The global outdoor LED display market size was US$ 7,926.9 million in 2021. The global outdoor LED display market is forecast to grow to US$ 15,863.5 million by 2030 by registering a compound annual growth rate (CAGR) of 8.1% during the forecast period from 2022 to 2030.

Large billboards that show live commercials, photographs, promotional videos, and other material are known as outdoor LED displays. They are used in avenues, malls, parks, and parking lots. These displays are embedded with a light-emitting diode (LED), a semiconductor chip, etc.

Factors Influencing the Market

Outdoor LED displays offer high brightness and are suitable for all weather conditions. This factor will primarily drive the growth of the outdoor LED display market. In addition, the growing range of advertisements to promote products and services will also upsurge the demand for outdoor LEDs during the study period.

LED display advertising is gaining significant traction due to its benefits over paper or poster-based advertising. In addition to that, a growing number of sports events, entertainment shows, exhibitions, seminars, ceremonies, etc., will all fuel the growth of the market. On the contrary, the high initial investment associated with outdoor LED displays may limit the growth of the market.

Alternative display designs that are both energy efficient and cost effective are needed in the advertising industry. Thus, it can be opportunistic for the outdoor LED display market.

COVID-19 Impact Analysis

The COVID-19 outbreak negatively impacted the outdoor LED display market owing to the decline in the workforce. Furthermore, various enterprises across the globe recorded substantial losses, which limited the demand for outdoor advertising. Due to stringent lockdown restrictions, outdoor traffic was reduced drastically. People were forced to stay at home in order to stay safe. As a result, it drastically reduced the demand for outdoor advertising.

The global outdoor LED display industry has been damaged by the COVID-19 epidemic. New construction projects have been delayed all around the world, impacting the demand in a variety of businesses. All of these factors impeded the growth of the global market during the COVID-19 pandemic.

Regional Analysis

During the forecast period, the Asia-Pacific outdoor LED display market is forecast to hold dominance. The outdoor LED display market is forecast to have lucrative growth prospects across China, Japan, India, Southeast Asia, and the rest of Asia-Pacific. China, Japan, Taiwan, and South Korea are among the world's top producers and consumers of outdoor LED displays and semiconductors, which will significantly contribute to the industry's growth.

After Asia-Pacific, Europe is expected to emerge as the fastest-growing area in the market for outdoor LED displays, owing to the growing adoption of smart LED displays. Moreover, the related control systems become more widely used in sports event displays, traffic management systems, and commercial advertisements, which will benefit the overall regional market.

Competitors in the Market

Electronic Displays Inc.
Galaxia Electronics
Barco
Daktronics, Inc.
Leyard
LG Electronics
Lighthouse Technologies Limited.
Panasonic Corporation
Toshiba Corporation
Other Prominent Players
Market Segmentation

The global outdoor LED display market segmentation focuses on Type, Application, and Region.

By Type Outlook

Surface Mounted
Individually Mounted
By Application Outlook

Billboards
Mobile LED Displays
Perimeter Boards
Traffic Lights
Video Walls
Others
By Regional Outlook

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America