As per Future Market Insights, the LED modular display market is anticipated to attain a value pool of US$ 6 billion by 2023-end. Global demand for LED modular displays is expected to rise at a CAGR of 17.5% to US$ 30 billion in 2033.
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| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | USD 6 billion |
| Projected Market Value in 2033 | USD 30 billion |
| Growth Rate (2023 to 2033) | 17.5% CAGR |
The LED Modular Display market is anticipated to grow with a tremendous growth rate in the forecast period. According to 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.
The LED modular display allows any screen size or configuration to be created. These displays are designed for indoor and outdoor use. These 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 factors driving the market.
These displays are emerging as one of the preferred solutions for advertising activities. Furthermore, according to industry experts, LED displays have observed tremendous growth in a couple of years and this trend is anticipated to continue in the future, as the adoption rate of these displays increases, sales will increase and a steady decline in prizes will be observed in the fore coming years. This decline in prizes is set to benefit the market in the forecast period.
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 its brightness, owing to which their adoption in amusement parks is increasing.
The USA market was critically impacted by the Covid-19 pandemic in 2020 wherein the tourism & recreation industry was closed due to lockdown. However as the vaccination pace is increasing in the country and the gradual lifting of lockdowns, the market is anticipated to return to pre-pandemic levels in the next few quarters.
The USA market dominates the LED Modular Display market as a result of increased investment in R&D to provide manufacturers with sustainable, energy-efficient options.
Additionally, the USA has a prominent share of sports stadiums, as the country’s high schools, as well as colleges, have sports stadiums that are unique to American sporting culture. This factor complements the growth of the LED Modular Display market in the country.
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.
Some of the leading manufacturers of LED Modular Displays include
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 assessments by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macroeconomic 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.
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LED Modular Display Market
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