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.
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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.
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