The global LED modular display market size is expected to reach USD 12.59 billion by 2027, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 13.2% during the forecast period. The increasing need to display multiple information coupled with the upcoming outdoor events across the developed and emerging economies is expected to drive overall market growth. LED modular display is a flat panel display that integrates the LEDs and the rest of the necessary electronics, that are used as video wall or large format display. They are predominantly used for outdoor and indoor applications such as retail, outdoor sports, and public spaces. Thus, increasing adoption of LED modular displays across several applications such as retail stores, media, and advertising, airports/ railways, sports and entertainment, control room, and auditoriums, among others, will fuel the market growth.
Due
to the COVID-19 pandemic, the demand for LED modular displays declined in 2020.
However, in the forthcoming years, the demand is expected to increase owing to
the resumption of public gathering, outdoor events, sporting events, and
business conferences, among others. In July 2020, Shenzhen Absen Optoelectronic
Co., Ltd.’s 350-sqm LED displays were deployed at the Dubai World Trade Center
for the Dubai Summer Conference. The Ai Everything x Restart Summer conference
was the first live in-person global event that was organized after the COVID-19
pandemic. The LED displays included a hanging display and a massive stage
backdrop to maximize the presentation and create an immersive environment in
the exhibition space.
The
Asia Pacific regional market is estimated to expand at the highest CAGR over
the forecast period. Retailers operating in Japan, South Korea, and India,
among other Asia Pacific economies, are keen on installing large LED display or
video walls for advertising purposes and installing such displays outside the
retail outlets to attract more customers. Besides, the shipments for LED
modular displays are expected to increase in 2021 as the country prepares for
the Olympic Games.
Full Research Report On LED Modular Display Market Visit Here:
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LED Modular Display
Market Report Highlights
- The indoor modular display
segment is projected to expand at the fastest CAGR of 13.6% over the
forecast period owing to rising demand for installation in venues, such as
indoor arenas, retail stores, hotels, and restaurants
- The European market held the
largest share in 2019 as the region has massive adoption of LED modular
display technologies in economies such as Germany, Italy, and Belgium
- The large market players are
continuously pursuing various initiatives to develop and manufacture large
LED modular displays for indoor and outdoor applications
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LED Modular Display
Market Segmentation
Grand View Research has segmented
the LED modular display market on the basis of type and region:
LED Modular Display
Type Outlook (Revenue, USD Million, 2016 - 2027)
- Indoor Modular Screens
- Outdoor Modular Screens
LED Modular Display
Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- The U.S.
- Canada
- Europe
- Germany
- The U.K.
- Asia Pacific
- China
- India
- Japan
- Rest of the World (RoW)
List of Key Players
of LED Modular Display Market
- Samsung
- SHENZHEN ABSEN OPTOELECTRONIC
CO., LTD
- Yaham Optoelectronics Co.,
Ltd.
- NEC Display Solutions
- Prismaflex
- Planar (Leyard)
- PixelFLEX
- Pro Display
- Barco
- Sony Corporation
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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