What are the current trends shaping the outdoor LED screen industry in 2023

The outdoor LED screen industry is experiencing significant growth in 2023, with a compound annual growth rate (CAGR) of 15.9% from 2023 to 2030. This expansion can be attributed to the increasing demand for digital advertising and the rising popularity of large-scale events. In terms of market size, it was valued at USD 72,369 million in 2022 and is projected to reach USD 1,452.24 million by 2030, registering a CAGR of 9.10%. The Asia Pacific region, in particular, is seeing a growing outdoor LED display market size, with a CAGR of nearly 25% from 2016 to 2024, due to the increasing number of sports activities and infrastructural development in emerging nations such as India.

As for trends, the outdoor LED screen industry is seeing a surge in demand for LED displays in various outdoor markets, including sporting venues, concerts, advertising, and houses of worship, among others. With the advent of new augmented reality and virtual reality technology, businesses are investing in LED technology to create more experiences and interactions with potential customers. Additionally, the market is witnessing a growing need for wireless data connections for billboards that are ideal for high-volume pedestrian areas. The report also notes the analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disrupters. Overall, the outdoor LED screen industry is poised for growth and innovation in the coming years.