The global LED Modular Display market size is expected to be worth around US$ 12.60 billion by 2028, according to a new report by Vision Research Reports.
The global LED Modular Display market size was valued at US$ 5.50 billion in 2020 and is anticipated to grow at a CAGR of 13.5% during forecast period 2021 to 2028.
Get Sample Copy of This Report (Including TOC, List of Tables & Figures, and Chart)@ https://www.visionresearchreports.com/report/sample/36708
The increasing need to display multiple information coupled with the upcoming outdoor events across the developed and emerging economies is expected to drive overall market growth. LED modular display is a flat panel display that integrates the LEDs and the rest of the necessary electronics, that are used as video wall or large format display. They are predominantly used for outdoor and indoor applications such as retail, outdoor sports, and public spaces. Thus, increasing adoption of LED modular displays across several applications such as retail stores, media, and advertising, airports/ railways, sports and entertainment, control room, and auditoriums, among others, will fuel the market growth.
Due to the COVID-19 pandemic, the demand for LED modular displays declined in 2020. However, in the forthcoming years, the demand is expected to increase owing to the resumption of public gathering, outdoor events, sporting events, and business conferences, among others. In July 2020, Shenzhen Absen Optoelectronic Co., Ltd.’s 350-sqm LED displays were deployed at the Dubai World Trade Center for the Dubai Summer Conference. The Ai Everything x Restart Summer conference was the first live in-person global event that was organized after the COVID-19 pandemic. The LED displays included a hanging display and a massive stage backdrop to maximize the presentation and create an immersive environment in the exhibition space.
The outdoor modular screens segment accounted for the largest revenue share of over 50.01% in 2020 and is anticipated to sustain its dominance over the forecast period. Outdoor LED screens are particularly designed to deliver information in a visually appealing style even in harsh environmental conditions, including extreme heat, dust, and rains. The segment holds a dominant share throughout the forecast period owing to its massive demand in sophisticated applications such as perimeter boards, stadium screens scoreboards, advertising boards, and video walls. Additionally, increasing outdoor events such as sports events, music concerts, product launches, brand endorsements, and political assemblies are expected to boost the segmental growth.
The indoor modular screens segment is projected to expand at the highest CAGR of 13.7% over the forecast period. The increasing demand for LED video walls to display information pertaining to departure and arrival of flights, buses, and trains at airports and stations are expected to drive the segment growth. Moreover, LED video walls are considered as the most efficient and reliable video walls. They are gaining immense popularity, mainly owing to their ability to deliver high-quality and seamless images. Hence, video walls are being increasingly installed in the retail space and shopping malls.
The European market accounted for the largest revenue share of around 35% in 2020. The region holds a dominant share owing to the significant demand stemming from the digital-out-of-home (DOOH) advertising projects and the growing adoption of the technologies in the U.K., Germany, Italy, and Belgium among other countries. Moreover, the increasing number of corporate exhibitions, sporting events, and live concerts are also expected to surge the demand for LED modular displays in Europe.
The Asia Pacific regional market is projected to expand at the highest CAGR of 14.9% from 2020 to 2027. The continuous developments of public venues and the subsequent adoption of modern display technologies for advertising purposes are the factors expected to witness regional growth. Besides, Asia Pacific is home to several major manufacturers, such as SHENZHEN ABSEN OPTOELECTRONIC CO., LTD, Planar, NED Display Solutions, Liantronics, Samsung, and Sony Corporation. Moreover, Japan’s LED video display shipments are expected to increase in 2021 as it prepares for the Olympic Games.
- SHENZHEN ABSEN OPTOELECTRONIC CO., LTD
- Yaham Optoelectronics Co., Ltd.
- NEC Display Solutions
- Planar (Leyard)
- Pro Display
- Sony Corporation
- Type Outlook
- Indoor Modular Screens
- Outdoor Modular Screens
- Regional Outlook
- North America
- The U.S.
- The U.K.
- Asia Pacific
- Rest of the World (RoW)
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
Buy This Premium Research Report, click here@ https://www.visionresearchreports.com/report/cart/36708 or call: +1 9197 992 333