Global Outdoor LED displays market: Overview
Outdoor LED displays are utilized in offering improved view of various events such as exhibitions, sports events, live concerts, and many others. This factor is playing an important role in the increased adoption of LED displays in several countries across the globe for purposes like sports and advertising. This is likely to drive the global outdoor LED displays market over the years of projection.
Outdoor LED displays come with several advanced features, which are likely to escalate the demand for the product. These features are prolonged life, high-energy efficiency, and low operational price. Several LED companies offer end-to-end service to their clients such as displaying on site and installation. Furthermore, increased utilization of these platforms for fostering the promotional behaviors of several corporate brands are likely to trigger development of the global outdoor LED displays market. Video walls and advertising boards are used for such brand promotions.
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Type, application, and region are displays market the three key parameters based on which the global outdoor LED displays market has been segmented for a detailed discussion. The sole purpose of such segmentation is to offer a clearer, precise, 360-degree view of the market.
Global Outdoor LED displays market: Notable Developments
One of the developments that offer a glimpse of the market dynamics about the global outdoor LED displays market is mentioned below:
- In February 2020, North America-based NEC Display Solutions is a prominent provider of digital signage solutions. The company made an announcement of an update regarding its Q series of dvLED (direct view LED) display lineup. This new display solution comes with an extended lifespan and high quality images. The improvement in the quality of image indicates at higher rate of refresh and more colors that are displayable. This upgradation is likely to increase the market share of the company in near future.
The global outdoor LED display market is highly competitive and driven by latest technologies. Some well-known organizations in the global outdoor LED displays market include the below-mentioned:
- Sony Corporation
- LG Electronics, Inc.
- Data Display Co., Ltd.
- Panasonic Corporation
- Toshiba Corporation
- Buchi Labortechnik AG
Global Outdoor LED displays market: Key Trends
The global outdoor LED displays market is likely to observe following drivers, opportunities, and restraints over the assessment period, from 2019 to 2027.
Augmented Spend on Promotional Activities to Shape Contours of the Market
Augmented demand for outdoor LED displays for the purpose of broadcasting advertisements and live actions have increased over the years, which is positively affect the global outdoor LED displays market over the years of projection.
In the last couple of years, a rising number of sports and musical events are being aired in open spaces. In addition, development of sports arenas and open air venues is likely to shoot up the demand for the product in near future. A surge in the brand endorsement and promotion activities together with colossal rise in the development of new products is likely to play an important role in the development of the global outdoor LED displays market.
In addition to that, the prominent sports companies in the market are making hefty investments in the promotion of their products through outdoor LED displays. These increased promotional activities are estimated to draw attention of a large number of consumers toward sports products. As such, the demands for outdoor LED displays are expected to rise. In addition, a huge rise in the number of various sports events, such as IPL, FIFA World Cup, UEFA Europa League, Olympics, and many other events are likely open up new avenues of revenue generation for the global outdoor LED displays market in the years to come.
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Global Outdoor LED displays market: Geographical Analysis
Europe is likely to come up as one of the dominant territories with a leading role in the revenue generation. The growth of the outdoor LED displays market in Europe is likely to be influenced by the rising number of sports events.
Asia Pacific is a region that holds immense possibilities for the market in near future. Driven by the billion dollar advertising business in the region, the global outdoor LED displays market is likely to observe rapid growth in the region. In addition, availability and integration of advanced technologies together with rising disposable income of the people in the region is expected to shoot up demand of the product in the region.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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