The LED displays are usually high in price which is affecting the adoption rate in the Outdoor LED displays market. The price per lumen and high initial capital cost will negatively impact the industry. LEDs are much more expensive than the traditional lighting technologies. They must be provided with the correct current and voltage supply., This needs some electronics skill to design the electronic drivers
Advertisements on taxicabs interconnected by billboards is projected to deliver players an opportunity to reach their customers. News racks, Phone kiosk advertising benches and other customized applications will witness a high demand.
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Based on technology, individually mounted segment will witness a significant rise in the outdoor LED displays market. Increasing demand for large display screens with high watching distance is expected to boost retailers and commercial builders to accept this technology. It produces less heat and offers longer duration when compared to conventional devices.
By color display, full color outdoor LEDs will have a considerable growth owing to the increasing adoption of complete color models due to its aptitude to offer high quality animations, videos, and images will drive full-color market.
Based on applications, Billboards will witness a significant rise estimated to increase at over 20% CAGR over the next seven years. Growth in the segment can be accredited to several features offered such as dynamic content, far-fetched visibility and cost-effectiveness. Traffic lights segment is estimated to increase at over 18% from 2017 to 2024.
China outdoor LED displays market is expected to grow at a significant rate over the forecast timeline. Rising demand for structured light scanners and high adoption across several application areas will drive the regional demand. Latin America is expected to become the most attractive region and is projected to cross USD 750 million by 2022.
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Key players in the outdoor LED displays market include Sony, LG Electronics, Panasonic, Daktronics, Toshiba, Shenzhen Dicolor and Electronic Displays. Other industry participants in the industry include Optoelectronics, Barco NV, Lighthouse Technologies and Leyard Optoelectronic.
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