Rise in the demand for LED video walls for different types of sports events is fueling revenue growth in the market
Wilmington, Delaware, United States, June 20, 2022 (GLOBE NEWSWIRE) -- A review by Transparency Market Research (TMR) projects the global LED video walls market to register growth at a CAGR of 11.3% during the forecast period, 2022-2031.
Based on the service type, the demand for installation type LED video wall is being increasing in the recent years owing to surge in the use of LED video walls in different applications including sports, education, and hotel & restaurants. This service type is gaining traction as it offers ease in brand communication, helps in fulfilling requirements of private and corporate event clients, and utilizes approximately 30% less energy in sports bar using direct-lit LED technology. This, in turn, is creating profitable prospects in the LED video walls market, notes a study by TMR.
The demand for installation types LED video walls is being increasing owing to increasing utilization of digital advertising strategies by companies from different e-commerce companies including Adidas, Nike, Zara, H & M, MAC Cosmetics, and NYX Cosmetics in order to increase their sales. Owing to such factors, the LED video walls market size is estimated to expand at promising pace and gain a value of US$ 53.4 Bn by 2031.
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LED Video Walls Market: Key Findings
Outdoor LED display video wall manufacturers around the world are gaining prominent sales prospects owing to different features of these products including high brightness, sturdy designs, energy saving and water resistant nature, and finer pixel pitches for outdoor. Thus, rise in the adoption of outdoor LED screens is resulting into profitable prospects for the outdoor LED display video wall manufacturers.
LED video walls are gaining traction owing to their ability to offer high-definition visuals and withstand in challenging outdoor conditions. Moreover, the product is being increasingly adopted as they are available in varied resolutions, sizes, and technologies, which can fulfill different applications needing lasting viewing experience and sharp visual. Hence, rise in the demand for these products is creating sizable business opportunities for LED video wall manufacturers & suppliers.
LED Video Walls Market: Growth Boosters
The demand for LED video walls is being increasing owing to their utilization in different sports events such as Olympic Games, FIFA World Cup, Cricket World Cup, and The UEFA Champions League
Increasing adoption of digital advertising by varied e-commerce companies is driving the sales growth in the LED video walls market
Rising focus of manufacturers on the development of environmental-friendly products is expected to play key role in the future market growth
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LED Video Walls Market: Regional Analysis
North America is estimated to continue its prominent position in the LED video walls market during the forecast period owing to factors such as rise in the demand for LED video walls and indoor & outdoor types across the region
The market is projected to gain sizable sales opportunities in the Europe and Asia Pacific regions owing to increase in the use of these products from the education, sports, and retail industries of these regions
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LED Video Walls Market: Key Players
Some of the key players profiled in the report are:
Shenzhen Unilumin Group Co. Ltd
Shenzhen Dicolor Optoelectronics Co Ltd.
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LED Video Walls Market Segmentation
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