Global LED billboard market is expected to witness a massive growth with a staggering CAGR in the forecast period. An LED billboard is the huge kind of T.V. display that plays the moving advertisements, which is seen by the roadsides. Usage of LED billboards completely depends on the budget that has been allocated to spend on advertising and also on the market of the advertiser. Mentioning some examples – LED billboards are being integrated with some of the most well-known places such as Tokyo, New York’s Time’s Square and Las Vegas. The billboards that are used in advertisements for outdoors and indoors have a high resolution and better image quality.
Presently, the cost of LED billboards is decreasing and its technological advancements are increasing massively. This major factor is attracting more advertisers to use the LED billboards (also called digital advertising) in various areas, as they make a huge impact on the audience. The penetration of these LED billboards is also increasing with better pixel density and high-quality resolution, which is immensely driving the growth of the market as its demand is increasing.
Despite the numerous driving factors, the growth of LED billboards market is shrinking as these digital advertisings are considered to be a distraction because of the luminance and animation that holds the attention of the motorists and this becomes way too dangerous. But, the regulatory environment is much simpler when it comes to LED billboards and its new techniques are certainly anticipated that the LED billboard market will witness tremendous growth in the forecast period.
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The market is segmented on the basis of product (single base color LED billboard, double base color LED billboard, full color LED billboard); by downstream fields/application (indoor LED billboard, outdoor LED billboard) and by region (North America, Europe, China, Japan, India, Middle East & Africa, South America). Geographically, North America has been flourishing with its growth and is likely to dominate the LED billboard market in the near future well. In the near future, market will continue to come up with new innovations and techniques to attract new advertisers and investors, for them to continue the domination.
Some of the prominent players in the LED billboard market are Lopu, Yaham, Euro Display, Daktronics, FORMETCO, Watchfire, AOTO, Barco, Suncen, QSTech, Optech Display, Unilumin, Ledman, Mary, Teeho, Lighthouse, Sansitech, Liantronics, Absen, Leyard and Szretop. All the leading companies are including mergers and acquisitions, partnerships and joint ventures to enhance the growth of the market efficiently.
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