- 26 June 2019 14:35
Future Opportunities of LED Display Market Key Trends, Opportunities and Development Factors in Advertising Media and Information Display sector with CAGR of 27.7% till 2028
New York, Jun 26, 2019: Presently, a large number of electronic devices including small and large, using LED display as a screen and as a medium of interaction between the system and user. The application of LED display in various electronic devices includes TVs, computer monitors, mobile phones, laptops screens, tablets, etc. These displays offer various benefits including low power consumption, longer lifespan, and high brightness. Rising awareness regarding latest technologies, owing to high penetration of smartphones and Internet is one of the key factor propelling growth of the global LED display market.
These displays are available in two types: indoor LED display and outdoor LED display. Among these demand for outdoor LED display is expected to increase significantly, owing to increasing application of LED displays among various outdoors and other commercial spaces including sports clubs, stadiums, gyms, restaurants, etc. In addition, installation of these displays over highways as variable message signs and as destinations signs on public transportation vehicles are some factors fueling demand for outdoor LED displays.
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Indoor LED displays are those displays which are intended to use for indoor purpose such as presentations, aquarium museums etc. These displays are made up of using the SMD Technology (Surface Mounted Device). SMD technology is a process for producing electronic circuits in which the components are placed or mounted directly onto the surface of PCBs (Printed Circuit Boards). Indoor displays aids to better visibility in closed spaces such as indoor advertising through LED displays that helps to advertise in closed spaces including exhibitions, sports halls, trade fairs, etc. and passing on messages more efficiently and attractively to viewers. Increasing demand for indoor displays for various indoor application coupled with various characteristics offered by it including large viewing angle, high brightness, light-weight, long life span, quick installation and easy maintenance are some of the major factors supporting growth of the global market.
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However, expensive cost of LED displays is a key factor expected to hamper growth of the global market. Moreover, fragmentation of the market is a factor which may challenge the global market growth to a certain extent.
Asia Pacific Market for LED displays is dominating the target market in terms of revenue shares, owing to rising number of infrastructure development activities. Increasing number of sports event activities in emerging economies such as India and China is expected to fuel demand for LED displays, which will create positive impact on growth of the LED displays market. In addition, capability of mass production coupled with availability of labors and raw materials at minimal cost is a factor expected to propel growth of the LED displays market. North America LED displays market is projected to register significant growth, owing to strong presence of market players. In addition, quick adoption of latest technologies among tech-savvy population will create positive impact on growth of the LED displays market in this region.
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