Outdoor LED displays consists of LED of different color wavelengths, and are programmed to display multimedia graphics, such as company advertisements, promotions, scoreboards, and traffic signs. These are mounted on buildings, highways, stadiums, and live stages for entertainment shows.
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Outdoor LED displays have been gaining popularity, owing to significant technological advancements such as automated LED displays, wireless control systems, better picture quality, and high brightness level. However, factors such as high initial investments and unstable demand are some of the major factors hampering the market growth.
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In 2016, the individually mounted segment was the highest contributor to the market growth, and is expected to grow at a CAGR of more than 20% during the forecast period. In addition, in 2016 the billboards segment accounted for the majority of revenue share among outdoor LED display applications.
Asia-Pacific is the dominant region, and is estimated to maintain this trend during the forecast period, owing to the rapid proliferation of the electronic manufacturing and telecommunication industries.
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