At present, the market for outdoor LED displays is enjoying a high level of competition among the major players in the market, states a study by Transparency Market Research. The existence of a large number of local and international players and the significant rise in the number of Chinese Manufacturers that are estimated to enter the market is projected to enhance the competitive landscape of the market in the near future. In addition, developments and innovations in this field and the increasing investments by the leading players for research activities are predicted to support the market growth throughout the forecast period. Some of the leading players engaged in the outdoor LED displays market worldwide are Lighthouse Technologies Ltd., Leyard Optoelectronic Co. Ltd., Panasonic Corporation, Electronics Display Inc., LG Electronics, Sony Corporation, Toshiba Corporation, Data Display Co. Ltd., Daktronics, Inc., and Barco N.V.
The new market research study by TMR, in 2013, the global market for outdoor LED displays stood at US$4.80 bn and is further predicted to reach a value of US$12.54 bn by the end of 2020. The market is anticipated to register a healthy growth rate in the coming few years. From a regional perspective, Europe is expected to hold a major share of the outdoor LED displays market throughout the forecast period. The increasing number of sports activities and the rapid development of infrastructure is estimated to accelerate the growth of the Europe market in the next few years.
Increasing Number of Sports Events to Propel Outdoor LED Displays Market
In the last few years, the increasing number of musical and sports events and the development of open air venues and sports arenas are the major factors that are predicted to support the development of the outdoor LED displays market in the near future. The increasing number of promotion and branding campaigns and the development of new products are anticipated to enhance the growth of the market in the coming few years. These factors are likely to encourage the growth of the global outdoor LED displays market in the near future.
Furthermore, the leading sports companies in the market are spending heavily for marketing and advertising, thus they are making use of outdoor LED displays for displaying their products. This is expected to attract a large number of consumers across the globe and ensure the rapid growth of the outdoor LED displays market in the next few years. Moreover, a tremendous rise in the number of sports events, such as Olympics, FIFA, and other events are likely to enhance the development of the market in the near future.
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High Cost of Outdoor LED Displays to Curb Market Growth
The global market for outdoor LED displays market, on the other hand is likely to witness a slight downfall in the next few years. The high cost of LED displays is considered as the key factor that is projected to hamper the development of the market in the near future. Moreover, the installation of LED display is quite expensive in comparison with the other conventional displays available, owing to which the market is estimated to curb the growth in the near future. Nonetheless, the rise in the demand for outdoor LED displays across diverse industries is projected to accelerate to encourage the market growth in the near future.
This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “Outdoor LED Displays Market (Applications – LED Billboards, Perimeter LED Boards, LED Mobile Panels, LED Traffic Lights, LED Video Walls and Other LED Matrix Boards) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020.”
- Rising promotional activities by big brands to ensure development of the global outdoor LED display market in the coming few years.
- Increasing outdoor events and the rising investments by companies for advertising to propel global outdoor LED displays market in the near future.