand for outdoor LEDs during the study period.

LED display advertising is gaining significant traction due to its benefits over paper or poster-based advertising. In addition to that, a growing number of sports events, entertainment shows, exhibitions, seminars, ceremonies, etc., will all fuel the growth of the market. On the contrary, the high initial investment associated with outdoor LED displays may limit the growth of the market.

Alternative display designs that are both energy efficient and cost effective are needed in the advertising industry. Thus, it can be opportunistic for the outdoor LED display market.

COVID-19 Impact Analysis

The COVID-19 outbreak negatively impacted the outdoor LED display market owing to the decline in the workforce. Furthermore, various enterprises across the globe recorded substantial losses, which limited the demand for outdoor advertising. Due to stringent lockdown restrictions, outdoor traffic was reduced drastically. People were forced to stay at home in order to stay safe. As a result, it drastically reduced the demand for outdoor advertising.

The global outdoor LED display industry has been damaged by the COVID-19 epidemic. New construction projects have been delayed all around the world, impacting the demand in a variety of businesses. All of these factors impeded the growth of the global market during the COVID-19 pandemic.

Regional Analysis

During the forecast period, the Asia-Pacific outdoor LED display market is forecast to hold dominance. The outdoor LED display market is forecast to have lucrative growth prospects across China, Japan, India, Southeast Asia, and the rest of Asia-Pacific. China, Japan, Taiwan, and South Korea are among the world's top producers and consumers of outdoor LED displays and semiconductors, which will significantly contribute to the industry's growth.

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After Asia-Pacific, Europe is expected to emerge as the fastest-growing area in the market for outdoor LED displays, owing to the growing adoption of smart LED displays. Moreover, the related control systems become more widely used in sports event displays, traffic management systems, and commercial advertisements, which will benefit the overall regional market.

Competitors in the Market

Market Segmentation

The global outdoor LED display market segmentation focuses on Type, Application, and Region.

By Type Outlook

By Application Outlook

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By Regional Outlook

The report utilizes several strategic analysis tools, including PESTLE (Political, Economic, Social, Technological, Legal, and Environmental) analysis and SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis.

PESTLE Analysis:

Political factors: Examining trade policies, budgetary and tax policies, political stability, and government regulations that may impact the market.

Economic factors: Analyzing interest rates, employment/unemployment rates, raw material costs, and foreign exchange rates that influence the market.

Social factors: Assessing shifts in attitudes, habits, family demographics, and educational and cultural trends that shape consumer behavior.

Technological factors: Evaluating research and development, automation, and advancements in digital or mobile technologies affecting the market.

Legal factors: Considering labor laws, consumer protection laws, health and safety regulations, and international trade restrictions impacting market operations.

Environmental factors: Understanding climate concerns, recycling practices, carbon footprint management, waste management, and sustainability efforts affecting the market.

SWOT Analysis:

Strengths: Identifying internal factors that give the company a competitive advantage and distinguishing capabilities in the market.

Weaknesses: Assessing internal limitations and areas where the company lags behind competitors or faces challenges.

Opportunities: Examining external factors or market conditions that present potential growth prospects or favorable circumstances for the company.

Threats: Identifying external factors or challenges in the market that may pose risks or obstacles to the company's success.

The PESTLE and SWOT analyses help provide a comprehensive understanding of the market landscape, enabling businesses to make informed decisions and develop effective strategies.

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About Report Ocean:

Report Ocean is a renowned provider of market research reports, offering high-quality insights to clients in various industries. Their goal is to assist clients in achieving their top line and bottom line objectives, thereby enhancing their market share in today's competitive environment. As a trusted source for innovative market research reports, Report Ocean serves as a comprehensive solution for individuals, organizations, and industries seeking valuable market intelligence.

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