Indoor LED Signage Market Witnesses the Demand for High-End Scoreboards and Replay Screens
Arizton’s recent market research report on the Smart indoor LED signage market identifies LG Electronics, Sharp, Panasonic Corporation, and Philips as the leading vendors that are likely to dominate the market during the forecast period. This research report provides a detailed analysis of market segmentation by screen size (less than 32, 32-35, and 55+), by end-user type (retail, corporate, public, sports, & others), and by geography (APAC, Europe, North America, Latin America, and MEA).
The indoor LED signage market is anticipated to reach revenues of approximately $2 billion by 2023, growing at a CAGR of more than 24% during 2017-2023.
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The indoor LED signage market is divided into three major segments that consist of screen size, end-user type, and geography.
Sports segment to grow at the fastest CAGR in the indoor LED signage market during the forecast period
The global indoor LED signage market by end-user type is classified into retail, corporate, public, sports, & others. Sports segment dominated less than 1/3rd of the total market share in 2017, growing at a CAGR of over 29% during the forecast period. The extensive use of digital signage in numerous sports stadiums, fitness centers, and gyms is driving the growth of this segment in the global market. The increasing focus on creating a unique experience for the players and people will drive the demand for innovative products in the market. These smart signage help create immersive environments that builds brand image, provide advertising, and informational messaging for people, and keep them coming back for more entertainment and fun.LED display units offer optimal visibility, color, and brightness under indoor lighting conditions in the global indoor LED signage market. The vendors are using these lighting systems to promote brands, sports products, and update about upcoming events in the market. The use of high-end LED scoreboards and replay scenes and focus on enhancing the usage of such signages and create distinctive customer experience and both inform and excites athletes will boost revenues in the global indoor LED signage market. These units also display next match schedules, weather forecasts, and traffic updates before leaving for and from the stadium.
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55+ screen size segment to grow at a significant CAGR in the indoor LED signage market during the forecast period
The screen size segment in the global indoor LED signage marketis segmented into less than 32, 32-35, and 55+. 55+ screen size segment occupied around 1/3rd of the market share in 2017, growing at a CAGR of approximately 28% during the forecast period. The growing demand for bigger display signage in indoor stadiums, airports signages, business conference, and eventsis propelling the growth of this segment in the global market. The airports, big movie screens, meeting and conferences, indoor stadiums, hotel lobby, are some of the best-suited locations for big screens in the global indoor LED signage market. The declining cost of sensors, which include silicon chips for data sensing, processing, and communication is one of the factors contributing to the growing demand for 55+ screens in the global market. Furthermore, the advent of IoT and Bluetooth smart devices rely on multiple sensors to monitor and track the environment and communicate the data will create lucrative opportunities for leading players in the market. The growing expansion and new construction of airports will also fuel the demand for such big screens signages in the global indoor LED signage market during the forecast period.
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APAC to grow at an impressive CAGR in the indoor LED signage market during the forecast period
The global indoor LED signage market by geography categorized into APAC, Europe, North America, Latin America, and MEA. APAC is the fastest growing region in the market, at a CAGR of around 28% during the forecast period. The exponential growth of the service industry, growing number of SMEs, increase in duty-free retailing, and rapid infrastructural development are some of the major factors attributing to the growth of the APAC region in the global indoor LED signage market.India and China are the largest revenues generators in the APAC market. The growing fashion retailing and increasing number of convenience store will fuel the demand for smart signages in the region. The rising construction of shopping complexes, business park, schools, healthcare, subways, airports, and indoor stadiums will propel the demand for smart LED signages in the APAC region in the global indoor LED signage market over the next few years.
The other prominent players operating in the global indoor LED signage market include NEC Display, Vestel, BenQ, IAdea, Toshiba, MetroPlusAds, Grandwellsmart display solutions, Firstouch solutions, INK Drops, and Tecnon Smart Display.
The complete overview of the latest market research report on the indoor LED signage market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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