Growing
Demand for LED Video Walls Market by 2025
Global
Video Walls Market: Snapshot
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. Besides, LED video walls are designed to withstand
difficult outdoor conditions and provide high definition visuals –
yet another benefit that has catalyzed their market growth.
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Acting
as a roadblock to the global LED video walls market, on the other
hand, is the high initial cost of investment. However, with the
growing technological advancements on account of keen players
funneling large amounts of money into research and development, low
cost energy efficient LED video walls may soon hit the market and
thus open up new avenues for growth.
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.
Steep
Cost of Installing LED Video Walls Spurs Demand for Rentals
The
global LED video walls market can be segmented into three parts
depending upon the type of service – installation, repairing and
maintenance, and rental. Among them, the rental based service
accounted for about a substantial 53% share in the market in 2016.
Steep upfront cost involved in installing LED video walls is one
major reason for consumers looking to rent those.
Another
important reason for the popularity of the rentals segment is the
availability of customized or standard configurations video walls in
various shapes and sizes which are required for many business events
to display animation, presentations, full-motion video, still photos,
and graphics at resolutions up to 1080p and 4K. The LED video walls
are powerful devices to articulate value proposition and entertain
audiences.
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.
Sporting Events and Live Concerts Propel Europe Market to the Top
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.
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.
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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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