Outdoor LED Display Market size worth $22.4bn by 2024

Ocean View, Delaware, Aug. 18, 2016 (GLOBE NEWSWIRE) -- Outdoor LED Display Market size is forecast to exceed USD 22.4 billion by 2024; according to a new research report by Global Market Insights, Inc.

Increased demand for sophisticated applications such as advertising boards, video walls, stadium screens, perimeter boards and scoreboards is anticipated to propel outdoor LED display market size from 2016 to 2024. Corporate brands opt for these devices owing to various benefits such as brightness, HD resolution, pitch, good pixel, durability, portability and energy efficiency.

Surface mounted technology is projected to grow with 26.5% CAGR from 2016 to 2024. Rising prominence of these devices may offer tough competition to conventional systems in the coming years. Advent of projector as well as LCD technology is anticipated to negatively impact demand. However, rising preference for energy efficient device, evolving screen dynamics and low operating costs may fuel Outdoor Led Screen market share for various advertisement and sports events.

Electronic signs used in billboards display multiple messages, and these messages can be changed either remotely or by programming the display on the site. Growing demand for electronic billboards over printed billboards with rising number of advertisements will be responsible for driving outdoor LED display market size. As the cost of billboards continues to decrease, growth in developing economies could boost sales significantly.

Advertising boards, stadium screens, perimeter boards, scoreboards, and Led Video Walls are set to witness growth. Higher awareness about the advantages of these panels, increasing high-tech infrastructure demand and rising number of sports activities will fuel mobile panels revenue.