LED Billboard Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2026
- Transparency Market Research
An LED billboard is essentially a kind of huge TV which plays the moving advertisements by the road side. LED billboards are being enthusiastically incorporated in some well-known places, like New York's Times Square, Las Vegas and Tokyo. The usage of the LED billboards truly depends on the market of the advertiser and also the total budget which has been allocated for spending for advertising. The growth of the LED billboard market is highly reliant on the rising demand of higher resolution and better image quality electronic billboards that is being used for in advertisement for indoor and outdoor applications
Continuously decreasing price of the LED billboard with the advancement in the technology and increment in the manufacturing economy of scale is acting as a major growth driver for the LED billboard market. Therefore, the extended usage of digital advertising in more areas & increasing penetration of the billboards with better resolution and pixel density is also one of the key factor anticipated to catalyze the growing demand of LED billboards during the forecast period. In addition, growing demand for the greater image quality and intricate design is also anticipated to increase the demand of the LED billboards in the upcoming years. In turn this is also projected to affect the LED billboard market in a positive manner during the forecast period.
In spite of many driving factors, the LED billboard market is expected to show a shrink and fluctuation in growth rate because of the public outcry in the roads. Digital billboard are being considered as of being a distraction in comparison to their traditional counterpart because of the main fact that their animation and luminance might hold the attention of the motorists far more longer than the static billboard; this phenomenon is also acting as one of the major constraint for the LED billboard market. Higher cost of advertising when compared to other types of less expensive method of advertising like social media or print media marketing and risk of missing the key message of the advertiser because of the fact that the billboard moves constantly is also acting as restraining factor for the LED billboard market. Easier regulatory environment and new usages of LED billboards is expected to act as key opportunities for the LED billboard market.
For the purpose of doing in depth analysis, the LED billboard market has been segmented on the basis of product type, application and geography. Based on the product type the LED billboard market has been segmented into three categories those are small, medium and large. Based on the application, the LED billboard market has been segmented into two segments they are outdoor applications and indoor applications. Moreover, this report also provide cross functional analysis of all the above mentioned segment across different regions such as Europe, North America, Asia Pacific, Middle East and Africa and Latin America. By application, the outdoor application is expected to capture largest market share in the forecast period. Higher resolution with better quality of display and growing usage of LED billboards in the shopping malls is estimated to drive the sale of LED billboards for the outdoor applications. Geographically, the global LED billboard market is mainly driven by North America and APAC region. Significant increase in the usage of billboards in highways of U.S. after getting permission from Federal Highway Administration has been driving the market of LED billboards in North America.
Some of the leading players operating in the LED billboard market includes Barco NV. , Lighthouse Technologies , Leyard Optoelectronic , Barco NV , Shenzhen Dicolor Optoelectronics , Electronic Displays , Daktronics , Panasonic , Toshiba and LG Electronics among others.
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