In the recent past when the LED technology has been harnessed rigorously, the products are now being used for advertisement displays, indoor exhibitions and presentations, travel updates at airports and railway stations, and police control rooms. According to a recent business intelligence study by Transparency Market Research, the demand in the global LED video walls market will expand at a notable CAGR of 8.1% during the forecast period of 2017 to 2025. The analysts of the report have estimated the opportunities in this market to translate into a revenue of US$3,882.9 mn by the end of 2025, significantly up from its evaluated worth of US$1,967.2 mn in 2016.
Which market segments are performing well?
On the basis of service type, the TMR report has segmented the global LED video walls market into repairing and maintenance, installation, and rental. Since the cost of new products are still quite high, the rental service segment is currently providing for more than 53% of the total demand. By renting the products, the consumers are able to opt out of options desired by their needs.
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Which region is showing a greater potential of demand?
If the evaluations of the TMR report are to be believed, Europe provided 32.0% of the total demand in the global LED video walls market. On the other hand, North America and vastly populated Asia Pacific are expected to turn into highly profitable region in the near future too.
LG Display Co., Ltd., Panasonic Corporation, Leyard Optoelectronic Co., Ltd., NEC Corporation, Delphi Display Systems, Inc., Toshiba Corporation, and Electronic Displays, Inc. are some of the notable players currently ahead of the curve in the global LED video walls market. The competitive landscape is currently quite consolidated among the market leaders, which is a reflection of continuous innovation by these players.