LED Display Market Growth Predicted to Reach $23.3 Billion, Increasing Size at a CAGR of 7.5% from 2023 to 2030

Dec 08, 2023

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12 May, 2023, 11:00 ET

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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:

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

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

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

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

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

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:

Key questions answered in this report:

Report Scope:

Report Attribute

Details

Market size value in 2021

USD 15.3 Billion

Revenue forecast in 2030

USD 23.3 Billion

Growth Rate

CAGR of almost 7.5% 2022-2030

Base Year

2022

Historic Years

2016 – 2021

Forecast Years

2023 – 2030

Segments Covered

By Type, By Application, And By Region

Forecast Units

Value (USD Billion), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2022 to 2030

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, andRest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan,South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Companies Covered

Planar Systems Inc., Toshiba Corporation, NEC Corporation, Barco N.V., PanasonicCorporation, Leyard Europe, Samsung LED Co. Ltd., DEEPSKY CORPORATIONLTD, Daktronics, Inc., AOTO Electronics Co., Ltd., LG Electronics, Inc., KoninklijkePhilips N.V., ViewSonic Corporation, and Sony Corporation.

Report Coverage

Market growth drivers, restraints, opportunities, Porter's five forces analysis, PESTanalysis, value chain analysis, regulatory landscape, market attractiveness analysisby segments and region, company market share analysis, and COVID-19 impact analysis.

Customization Scope

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Recent Developments

Regional Dominance:

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)

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

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

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

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