NEW YORK -- According to the latest market report published by Persistence Market Research, titled "Global Market Study on Outdoor Led Displays: Asia Pacific to Witness Highest Growth by 2021 in Installed As Well As Rental Market.", the outdoor LED displays installed market is estimated to be valued at US$ 6,477.1 Mn by the end of 2015 and is anticipated to expand at a CAGR of 15.9% from 2015 to 2021, to account for US$ 15,705.7 Mn by 2021. The report on Global Outdoor LED Displays market covers installed and rental market.
Currently, the global outdoor LED displays market is primarily driven by enhance features offered by LED Displays as compared to conventional displays including energy efficiency, durability and less maintains cost. Moreover, rising promotional activities across several industries is also encouraging the growth of outdoor LED display products such as video walls, LED billboards and LED mobile screens. However, factors such as high initial costs for fixed installation and growing trend towards the inclination of online advertising are expected to constrain the growth of the market.
On the basis of application, the outdoor LED displays market is segmented as LED billboards, LED mobile screens, and LED video walls, LED traffic lights and other LED matrix displays. The LED billboards segment is expected to account around 46% share of the global outdoor LED (installed) market by 2021 end and is expected to witness as CAGR of 16.7% in terms of value over the forecast period (2015-2021). LED video walls segment is accounted for 14.5% share in 2014 in the .installed market and is expected to increase at a CAGR 16.8% in terms of value during the forecast period.
On the basis of color display, the outdoor LED display market is segmented as a monochrome display, tri-color display, and full-color display, Full-color display segment accounted for 59.9% share of the global outdoor LED displays in the installed market in 2014.However, in the rental market full-color display segment accounted for 58.8% in 2014. Increasing demand for high resolution LED displays for advertisement and promotional events at shopping malls, retail stores, sports stadiums, exhibitions and entertainment events is expected to drive the installed and rental market growth during the forecast period.
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