Global LED Display Market: Overview
The disposable income of the people has increased exponentially in past few years. This has allowed the people to spend more on luxury such as advanced LEDs for entertainment. Due to the increase in the disposable income of the people the global LED display market is expected to witness a substantial growth during the tenure of 2019 to 2027. Moreover, growing technological advancements has revolutionized media industry which is also a major factor that is boosting the growth of global LED display market.
A recent report by Transparency Market Research offers in-depth analysis of the global LED display market during the tenure of 2019 to 2029. The report provides complete analysis of market so that players can make better decisions for a successful future in the global LED display market. The report covers facets such as challenges, developments, and drivers that are boosting the growth of global LED display market during the tenure of 2019 to 2027.
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Global LED Display Market: Competitive Analysis
The global LED display market is highly competitive and has a majorly fragmented scenario. The presence of several prominent players that have significant influence over the dynamics of global LED display market is the major factor responsible for this landscape of the market. However, due to this, new players are unable to enter and establish themselves in the global LED display market.
To overcome this scenario, the new players are resorting mergers and partnerships as their strategies. These strategies are designed to provide sufficient exposure the new players so that they can understand the dynamics of the global LED display market and make better decisions in the process. Moreover, these strategies also help the new players to gain access to resources that can ensure their sustainability in the global LED display market.
On the other hand, the prominent players are relying upon the strategies of acquisition and research and development. These strategies allow the players to develop new and innovative products that can ensure more customer engagement which shall further result in better growth of the businesses. Additionally, these strategies help the player to gain a competitive edge over the rivals and establish a stronghold over the dynamics of the global LED display market during the tenure of 2019 to 2027.
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Global LED Display Market: Key Drivers
Growing Demand for LEDs to Boost the Growth
LED is one of the most highly used products in domestic sectors these days. It is one of the most economic and effective entertainment media for the people. Owing to this, the demand for LEDs has increased exponentially during the tenure or 2019 to 2027. Owing to this demand, the global LED display market is expected to witness a substantial growth during the tenure of 2019 to 2027. Moreover, the growing disposable income of the people has allowed them to purchase new and advanced LEDs not just for home but for offices too, this is yet another factor that boosts the growth of global LED display market from 2019 to 2029.
Multiple Applications to Propel the Growth
The LEDs have multiple applications that they are effectively fulfilling. These applications come from different sectors and can range from entertainment to lightings. Owing to these application, the global LED display market is projected to grow exponentially during the tenure of 2019 to 2027.
Global LED Display Market: Regional Analysis
Asia Pacific is expected to grow exponentially in the regional front of global LED display market. This accelerated growth is the result of growing number of manufacturing companies in South Korea, China, and Japan. These countries have export business of billions are helping Asia Pacific to dominate the global LED display market from 2019 to 2027.
Light Emitting Diode (LED) display is a flat panel display that use light emitting diodes for the video display. An LED display consists of several display panels, each including large number of light emitting diodes for video display. Light emitting diodes used in LED displays offer several benefits as compared to other light emitting sources. For instance, high brightness offered by the light emitting diodes has allowed LEDs to be increasingly used in outdoor displays such as billboards, store signs, and digital name plates in transport vehicles. LED displays also offer illumination along with the visual display, as and when used for stage lighting or other decorative purpose.
The overall global LED market has witnessed robust growth in the recent years. The steady growth can be attributed to the rising awareness about energy conservation amongst end-users. With swift penetration of LED technology in backlights of LCD TVs, laptops, and monitors, the LED display market has witnessed increased investment in by manufacturers across the globe. Looking at the opportunistic growth in the overall LED industry, the number of new players entering the market are expected to swell in the next few years. To gain competitive advantage in this technology driven market, the players are striving to offer end-to-end solutions (manufacturing, installation, and after sales service) to their customers. Increasing investment in R&D by the global manufacturers has led to improvements in the LED technology. In addition, it has led to developments in manufacturing processes and packaging, which, in turn has resulted in gradual decline in the price of the technology.
Increasing demand for LED displays in outdoor advertisements is one of the major factors driving the market growth. Enhanced features such as energy efficiency, environment friendly, low operational cost, and durability have encouraged marketers and advertisers to use LED displays for outdoor promotional campaigns and advertisement. Furthermore, rising number of live concerts, sport competitions, and corporate exhibitions have further fueled market momentum. High initial cost of LED displays has somewhat inhibited the growth of the LED display market, especially in price sensitive economies such as China and India. However, with the advancements in technology, the prices of LED displays are expected to fall, thereby minimizing the impact of this challenge over the forecast period. Europe and North America collectively accounts for the major chunk of the market revenue. However, over the forecast period, Asia Pacific is expected to witness the fastest growth, majorly on account of infrastructural development and rising number of sport events expected in emerging economies such as China and India.
The Light Emitting Diode (LED) display market is segmented on the basis of types, applications, color display, and geography. The LED Display market is segmented on the basis of its types into two major categories, namely - conventional LED displays and surface mounted LED displays. On the basis of applications, the LED display market is segmented into two major categories, namely – backlighting and digital signage. The backlighting segment includes the application of LED displays for television, laptops, mobile and smartphones, and PC monitors among others. Similarly the digital signage application segment is further segmented into two major categories, namely – outdoor signage and indoor signage. On the basis of color display technology, the LED display market is segmented into three major categories including monochrome LED displays, tri-color LED displays, and full color LED displays. Furthermore, the LED display market is also segmented into four major regions, namely North America, Europe, Asia Pacific, and Rest of the World (Latin America, Middle East, and Africa). China and Japan are the major LED display markets in Asia Pacific.
Some of the key players in the LED display market include Barco N.V. (Belgium, Sony Corporation (Japan), Panasonic Corporation (Japan), LG Electronics, Inc. (South Korea), Daktronics, Inc. (U.S.) Toshiba Corporation (Japan), Samsung LED Co. Ltd. (South Korea) others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.