The global LED display market size was evaluated 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.
The market study is a crucial resource for information on opportunities, challenges, and growth factors in the international industry. The research includes a thorough analysis of the competition landscape as well as the geographic market. The paper also investigates the stakeholder and investor arena to assist businesses in making data-driven decisions.
Click Here to access The Full market Report : https://www.zionmarketresearch.com/report/led-display-market
Overview of the LED display industry
An LED display is a flat panel display that uses an array of light-emitting diodes to display videos. LED stands for light-emitting diode. Additionally, because the LED display is so brilliant, it has a wide range of uses in outdoor displays, including digital nameplates for retail signage, moving billboards, and transportation vehicles. These items are capable of offering both illumination and a visual display. It is also used for a variety of decorative reasons, such as stage lighting.
• Our research analyst’s analysis indicates that over the forecast period (2023-2030), the worldwide LED display market will develop at an average yearly growth rate of about 7.5%.
• The global LED display market was estimated to generate close to $15.3 billion in sales in 2022, and it is anticipated to grow to $23.3 billion by 2030.
• Due to increasing government support for using LED displays in order to save energy, the global market is predicted to experience enormous growth throughout the forecast period.
LEDs are incredibly popular in homes and businesses, which is fueling the expansion of the global industry.
The ability of LED lights to lower electricity expenses will drive up demand for LEDs in homes, which will drive up demand for LED displays globally. Additionally, the global market will expand due to the growing trend of power saving. The use of LED displays in transit, airports, buses, trams, and ferries will enhance the market’s expansion on a global scale. Additionally, the demand for LED displays with reasonable operational costs, high energy efficiency, and environmental friendliness would encourage the growth of the global market. The size of the market for LED displays will increase due to rising demand in corporate displays, funfair games and an increase in live performances.
The usage of LED displays in order to save energy is also receiving more government support, which will boost demand for the product. Additionally, the long lifespan and durability of LED bulbs and tubes have changed the market environment globally. The global market will be enriched by people’s increased purchasing power in developed and emerging economies. The market size will increase as LED screens are increasingly used in televisions.
Human health has been harmed by the use of LEDs, which could impede the worldwide industry’s growth
The development of the worldwide LED display sector may be slowed down by the potentially harmful effects of LEDs on human health. Additionally, the persistent exposure to shortwave light, which is used by LED tubes and bulbs, can lead to chronic sickness in people, preventing the industry’s global spread.
massive product use in transportation to create new market expansion opportunities
For the purpose of promoting the items, retail outlets are increasingly allocating shelf space for LED bulbs and LED tubes, which has created new growth prospects for the global LED display market. The transportation industry’s booming product demand as well as the expanding use of digital signage in commercial and industrial applications will open up new growth prospects for the global market.
The largest obstacle to the expansion of the global sector may be the rise in the price of installing LEDs.
The high initial costs of LED display deployment as well as voltage sensitivity that results in voltage swings might seriously hinder the development of the worldwide business. Increased costs for the raw materials used to make LED bulbs and LED tubes can also raise their prices, which would stop the sector from growing globally. The disruption of supply chain operations may also add to the challenges facing the development of the LED display market.
The Global LED Display Market is segmented based on product, application and region.
Global LED Display Market: Product Segment Analysis
● Indoor LED Display
● Outdoor LED Display
Global LED Display Market: Application Segment Analysis
● Advertising Media
● Information Display
● Sports Arena
● Stage Performance
● Traffic & Security
Recently Occurring Events :
• Shenzhen Absen, a well-known provider of LED display solutions, debuted the new MicroLED KLCOB series in March 2023. In the upcoming years, the introduction of new technology will cause a paradigm shift in the LED display industry.
• AOTO Electronics, a significant supplier of LED screens, debuted the ExLF series in March 2022. This newly created LED display series is intended for outdoor advertising applications. The decision will significantly boost the selling of LED screens all around the world.
• A leading supplier of IoT services and video security solutions, Hikvision, unveiled a range of LED displays in March 2020 that can deliver smooth, high-definition displays as well as colourful pictures. The new product reportedly offers indoor fixed LED, fine pitch LED, transparent, and outdoor LED technologies that will aid in meeting end-user customization needs. It signifies the company’s introduction into the market for digital signage.
• Next-generation micro-LED displays were introduced in Southeast Asia and Oceania in September 2022 by Samsung Electronics Co., Ltd., a company located in South Korea that produces consumer electronics devices. The action will provide the global and Asian growth of the LED display sector a boost.
The LED display market profiles key players such as:
● 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
Europe’s LED display industry is expected to post significant growth between 2023 and 2030.
Over the projected period, it is expected that the European region, which in 2022 accounted for 50% of the worldwide LED display market revenue share, will continue to dominate. The increase in the number of sporting activities in the region between 2023 and 2030 may be the cause of the regional market growth. The development of the LED display business in Europe will be influenced by the presence of robust power grid infrastructure in nations including France, the UK, Belgium, Finland, Germany, and Luxembourg.
On the other side, it is anticipated that Latin America’s LED display market would have the quickest CAGR of 7.6% during the coming years. The expansion of the regional market over the anticipated period may be attributed to people’s growing knowledge of energy saving. Power industry technological advancements will accentuate local market trends.
Get Customization Report : https://www.zionmarketresearch.com/custom/1456
About Us :
Zion Market Research is an obligated company. We create futuristic, cutting edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database.