Digital signs using the latest LED technologies have emerged as the latest and the most attractive marketing tool. In today’s fast-paced world, advertisers can manage only a few seconds to gain customers’ attention. Hence, it is important that advertising approaches used nowadays are attractive and eye-popping, which is why most businesses are using outdoor LED displays to entice new customers. A recent market survey by Persistence Market Research anticipates the global outdoor LED displays market to grow from US$5.5 bn in 2014 to US$15.7 bn by the end of 2021. The figures, therefore, indicate the market to exhibit a promising CAGR of 15.9% during 2015-2021. The market for installed and rental outdoor LED displays gains traction from increasing advertising and brand promotion activities worldwide. Furthermore, growing demand for high-quality viewing experience with better clarity will give momentum to the global installed and rental outdoor LED displays market.
Energy-efficient Outdoor LED Displays Surpass Other Outdoor Advertising Tools in terms of Consumer Demand
Installed and rental outdoor LED display systems are environment-friendly, energy efficient, and durable, and thus involves much less operation cost compared to other advertising tools. Corporate brands, therefore, are encouraged to exhibit their offerings on a massive scale for a reasonable price on outdoor digital signage. The market for installed and rental outdoor LED displays witnesses an exceptionally high demand during some exclusive live concerts and sports events. Outdoor LED display is therefore, a preferred choice for event organizers who want to promote their events in large-scale. This is a significant factor fuelling the demand from the installed and rental outdoor LED displays market. The initial price for outdoor LED displays although is a little high, its overall impact on the market withers away over the years. Furthermore, the introduction of the latest technologies is further expected to give the market a significant boost.
Rise in Promotional Activities to Boost Global Installed and Rental Outdoor LED Displays Market
Increase in the number of promotional activities sponsored by corporate brands, is giving an impetus to the global market for installed and rental outdoor LED displays. The market gains increased revenue during global sporting events such as Olympics and Common Wealth Games. Organizers have also been using outdoor digital signage to promote and gain an audience for their regional tournaments. Owing to increasing demand for advertising and promotion purposes the LED billboards segment of the installed outdoor LED displays market, which stood at US$ 2.4 bn, is expected to reach US$2.8 bn by 2015. Growth is also expected in other segments of the global installed and rental outdoor displays market such as LED video walls, and surface mounted. The market segment of LED video walls, which was valued at US$807.8 mn in 2014 is going to reach US$948.2 mn. Furthermore, the surface mounted segment was valued at US$2.6 bn and is expected to exhibit a CAGR of 17.7% during 2015-2025.
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Key players involved in the global installed and rental outdoor LED Displays market include Sony Corporation, Barco N.V, Toshiba Corporation, Panasonic Corporation, Leyard Opto Electronics Pvt. Ltd., Daktronics Inc., EKTA Ltd., LG Electronics, and Electronic Displays Inc.