Global Video Walls Market: Snapshot
LED video walls, which find application in advertisement displays, providing travel updates in airports, in indoor exhibitions or presentations, control rooms, etc., are seeing their demand soar due to the increase in marketing and promotional activities, live concerts, and sporting events. Another factor serving to boost the demand is the availability of a variety of LED video walls having various customized sizes and resolutions and technologies catering to different applications requiring sharp visual and lasting viewing experience. Besides, LED video walls are designed to withstand difficult outdoor conditions and provide high definition visuals – yet another benefit that has catalyzed their market growth.
Acting as a roadblock to the global LED video walls market, on the other hand, is the high initial cost of investment. However, with the growing technological advancements on account of keen players funneling large amounts of money into research and development, low cost energy efficient LED video walls may soon hit the market and thus open up new avenues for growth.
A report by Transparency Market Research forecasts the global LED video walls market to expand at a healthy 8.1% CAGR during the period between 2017 and 2025 to reach a value of US$3,882.9 mn by 2025 from US$1,967.2 mn in 2016.
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Steep Cost of Installing LED Video Walls Spurs Demand for Rentals
The global LED video walls market can be segmented into three parts depending upon the type of service – installation, repairing and maintenance, and rental. Among them, the rental based service accounted for about a substantial 53% share in the market in 2016. Steep upfront cost involved in installing LED video walls is one major reason for consumers looking to rent those.
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Sporting Events and Live Concerts Propel Europe Market to the Top
From a geographical standpoint, Europe is a leading market and it held a dominant share of about 32.0% in 2016. The uptake of LED video walls in Europe has been mainly brought about by the increasing number of sporting events, live concerts, and corporate exhibitions.
North America is expected to emerge as a key player in order to satisfy the growing demand for LED video walls. Asia Pacific, however, is predicted to clock maximum growth on account of the region playing host to various international sporting events as well as regional tournaments that will drive up demand for LED video walls such as perimeter LED boards, LED score boards and LED mobile panels.
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In the Middle East and Africa, the Gulf countries contributed almost half of the revenue in 2016 and is predicted to hold on to that share in the near future as well
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