Global Outdoor LED Display Market share to reach $22.4bn by 2024

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Global Outdoor LED Display Market to hit 22.4bn
by 2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Outdoor LED Display Market

• Outdoor LED display market share forecast to
  exceed USD 22.4 billion by 2024 according to a
  new research report by Global Market Insights,
  Inc.
• Growing inclination of established corporate
  brands to advertise products with LED displays
  will positively boost outdoor LED displays market
  size. Rising demand for billboards with wireless
  connections (for regularly changing content) and
  high resolution displays for scoreboards,
  hoardings, stadium screens, etc., will fuel the
  industry trends. Market players often engage in
  product innovation to be able to cater to
  corporate demands. For instance, Panasonic, which
  is already an official partner of the Rio 2016
  Olympics and the Rio 2016 Paralympics, recently
  announced that the company will supply large
  outdoor LED displays systems to the Live Site, an
  outdoor entertainment area in Rio de Janeiro, to
  enhance the audience experience of viewing the
  Games.

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Continued...

• LED displays are manufactured with the help of
  PCBs, PBBs, LED tiles, LED lights, data
  collectors, driver chips, cabinets, and back
  covers. With advertising gaining high ground for
  company expansion, corporations are vying with
  one another to advertise their product offerings
  in the best ways. This leads to high demand for
  OLEDs for stadiums, traffic signals, weather
  forecast, corporate events, cabs, and video
  walls.
• Technologically, OLEDs can be either individually
  mounted or surface mounted. Surface mounted
  outdoor LED displays industry is anticipated to
  increase at a CAGR of 26.5 over the period of
  2016-2024. This technology is gaining popularity
  over its counterpart due to high density and
  enhanced mechanical performance, and is slated to
  exhibit remarkable growth prospects in the coming
  years.
• Individually mounted technology contributed to
  more than 55 of the overall outdoor LED displays
  market share in 2015. This technology provides
  the benefits of bright displays, clarity, reduced
  heat generation, and longer lifespan, owing to
  which individually mounted outdoor LED displays
  industry will exhibit outstanding growth over
  2016-2024. High adoption by retailers and
  builders will further propel this market, which
  was worth USD 1.46 billion in 2015.

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Asia Pacific outdoor LED display market size, by
application, 2013-2024 (USD Million)

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Continued...

• OLEDs are gaining prominence globally due to
  their increased application scope. North America
  covered more than 19 of the overall revenue
  share in 2015, with U.S. being the key
  contributor, having covered more than 50 of the
  regional industry share.
• U.S. outdoor LED displays market will be valued
  for more than USD 2.5 billion by 2024, driven by
  growing implementation of LEDs across prime
  locations (Times Square and the Broadwalk). The
  deployment of interactive screens embedded with
  3D technology at bus and train stations and the
  demand for custom-made solutions will also fuel
  industry growth over 2016-2024.
• High infrastructural development coupled with the
  increased number of sporting events will act as
  the key drivers for China outdoor LED displays
  market, which registered a revenue of USD 1.18
  billion in 2015. India is emerging as a global
  sports hub, which will prompt the usage of
  outdoor LEDs for sporting events, stadiums,
  mobile panels, and billboard advertising. This,
  in turn will impel India outdoor LED displays
  industry growth over the years to come. Supported
  by India and China, APAC outdoor LED displays
  market, having recorded a revenue of more than
  USD 1 billion in 2015, will grow at a CAGR of 25
  over 2016-2024.

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Continued...

• Global outdoor LED displays industry is fiercely
  competitive and leading providers are
  continuously engaged in imperative strategies to
  gain an edge over one another. Increasing RD
  investments remain a prime growth tactic to
  enhance displays efficiency and readability. In
  addition, companies are striving to innovate
  products by increasing their longevity, internal
  capacity, and color displays.
• Speaking of color displays, outdoor LEDs can be
  segmented into tri-color, monochrome, and full
  color displays. Tri-color outdoor LED displays
  market is projected to increase at an annual
  growth rate of 22.3 over 2016-2024, driven by
  the high product deployment in scoreboards and
  perimeter boards. The full-color displays model
  depicts animated content, high quality images,
  and high quality videos. Powered by these
  excellent features, these models are being
  increasingly implemented across myriad sectors,
  thereby fueling full color outdoor LED displays
  industry size.
• OLEDs find extensive usage across numerous
  applications and advertising methodologies.
  Traffic lights contributed to more than 11.5 of
  the overall outdoor LED displays market share in
  2015. Driven by enhanced efficiency and low
  maintenance charges, outdoor LED displays
  industry from traffic lights is set to grow at a
  CAGR of 19 over 2016-2024, and will hit a
  revenue of more than USD 1.95 billion by 2024.

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Continued...

• Key players operating in outdoor LED displays
  market include Shenzhen Dicolor Optoelectronics,
  Leyard Optoelectronic, LG Electronics, Lighthouse
  Technologies, Barco NV, Sony, Toshiba, Electronic
  Displays Inc., Panasonic, Optoelectronics Inc.,
  and Daktronics.
• It is predicted that these conglomerates will
  also offer solutions for every stage of the
  process, right from designing to manufacturing to
  installation, and then the advertising to
  after-sales services. This strategy is likely to
  strengthen their global presence and diversify
  the service offering.

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