India Outdoor LED Display Market, By Technology (Individually Mounted, Surface Mounted); By Display (Monochrome Display, Tri–Color Display, Full Color Display); By Application (Billboards, Video Walls, Perimeter LED Boards, LED Matrix Board, Traffic Lights); By Mode of Sales (Offline, Online); By Region (North India, South India, East India, West India), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
India Outdoor LED Display Market Set to Boom at Robust CAGR of 15.46% During 2023–2029
India outdoor LED display market is flourishing because of the growing advertising industry and declining LED display costs.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India outdoor LED (light emitting diode) display market to expand at a CAGR of 15.46% during the forecast period between 2023 and 2029. Major growth drivers for the India outdoor LED display market include an increasing adoption of digital advertising and the shift from traditional static displays to dynamic and interactive LED displays. Advertisers are attracted to the attention-grabbing capabilities and versatility offered by outdoor LED displays. Also, the rapid urbanization and infrastructural development in India have created a demand for modern advertising and information dissemination methods. Outdoor LED displays cater to this need by providing a flexible and eye-catching medium to communicate with large audiences. The reduced prices of LED display technology and advancements in display quality have also played a vital role in market expansion. As the prices become more affordable, more businesses and organizations can invest in outdoor LED displays, leading to deepening market penetration. Several smart city initiatives are being implemented across India. One notable aspect of these initiatives is the implementation of smart street lighting, which is considered an excellent starting point, due to its potential for energy and operational cost savings. However, the high initial investment and limited display regulations are anticipated to restrain the overall market growth during the period in analysis.
India Outdoor LED Display Market – Overview
The India outdoor LED display market refers to the industry segment that encompasses the manufacturing, distribution, and deployment of LED (light-emitting diode) display systems designed for outdoor applications. Outdoor LED displays are electronic display panels or screens that utilize LED technology to showcase dynamic and visually engaging content in various outdoor settings. These displays are commonly used for advertising, brand promotion, information dissemination, and entertainment purposes in public spaces, transportation hubs, sports stadiums, billboards, and other outdoor environments. The India outdoor LED display market involves the production of LED display modules, the development of control and management systems, as well as the integration and installation of complete LED display solutions for commercial, institutional, and public use. This market segment also includes related services such as maintenance, support, and content management for outdoor LED display installations. It is expected that the nation will experience a decline in energy consumption of approximately 15–32% by 2025 as a result of implementing LED lighting systems. This reduction in energy usage will be facilitated by the replacement of outdated process equipment and other devices, leading to additional cost savings in energy expenditures.
Impact of COVID-19 on India Outdoor LED Display Market
COVID-19 pandemic adversely affected the India outdoor LED display market. The restrictions imposed during lockdowns and social distancing measures had resulted in a decline in outdoor activities and a decrease in footfall in public spaces. Consequently, there was a reduced demand for outdoor advertising, leading to the postponement or cancellation of many planned campaigns and events. Disruptions in the supply chain and manufacturing slowdowns also affected the availability and delivery of LED display components. However, as the economy gradually recovered and restrictions were lifted, the market started showing signs of recovery with the resumption of outdoor advertising activities and increased investments in digital signage solutions.
India Outdoor LED Display Market – By Display
Based on display, the India outdoor LED display market is divided into Monochrome Display, Tri-Color Display, and Full-Color Display segments. The full-color display segment is expected to dominate the market during the forecast period. A full-color display is an electronic billboard or sign comprising an array of light-emitting diodes that emit a wide range of hues. The advantage of a full-color display lies in its ability to render realistic and high-quality images, making it ideal for environments where visibility is critical, including those with indirect sunlight. However, full-color displays may incur higher costs and maintenance challenges compared to monochrome or tri-color displays. Meanwhile, the tri-color segment is expected to witness the fastest growth rate during the forecast period. Tri-color displays are commonly used in outdoor advertising, public education, and entertainment. They offer the advantage of producing vibrant and attention-grabbing images, making them well-suited for environments that require high visibility, even in direct sunlight. Nonetheless, tri-color displays may entail higher costs and maintenance complexities when compared to monochrome displays. Tri-color LEDs are typically employed as indicator lamps that indicate three different statuses or conditions.
Major players operating in the India outdoor LED display market include Samsung Electronics, Sony Corporation, LG Electronics, Daktronics, Barco, Panasonic Corporation, Absen, Leyard, and Unilumin. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of India Outdoor LED Display Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in India Outdoor LED Display Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.