LED Modular Display Market Overview
LED Modular Display market is anticipated to grow with a tremendous growth rate in the forecast period. According to study the LED Modular Display market is projected to expand between 10% and 14% CAGR during the 2021 to 2031 assessment period
The growing adoption in a variety of applications, such as retail stores, air terminals/railways, media and marketing, sports and entertainment, theatres, and control rooms, is expected to fuel market growth throughout the forecast period.
What is Driving Demand for LED Modular Display
The LED modular display allows any screen size or configuration to be created. This displays are designed for indoor and outdoor use. This displays consist of flat panel display, which integrates the LEDs and the rest of the necessary electronics.Growing prominence in the sports and advertising industry has been one of the significant factor driving the market.
This displays are emerging as one of the preferred solutions for advertising activities. Furthermore according to industry experts, LED displays has observed tremendous growth in couple of years and this trend is anticipated to continue in future, as the adoption rate of this displays increases, sales will increase and a steady decline in prizes will be observed the fore coming years. This decline in prizes is set benefit market in the forecast period.
Which Trend is influencing the LED Modular Display Market
Due to the high pixel density and customizability on offer, the emerging trend of smart homes is positively affecting their demand. Furthermore, because of their small size, lightweight, and simple installation, LED displays are gaining appeal in the corporate sector for displaying products and important information.
Aside from that, the product has been designed to survive harsh weather conditions and change their brightness, owing to which their adoption in amusement parks is increasing.
U.S. Market Growth Outlook
The U.S. market was critically impacted by Covid-19 pandemic in 2020 wherein the tourism & recreation industry were closed due to lockdown. However as the vaccination pace is increasing in the country and gradual lifting of lockdowns, the market is anticipated to return on pre pandemic levels in next few quarters.
U.S. market dominates the LED Modular Display market as a result of increasing investment in R&D to provide manufacturers with sustainable, energy efficient options.
Additionally, the U.S. has a prominent share of sports stadiums, as the country’s high schools as well as colleges have sports stadiums which are unique to American sporting culture. This factor compliments the growth of LED Modular Display market in the country.
India Demand Potential for LED Modular Display
The LED display modular market in India is expected to grow on account of increasing advertising spending by companies on the number of promotional campaigns and the volume of marketing activities in the Indian market.
To display promotional materials, several of these players are turning to attractive commercial displays and other solutions. Furthermore, infrastructure development, as well as the development of the retail and tourism industries, would drive demand in numerous parts of the country during the projection period.
However, due to a lack of awareness and adoption of such solutions in the country's semi-urban and rural areas, the LED modular display market is yet to grow on a larger scale.
Who are the Key Manufacturers and Suppliers of LED Modular Display
Some of the leading manufacturers of LED Modular Display include
- NEC Corporation
- Barco NV
- Samsung Electronics Co., Ltd. (Samsung Group).
- Shenzhen Absen Optoelectronic Co Ltd.
- Yaham Optoelectronics Co., Ltd..
- Sony Corporation
- Panasonic Corporation and others
Market participants are investing in innovation and R & D, although this requires a larger budget, which raises the overall cost of the displays, which has prompted manufacturers to provide LED modular displays for rent. Additionally, manufacturers are focusing on providing energy efficient options.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
By End Use:
- Sports & Recreation
- Telecommunication & IT
- North America
- Latin America
- East Asia
- South Korea
- South Asia & Pacific
- ASEAN Countries
- Middle East and Africa
- GCC Countries
- North Africa
- South Africa