November 2, 2021 09:11 US Eastern Time | Source: United Market Research United Market Research

Portland, Oregon, November 2, 2021 (GLOBE NEWSWIRE) - According to a report released by Allied Market Research, the global outdoor LED display market created $6.39 billion in 2020 and is expected to reach 14.52 billion by 2030 USD, the compound annual growth rate is 9.1% from 2021 to 2030.

The rise of digital advertising, energy efficiency features, high digital sponsorship and information displays has promoted the growth of the global outdoor LED display market. However, high installation and initial costs hindered market growth. On the contrary, alternative LED advertising design is expected to open up new opportunities for market participants in the future.

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The report segmented the global outdoor LED display market based on type, application and region.

According to the type, the highest compound annual growth rate of the surface mount segment is expected to be 9.8% during the forecast period. However, the individually installed market segment will occupy the largest share in 2020, contributing more than half of the market.

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On the basis of application, it is expected that the smart building AV segment will show the highest compound annual growth rate of 12.5% ​​during the forecast period. However, the professional AV segment will occupy the largest share in 2020, accounting for more than a quarter of the market.

The global outdoor LED display market in several regions such as North America, Europe, Asia Pacific and LAMEA is analyzed. The Asia-Pacific market will dominate in 2020, occupying more than one-third of the market share. In addition, the region is expected to have the highest compound annual growth rate during the forecast period at 10.6%.

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The global outdoor LED display market report includes in-depth analysis of major market players such as Barco, Daktronics, Inc., Galaxia Electronics, Electronic Displays Inc., Lighthouse Technologies Limited, Leyard, LG Electronics, Panasonic Corporation, Sony Corporation, and Toshiba Tektronix.

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Allied Market Research (AMR) is the full-service market research and business consulting division of Allied Analytics LLP, headquartered in Portland, Oregon. Allied Market Research provides unparalleled quality "market research reports" and "business intelligence solutions" for global enterprises and small and medium enterprises. AMR provides targeted business insights and consulting to help its clients make strategic business decisions and achieve sustainable growth in their respective market areas.

Pawan Kumar, CEO of Allied Market Research, is leading the organization to provide high-quality data and insights. We have established professional business relationships with many companies, which helps us to mine market data, thereby helping us generate accurate research data sheets and confirm that our market forecasts have the highest accuracy. Every piece of data presented in our published report is extracted through preliminary interviews with senior officials of leading companies in related fields. Our secondary data procurement method includes in-depth online and offline research and discussions with knowledgeable professionals and analysts in the industry.