Outdoor LED Display Market to grow at 20% CAGR from 2016 to 2024: Fractovia.org
An outlook on outdoor LED display market growth is presented in this latest research report that reviews industry growth drivers, trends, regional factors & companies as well as provides forecasts for next few years. On account of companies aiming to use attractive, eye-catchy, bright advertising displays & billboards, outdoor LED display market is set to generate highly lucrative business in the next few years. With an aim to attract the audience and stay on top of the competition, companies are increasingly turning toward LED powered advertising boards, perimeter boards, and scoreboards for marketing themselves and their products and services. The exponentially rising demand for wireless connections for high resolution signs and billboards will also help impel outdoor LED display market, which was worth more than USD 2.5 billion in 2015. Recognizing the potential of LED displays and the impact they have on the audience, companies operating in global outdoor LED display industry are striving to develop innovative products that depict the features of longer shelf life and improved capacity. Key companies include Electronic Displays, Panasonic, Barco NV, LG Electronics, Shenzhen Dicolor, Leyard Optoelectronic, Toshiba, Sony, Optoelectronics, Panasonic, Daktronics, and Lighthouse Technologies. Apart from novel product development, outdoor LED display market players are focusing on investing heavily in research & development activities and diversifying their product portfolio. Additionally, to cut down on the operational costs, companies have begun to rely on automation to update outdoor displays instead of technical personnel making tedious on-site visits.
Outdoor LEDs come in a variety of color displays, namely tri-color, full color, and monochrome models. Undoubtedly, the full color model encompasses the best features and has the ability to depict colorful animations, images, and videos, subject to which full color outdoor LED display market will grow at a significant pace over 20162024. Even the tri-color display model is gaining remarkable prominence, pertaining to its rising adoption in scoreboards, digital signage, and perimeter boards. On account of the rapid development of digital signage market, tri-color outdoor LED display industry is expected to register a CAGR of 22.3% over 2016-2024. LED screens incorporating interactive visualization technology are forecast to be deployed increasingly across bus stops and train stations, owing to growing trend of utilizing high tech 3D powered interactive imaging. This trend is predicted to contribute heavily toward outdoor LED display market growth.
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