LED Display Market Growth Predicted to Reach $23.3 Billion, Increasing Size at a CAGR of 7.5% from 2023 to 2030 | Global Opportunities and Threats, Emerging Technologies and Innovations, Trends and Forecasts, A SWOT Analysis Report

NEW YORK, May 12, 2023 /PRNewswire/ -- As per Zion Market Research study, The global LED display market size was valued at $15.3 Billion in 2022 and is slated to hit $23.3 Billion by the end of 2030 with a CAGR of nearly 7.5% between 2023 and 2030.

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LED Display Market: Overview

LED refers to a light-emitting diode and the LED displays comprise of flat panel display that makes use of an array of light-emitting diodes for displaying videos. Furthermore, the LED display offers high brightness and hence finds a slew of applications in outdoor displays such as digital nameplates in store signs, transport vehicles, and billboards. These products have the ability to provide illumination as well as a visual display. Furthermore, it is utilized for various decorative purposes including stage lighting. 

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Key Industry Insights & Findings of the LED Display Market Reports:

• As per the analysis shared by our research analyst, the global LED display market is projected to expand annually at the annual growth rate of around 7.5% over the forecast timespan (2023-2030)
• n terms of revenue, the global LED display market size was evaluated at nearly $15.3 billion in 2022 and is expected to reach $23.3 billion by 2030.
• The global market is anticipated to record massive growth over the forecast period owing to rising government support for use of LED displays with a view to save energy.
• Based on type, the outdoor LED segment is predicted to dominate the segmental space during the forecast timeline.
• In terms of application, the traffic & security segment to dominate the segmental growth over 2023-2030.
• Region-wise, the European LED display market is projected to record the highest growth during the assessment period.

Zion Market Research published the latest report titled "LED Display Market By Type (Indoor LED Display And Outdoor LED Display), By Application (Advertising Media, Information Display, Sports Arena, Stage Performance, Traffic & Security, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030" into their research database.

Industry Dynamics:

LED Display Market: Growth Drivers

• Humungous popularity of LEDs in households and commercial spaces to steer the global market growth.

Escalating demand for LEDs in households owing to the ability of LED bulbs in reducing electricity bills will boost the global LED display market demand. Moreover, the growing trend of power conservation will steer the expansion of the market across the globe. Use of LED displays at railway stations, trans, airports, buses, trams, and ferries will embellish the growth of the market globally. In addition to this, the need for reasonable operational expenditure, energy efficiency, and eco-friendly kind of LED displays will promote the expansion of the global market. Growing demand for LED displays in corporate displays, carnival contests, and a surging number of live performances will proliferate the size of the global market.

 In addition to this, rising government support for use of LED displays with a view to save energy will expedite the demand for the product. Apart from this, LED bulbs and tubes are durable and have a long lifespan, thereby steering the market landscape across the globe. Increase in the purchasing capacity of people in emerging economies and developed countries will embellish the global market space. Rise in the use of LED displays in televisions will proliferate the market size. 

LED Display Market: Restraints

• Use of LEDs has caused harm to health of humans and this can hinder the global industry surge.

Hazardous effects of LEDs on the health of humans can put brakes on the growth of the global LED display industry. In addition to this, LED bulbs as well as LED tubes make use of shortwave light and its constant exposure can cause chronic illness in humans, thereby hindering the industry expansion across the globe. 

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LED Display Market: Opportunities

• Huge product usage in transportation activities to open new growth avenues for the global market.

Rise in the allocation of shelf space for LED bulbs & LED tubes in retail stores with a view to promote the products has opened new growth opportunities for the global LED display market. Surging product demand across the transport sector and the growing use of digital signage in commercial as well as industrial applications will create new horizons of growth for the global market. 

LED Display Market: Challenges

• Rise in the costs of LED installation can prove to be the biggest challenge in the growth of the global industry.

High initial deployment costs of LED displays and voltage sensitivity resulting in voltage fluctuations can damage LED displays and this can pose a huge challenge to the growth of the global industry. Enhanced costs of raw components used in the manufacture of LED bulbs and LED tubes can also increase the costs of the latter, thereby curtailing the expansion of the industry across the globe. Moreover, disruption of supply chain activities can further create obstacles to the growth of the LED display industry. 

Global LED Display Market: Segmentation

• The global LED display market is sectored into type, application, and region.

In terms of type, the global LED display market is divided into indoor LED display and outdoor LED display segments. Furthermore, the outdoor LED segment, which contributed more than 70% of the global market share in 2022, is projected to lead the segmental landscape over 2023-2030. The segmental surge in the next eight years can be due to its beneficial product features such as its exceptional brightness, contrasting ratios, and viewing angles.

Based on the application, the global LED display industry is sectored into advertising media, traffic & security, information display, stage performance, sports arena, and others segments. Furthermore, the traffic & security segment, which contributed more than 35% of the global industry share in 2022, is projected to dominate the segmental space in the forthcoming years. Additionally, the growth of the segment over the next eight years can be owing to the massive use of LED bulbs in traffic lights with a view to avoid road collisions along with the need for aiding traffic security persons.  LED displays are used in traffic & security activities for maintaining traffic discipline and penalizing people violating traffic signal rules. This, in turn, will spur segmental growth in the upcoming years.

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List of Key Players in LED Display Market:

• Planar Systems Inc.
• Toshiba Corporation
• NEC Corporation
• Barco N.V.
• Panasonic Corporation
• Leyard Europe
• Samsung LED Co. Ltd.
• DEEPSKY CORPORATION LTD
• Daktronics Inc.
• AOTO Electronics Co. Ltd.
• LG Electronics Inc.
• Koninklijke Philips N.V.
• ViewSonic Corporation
• Sony Corporation.

Key questions answered in this report:

• What are the growth rate forecast and market size for LED Display Market?
• What are the key driving factors propelling the LED Display Market forward?
• What are the most important companies in the LED Display Market Industry?
• What segments does the LED Display Market cover?
• How can I receive a free copy of the LED Display Market sample report and company profiles?

Report Scope:

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Recent Developments

• In March 2023, Shenzhen Absen, a leading supplier of LED display solutions, launched the new MicroLED KLCOB series. The launching of new technology will bring a paradigm shift in the LED display business in the coming years.
• In March 2022, AOTO Electronics, a major LED screen provider, introduced ExLF series, a newly produced LED display series, which is designed for outdoor advertising applications The move will increase the sale of LED displays across the globe by leaps & bounds.
• In March 2020, Hikvision, a key provider of IoT services and video security solutions, introduced a spectrum of LED displays that can provide seamless and high-definition displays as well as colorful imaging. Reportedly, the new product provides indoor fixed LED, fine pitch LED, transparent, and outdoor LED technologies that will help in fulfilling end-user customization requirements. It marks the firm's entry into the digital signage business.
• In September 2022, Samsung Electronics Co., Ltd., a South Korea-based firm manufacturing consumer electronics products, launched next-gen micro-LED displays in the Southeast Asia and Oceania regions. The move will provide impetus to the expansion of the LED display industry in Asia and across the globe.

Regional Dominance:

• Europe LED display market to register a major revenue share over 2023-2030.

The European continent, which accounted for half of the global LED display market revenue share in 2022, is predicted to retain its dominant status over the forecast timeline. The regional market growth over 2023-2030 can be due to a rise in the number of sports activities witnessed in the region. Presence of strong power grid infrastructure in countries such as France, the UK, Belgium, Finland, Germany, and Luxembourg will steer the growth of the LED display market in Europe.

On the other hand, the LED display industry in Latin America is predicted to register the fastest CAGR of 7.6% in the next couple of years. The regional market growth over the forecast timeline can be due to increasing awareness about energy conservation among people. Technological breakthroughs in the power sector will embellish regional market trends.

Global LED Display Market is segmented as follows:

LED Display Market: By Type Outlook (2022-2030)

• Indoor LED Display
• Outdoor LED Display

LED Display Market: By Application Outlook (2022-2030)

• Advertising Media
• Information Display
• Sports Arena
• Stage Performance
• Traffic & Security
• Others

LED Display Market: By Region Outlook (2022-2030)

North America

• The U.S.
• Canada

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa

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