Global LED Display Market: Overview
Light emitting diode (LED) is essentially a semiconductor chip that emits light of different wavelength in the visible spectrum along with emission of UV and infrared light. LED displays are used to display multimedia graphics, such as advertisements, company promotions, scoreboards, and traffic signs, and can be mounted on buildings, highways, stadiums, and entertainment shows to extend their reach to a large population.
In recent years, the application of LEDs was limited to certain specific lighting needs and had not entered the mainstream lighting applications. The introduction of LED in applications such as lighting and displays has given a strong thrust to the market. A variety of technologies are implemented in manufacturing of LED products. Chips and components are the basic materials assembled to manufacture the final display product.
The report offers a distinctive evaluation of the global LED display market, taking into account its growth factors, restraints, and potential business prospects.
Global LED Display Market: Trends and Opportunities
The global LED market is currently in its nascent phase. The surge in the usage of LEDs in different industrial applications such as automobiles, mobile phones, and backlighting applications is predicted to heavily influence the trajectory of the global LED display market. In the prevailing business scenario, environmental awareness is growing amongst the people. Increasing green construction is one of the key factors resulting in the growth of the LED display market across the globe.
The increasing demand for LED displays in outdoor advertisements is a primary factor driving the market growth. Enhanced features such as energy efficiency, being environment friendly, low in operational cost, and durability have encouraged marketers and advertisers to use LED displays for outdoor promotional campaigns and advertisement. Furthermore, the incrementing number of live events such as concerts, sport competitions, and corporate exhibitions are further fueling the LED display market at present.
Global LED Display Market: Geographical Analysis
The global LED display market is segmented into four major regions, namely North America, Europe, Asia Pacific, and Rest of the World (Latin America, Middle East, and Africa) for geographical analysis. China and Japan are the key and emerging LED display markets in Asia Pacific, on account of the rising number of sports activities along with infrastructural development across nations such as India and China.
Global LED Display Market: Companies Mentioned
Owing to the presence of international and regional vendors, this market appears to be highly fragmented and is competitive. Vendors operating in the industry are likely to offer end-to-end solutions, from manufacturing to installation at the site along with after-sales services. Industry participants are expected to focus on investing in research and development activities in order to increase efficiency and reduce emissions in order to gain strategic advantage over their competitors.
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Some of the key players in the LED display market include Barco N.V. (Belgium, Sony Corporation (Japan), Panasonic Corporation (Japan), LG Electronics, Inc. (South Korea), Daktronics, Inc. (U.S.) Toshiba Corporation (Japan), Samsung LED Co. Ltd. (South Korea) others.
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