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.
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➤ The global market’s development will be influenced by the immense popularity of LEDs in commercial and residential spaces.
The demand for LEDs in households will increase as a result of the ability of LED bulbs to reduce electricity bills, which will also bolster the global LED display market. Additionally, the market will expand globally due to the increasing prevalence of power conservation. LED displays will contribute to the global market’s expansion by being implemented in railway stations, airports, buses, trams, and vessels. Furthermore, the global market will be stimulated by the necessity for energy efficiency, reasonable operational expenditures, and environmentally favorable LED displays. The global market will expand due to the increasing demand for LED displays in corporate displays, carnival contests, and a growing number of live performances.
➤ The global industry surge may be impeded by the health risks associated with the use of LEDs.
Growth of the global LED display industry may be hindered by the hazardous effects of LEDs on human health. Furthermore, the industry’s global expansion is impeded by the constant exposure of humans to shortwave light, which is utilized in LED bulbs and tubes. This exposure can result in chronic illnesses.
➤ A significant amount of product is utilized in transportation activities to create new growth opportunities for the global market.
An increase in the allocation of shelf space for LED bulbs and LED tubes in retail stores to promote the products has created new growth opportunities for the global LED display market. New horizons of growth for the global market will be established by the increasing use of digital signage in commercial and industrial applications, as well as the surge in product demand across the transport sector.
➤ The most significant obstacle to the global industry’s expansion may be the increase in the cost of LED installation.
The growth of the global industry can be significantly impeded by the high initial deployment costs of LED displays and the voltage sensitivity that can result in voltage fluctuations, which can damage LED displays. The industry’s global expansion may be restricted by the increasing costs of LED tubes and bulbs, which are produced with primary components that are more expensive. Additionally, the LED display industry may encounter additional challenges as a result of disruptions to supply chain operations.
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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
● Others
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The global 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
???? Recent Developments
• The new MicroLED KLCOB series was introduced by Shenzhen Absen, a prominent supplier of LED display solutions, in March 2023. In the years ahead, the LED display industry will undergo a paradigm transition as a result of the introduction of new technology.
• ExLF series, a newly developed LED display series, was introduced by AOTO Electronics, a prominent LED screen provider, in March 2022. This series is specifically designed for outdoor advertising applications. The implementation of this measure will result in a substantial increase in the global sales of LED displays.
➤ The LED display market in Europe is expected to experience a significant increase in revenue between 2023 and 2030.
It is anticipated that the European continent will maintain its dominant position throughout the forecast timeline, as it accounted for half of the global LED display market revenue share in 2022. It is possible that the increase in the number of sports activities observed in the region is the reason for the regional market growth between 2023 and 2030. The LED display market in Europe will be driven by the presence of robust power utility infrastructure in countries such as the UK, Belgium, Finland, Germany, and Luxembourg.
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