Abbreviated as light emitting diode, LED uses an array of diodes to create video displays. As a flat panel display, LEDs are available in a number of sizes. They are multiple purpose and can be used indoors as well as outdoors in stores, billboards and signboards. LEDs are usually versatile and can be used in number of ways, be it public transport, transparent glass led display, formal and informal meetings.
Market Share of LED Display Screens
Here, the worth mentioning fact is that the market share of LED display screens is increasing day by day. Since people are earning more in terms of disposable income, their capacity to spend on luxurious items has significantly been increased. It is because of the rise in their disposable income that world’s LED market share is expected to experience its substantial growth from 2019 to 2027. Furthermore, technological advancements in LEDs has also brought revolution in the media industry where, the market leaders are discovering new and effective methods to communicate their messages to the public.
An in-depth analysis on the global demand and market share highlighted the fact that market players are the primary resource to brighten the future of LED display screens. Talking about the facets like drivers, challenges and developments, LED display market is expected to reach new heights in 2020 and afterwards.
LED Display Screens’ Market Segmentation
The market analysis of LED display screens depends upon the latest trends and market dynamics like industry news (investments, mergers or acquisitions of manufacturers), restraining factors and driving factors. The major elements of market analysis include market volume and value, growth rate with respect to types, quantitative and qualitative methods, macro and micro forecasts, market trends and most importantly, their applications in different countries or regions.
The market share of LED display screens has a lot to do with where and how they are used. Practically, there are two types of LED screens whose usage depends upon the type of market they belong to:
The selection of either type of LED display depends on its application. Buyers usually have to figure out where they want them to install and why.
Dominating Factors Behind Market Growth of LED Display
According the previous year’s statistics, LEDs have managed to grab a market size of around $7,500 million and is expected to raise even more by 2027, with CAGR rate of 11.4 percent from 2020 till 2027. But, the question is what are those elements or factors that has helped LED screens to become famous, leaving the LCDs behind in the race? Why are consumers willing to get LED display screens instead of LCDs? Let’s get into the details now:
The best part about outdoor LED screens is their versatility to be displayed wherever needed. They are particularly installed at airports and railways to display details about the operations so that visitors can get to know about everything conveniently. Furthermore, they are ideal for commercial advertisement, traffic boards, parking signs, and sport stadiums, where they have to display scores and other details in digital format, sponsor boards and bright arena display.
LED manufacturers used to recommend DIP mounting for outdoor applications because they are more reliable, robust and can stand still in harsh conditions. Also, since LEDs have low emission rate and small lead inductance, they have managed to dominate LCDs and other variants available in the market. When these LEDs are used in the transport and sports sector, they have to be compatible with other devices and gadgets at work so that dynamic data can be displayed easily for distant audience to see them clearly.
With increasing use of LEDs in ceremonies, seminars, exhibitions and events, the market growth of display screens is incredible. Advertising agencies are also using LED displays for various marketing strategies that not only enable them to work on poster-based advertising but can also work on over paper promotions. Furthermore, energy consumption also prompts their use, primarily because of power saving and high cost. In other words, LED displays are energy efficient and are capable of bringing significant difference in overall led display power consumption.
- Digital Advertising
Companies are focusing more on their media advertising campaigns and taking advantage of their maximum reach to the public. Considering that LED screens can be installed on video walls, billboards and with other combinations, advertisers are rest assured about getting customized display solutions and designs. With advance pixel modules and mobile integration with QR codes, more and more digital advertisers are using these outdoor LED displays.
- LED Encapsulation
According to the market analysis, LED encapsulation is expected to yield 13.52% of CAGR from 2018 to 2023. There are a number of companies who are the believers of LED encapsulation. But, what is meant by LED encapsulation?
Basically, it is a technique to cover LEDs with a protective layer so that they can withstand different environmental changes. With this protection layer, LED screens are capable of providing a number of operational benefits. This is another reason why the LEDs are growing in demand these days.
LED encapsulation is an important part of its packaging as it gives the final touch before delivering to the customer. With that being said, the growth of LED encapsulation is going parallel to the growing market share of LEDs across the world while both depend upon the technological advancements being carried out by the manufacturers.
With the help of this process, heat generation can also be identified and controlled in low to high power LEDs. The impact of this benefit is that it opens new doors for LED manufacturers to work harder and make their contribution in bringing the LED as well as LED encapsulation markets to the new level.
- Longer Life
With the help of LED encapsulation, the display screens are able to work for a longer time period than expected. They have emerged as an ideal option for the automotive industry, where high-tech cars need long lasting, encapsulated and highly efficient LED screens.SM
Even, based on the demand from different sectors to get a better and advanced version of SMDLED,DIP, technologists have come forward with the invention of OLEDs or Organic Light-Emitting Diodes that promise better performance and functionality for a significant time period.
The market share of LEDs display entirely depends upon their color display, application, types and geography. If any of the factors change, there will be a significant movement in the market share of the display screens. However, from 2019 and onwards, it is expected that LED market will reach its new height and there will come a time when the manufacturers will have advanced and more efficient versions of the LED screens that are available today.