Global LED Display Market to witness Impressive Growth by 2016 – 2024
Global LED Display Market: Overview
LED stands for light emitting diode; LED displays consists of flat panel display, which uses an array of light-emitting diodes for displaying video. LED display offers high brightness hence they are used in the outdoor displays such as digital nameplates in transport vehicles, store signs, and billboards. They are capable of providing illumination along with visual display thus; it is used for other decorative purposes such as stage lighting.
Global LED Display Market by Growth Factors: The major factor driving the global LED display market growth is the increasing demand for LED displays across the world. Other factors such as durability, energy efficiency, low operational cost, and environment-friendly nature of the LED displays encourage advertisers and marketers to use them for advertisement and outdoor promotional campaigns. Rising trend of corporate exhibitions, sports competitions, and rising number of live concerts are fuelling the market growth. Advancements in technology in the LED display market have opened up new growth opportunities in the future. LED display market shows a robust growth in the global market in the next few years. Rising penetration of LED technology in backlights of monitors, LCD TVs, and laptops will augment the investments made by the manufacturers. However, huge initial investment in the LED displays market is restraining the global market to some extent.
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Global LED Display Market by Segmentation: The global LED display market is categorized based on the application, type, and color display. The application segment is classified into two major categories such as digital signage and backlighting. The digital signage application segment is further sub-segmented into indoor signage and outdoor signage. The backlighting application segment is segregated into PC monitors, television, smartphones, laptops, and mobile. On the basis of type segment, the market is segmented into two major categories such as surface mounted LED displays and conventional LED displays. Furthermore, the color display segment is bifurcated into full color LED displays, monochrome LED displays, and tri-color LED displays.
Global LED Display Market by Regional Analysis: Europe is the dominating region for LED display market. Europe is followed by North America. Asia Pacific is another region growing at fastest rate due to increasing number of sports events and rapid infrastructural activities especially in the developing economies such as China and India. Japan is the major consumer of the global LED display market. Companies are involved in providing end-to-end solutions to the consumers coupled with emerging advanced technology thus fostering the market growth in the Latin American region. Increasing awareness about the energy conservation among people anticipates propelling the global LED display market growth in the Middle East and African region.
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Global LED Displays Market by Competitive Players: Major players in the global LED display market are Toshiba Corporation, Barco N.V., Panasonic Corporation, Samsung LED Co. Ltd., Daktronics, Inc., LG Electronics, Inc., and Sony Corporation.
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