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Outdoor LED Display Demand Experiencing High Global Growth

Posted by Fay Bromilow on

The popularity of LED window displays is growing, as a fresh report has revealed the global market for outdoor LED displays is set to rocket to $14 billion (£10.4 billion) by 2023.

According to a report published by Allied Market Research, the Asia-Pacific region is accounting for much of the demand, as it currently holds over 40 per cent of the global market share in this technology.

This huge growth to $14 billion represents a compound annual growth rate of 21.7 per cent, the report revealed.

As of 2016, the worldwide global outdoor LED display market accounted for $4 billion, with increasing adoption of LED displays for advertising, promotions, sports match scores and traffic announcements.

Moreover, last year the individually-mounted segment of this market was the highest contributor to growth and this is anticipated to grow at more than 20 per cent compound annual growth rate over the forecast period to 2023.

The technology has been growing in popularity due to the quick advancement of outdoor LED display technology, allowing for clearer and more colourful pictures, higher brightness and wireless control.

LED displays are being used more as a marketing tool, with vice-president of global marketing at LED visualisation solutions developer NanoLumens Joe Lloyd saying recently that the technology is a good vehicle for content.

However, he added that as the industry matures, LED technology and how its content is digested by consumers will raise a lot more questions about customer engagement and what are the best ways to convey brand messages.

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