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The global light emitting diode (LED) video walls market is projected to reach USD 36.16 Billion by 2026, exhibiting a CAGR of 10.9% during the forecast period. According to Fortune Business Insights, in a published report, titled, “LED Video Walls Market Size, Share & Industry Analysis, By Type (Direct View LED Video Walls, Indoor LED Video Walls, and Blended Projection Video Walls Systems), By Location (Indoor, Outdoor), By Application (Retail, Airport/Railways, Control Rooms, Media & Advertising, Sports & Entertainment, Auditorium, Commercial Buildings, and Others), and Regional Forecast, 2019-2026,” the market was valued at USD 15.91 Billion in 2018. Advancement in technologies, such as big data analytics, machine learning, and artificial intelligence (AI) are resulting in the market growth.
LED video walls are astounding multi-screen setup containing multiple LED video screens, tiled together closely to form a single large screen. They provide several features, such as reliability and top-quality brightness. They are also capable of producing stunning visuals. At present, LED video walls are considered to be one of the most remarkable and attractive modern marketing tools. They offer a high degree of clarity, resolution, and sharpness that makes it visible even in direct sunlight, without distorting the quality. A rise in the adoption of display systems for commercial activities and the increasing demand for energy-efficient displays are two of the major global market growth drivers.
Increasing Demand for Energy-efficient Electronics to Drive Global Market
A rise in the penetration of LED video walls in the media and advertising sector is one of the key LED video walls market trends. LED video walls have been exhibiting large-scale adoption in public areas, such as airports, stations, and shopping malls. Moreover, the increasing number of outdoor events, namely sports, political assemblies, product launches, and other programs are few of the significant factors fueling the demand for LED video walls across the world. Combined with this, growing demand for energy-efficient and sustainable electronic products as well as low power density products will contribute to the market growth.
Rising Deployment of Interactive Display Units to Favor Growth in Asia Pacific
Regionally, the global LED video walls market is grouped into Latin America, the Middle East and Africa, Europe, Asia Pacific, and North America. Out of these regions, Asia Pacific is expected to hold the leading share in the global market during the forecast period followed by North America and Europe. North America had acquired a revenue of USD 3.70 Billion in the year 2018. Increasing adoption of modern methods of communicating with the consumers is one of the major reasons that is expected to propel the market in this region. Organizations are utilizing video walls in public places, namely, retail stores, airports, railway stations, bus stops, and museums to attract the consumers.
The LED video walls market in Asia Pacific, on the other hand, is projected to rise at the highest CAGR over the forecast period. It would occur due to a rise in the deployment of interactive display units by using virtual reality and augmented reality. In emerging countries, such as China, India, and Japan, retailers are shifting their interest in installing LED video walls to present information and advertisements uniquely to gather public’s attention. It would help them in keeping up with the ongoing competition. In Japan, China, and South Korea, for instance, video walls are installed outside buildings to showcase innovative advertisements.
Fortune Business Insights profiles some of the renowned market players leading the global LED video walls market. They are Cetech, SAMSUNG, Toshiba Corporation, Panasonic Corporation, LG Electronics, Barco, ViewSonic Corporation, Leyard Optoelectronic Co., Ltd., NEC Display Solutions, Lighthouse Technologies Limited., Primeview, and other key market players.
Browse Complete Report Details: https://www.fortunebusinessinsights.com/industry-reports/led-video-wall-market-100858
The global LED video walls can be segmented on the bases of:
Value (USD Billion)