The Global LED Modular Display Market size is estimated at USD 6.45 billion in 2020 and it is expected to reach 12.48 billion by 2027 at a CAGR 13.3%.
LED is known as light emitting diodes. The LED modular display allows any screen size or configuration to be created. The display innovations supplies, installs, and provide support and maintenance for digital LED screens. The LED modular displays are designed for indoor and outdoor use. The LED modular displays consist of flat panel display, which integrates the LEDs and the rest of the necessary electronics.
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The rise in the adoption of LED modular displays across various applications like Retail Stores, Sports and Entertainment, Media & Advertising, Airports/ Railways, and Auditoriums & Control Rooms is expected to propel the global LED modular display market. Also, the rise in the number of outdoor events like sports, music concerts, brand endorsements, and political assemblies will positively influence the LED modular market growth over the forecast period. Furthermore, an increase in adoption of advanced technologies such as artificial intelligence, machine learning, big data, and augmented reality to increase customer engagement is expected to fuel the market growth. For instance, retail stores use interactive displays which enable customers to try on dresses virtually.
The huge initial investment expected to hamper the global LED modular display market growth. Also, the rise in COVID 19 pandemic is expected to have a negative impact on the LED modular display market. As the many governments announced lock down to avoid spread of COVID 19 has disrupted the supply chain and manufacturing operations across the globe, The demand for these displays has reduced considerably as public places are closed due to the lock downs.
The Global LED Modular Display Market is segmented on the basis of type such as Indoor modular screens, and Outdoor modular screens. On the basis of application market is segmented into Retail Stores, Sports and Entertainment, Media & Advertising, Airports/ Railways, and Auditoriums & Control Rooms. Further, Global LED Modular Display Market is segmented on the basis of five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Some key players are profiled in this report including Sony Corporation, Samsung, Yaham Optoelectronics Co. Ltd, NEC Display Solutions, Prismaflex, Planar, PixelFLEX, Pro Display, Barco, and SHENZHEN ABSEN OPTOELECTRONIC CO., LTD.
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