Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “LED Molecular Display Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020-2027”
LOS ANGELES, May 26, 2021 (GLOBE NEWSWIRE) -- The Global LED Molecular Display Market is expected to grow at a CAGR of around 13.5% from 2020 to 2027 and reach the market value of over US$ 7,658.5 Mn by 2027.
The European Union has the largest revenue share of the global molecular LED display market. This is primarily due to increased demand from DOOH advertising projects that drive market growth. Furthermore, there has been an increase in advertising projects combined with technologies, particularly in European regional markets such as the United Kingdom, Germany, Belgium, Italy, and other neighboring countries.
Asia Pacific, on the other hand, is expected to grow at a reasonable CAGR in the coming years. The significant development of public venues, as well as the subsequent adoption of modern display technologies for advertising purposes, is driving factors for the overall growth of the global LED molecular displays market.
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Market Drivers
The growing use of LED modular displays in a variety of applications such as retail stores, airports/railways, media and advertising, sports and entertainment, auditoriums, and control rooms is expected to drive market growth over the forecast period. Furthermore, an increasing number of outdoor events, such as sporting events, music concerts, product launches, brand endorsements, and political gatherings, are using live video, traditional advertising, dynamic content, and social media advertising to promote their events. The demand for LED modular displays is expected to rise as a result of this. High investment costs and the complexities that arise during the installation of an LED modular display are the main hindrances to widespread adoption of the display, particularly in emerging economies. The cost of an LED modular display is influenced by factors such as display size, resolution, configuration, mounting type, and installation location (indoor or outdoor).
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COVID-19 impact on global molecular LED display market
The COVID-19 pandemic is expected to have a significant impact on the LED modular display market, as the global lockdown imposed to prevent the disease's spread has disrupted supply chains and manufacturing operations. The demand for LED modular displays has decreased significantly because public places are closed due to lockdowns, and no marketing activities are taking place at public venues. Nevertheless, demand for LED displays is expected to increase once the lockdown restrictions are lifted and public gatherings and outdoor events, such as conferences, sporting events, and concerts, resume.
Segmental Outlook
The global LED molecular display market is segmented into type and regions. By type, the market is classified into indoor modular screens and outdoor modular screens.
Based on type, outdoor modular screens segment accounted largest market share for the global LED molecular display market.
Competitive Landscape
The major strategies followed by the market participants are Product Launches and Partnerships.
The major players involved in the LED molecular display market involve SAMSUNG ELECTRONICS CO., LTD., SHENZHEN ABSEN OPTOELECTRONIC CO., LTD, Yaham Optoelectronics Co., Ltd., NEC Display Solutions, Baxter, Pro Display, Barco NV, Sony Group Corporation, and among others.
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Some of the key observations regarding LED molecular display industry include:
- In January 2020, Yaham announced launching of new series involving indoor screen, and sporting display, as well as fine pixel pitches products. These products include the Yaham X3 series panel, C0 series transparent screen, Yaham X3 series panel, Yaham P0 series, and R0 series. Yaham X3 series panel is extremely slim and lightweight. C0 series transparent screen can deliver vivid images or videos without any shadow.
- In February 2020, NEC Display Solutions, Europe announced launching of NEC Open Modular Platform for reinforcing its Open Modular intelligence (OMi) concept. This concept uses diverse computing hardware technologies with scalable performance-levels. This platform is the result of its partnership with signageOS. The platform’s open, modular approach is enabled by signageOS technology and delivers single code-based API access to connect to NEC hardware.
- In April 2019, Barco announced collaboration with Caresyntax. The collaboration strengthened the value proposition of both parties and accelerated the next level developments for the Nexxis digital platform. Alongside this partnership, Barco acquired a minority stake in Caresyntax by participating in the company’s recent round of growth equity financing.
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