LED video walls can discharge more light than the conventional LCD video walls and digital sign boards. The aforementioned advantages have driven growth in the global LED video walls market.
LED video walls, which find application in advertisement displays, providing travel updates in airports, in indoor exhibitions or presentations, control rooms, etc., are seeing their demand soar due to the increase in marketing and promotional activities, live concerts, and sporting events.
Another factor serving to boost the demand is the availability of a variety of LED video walls having various customized sizes and resolutions and technologies catering to different applications requiring sharp visual and lasting viewing experience.
A report by Transparency Market Research forecasts the global LED video walls market to expand at a healthy 8.1% CAGR during the period between 2017 and 2025 to reach a value of US$3,882.9 mn by 2025 from US$1,967.2 mn in 2016.
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The global LED video walls market can be segmented into three parts depending upon the type of service – installation, repairing and maintenance, and rental.
Steep upfront cost involved in installing LED video walls is one major reason for consumers looking to rent those.
In the near future, however, the installation service segment is expected to expand at an impressive CAGR in both the European and Asia Pacific markets owing to their demand for indoor and outdoor promotional activities and rise in sporting events, brand promotions, and advertisements.
From a geographical standpoint, Europe is a leading market and it held a dominant share of about 32.0% in 2016. The uptake of LED video walls in Europe has been mainly brought about by the increasing number of sporting events, live concerts, and corporate exhibitions.
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North America is expected to emerge as a key player in order to satisfy the growing demand for LED video walls. Asia Pacific, however, is predicted to clock maximum growth on account of the region playing host to various international sporting events as well as regional tournaments that will drive up demand for LED video walls such as perimeter LED boards, LED score boards and LED mobile panels.
In the Middle East and Africa, the Gulf countries contributed almost half of the revenue in 2016 and is predicted to hold on to that share in the near future as well
Some of the key players in the global LED video walls market are LG Display Co., Ltd., Panasonic Corporation, Barco NV, Daktronics Inc., Leyard Optoelectronic Co., Ltd., NEC Corporation, Delphi Display Systems, Inc., Shenzhen Dicolor Optoelectronics Co Ltd., Shenzhen Unilumin Group Co. Ltd., Toshiba Corporation, Lighthouse Technologies, Ltd., and Electronic Displays, Inc.
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