Growing tourism across the globe to benefit the LED video wall market at a CAGR of 6.2% CAGR by 2032
Absolute Dollar Growth of LED Video Wall Market Expected to be US$2.5 Billion
SEOUL, SOUTH KOREA, May 25, 2022 /EINPresswire.com/ — The global LED video wall market is expected to reach US$5.4 billion during the forecast period from 2022 to 2032 while growing at a CAGR of 6 .2% over the period . The expansion of the market can be attributed to the increase in tourism across the world. Moreover, the mode of advertising has also changed from conventional methods to digital media.
Continuous technological advancement and increasing integration of LED video walls with AI to deliver HD quality visuals. There has been a significant growth in LED video walls with augmented reality (AR) at bus stops, train stations and airports. Additionally, several clothing stores use advanced interactive displays to allow users to try on the dress without physically trying it on. Advancements in technologies such as; big data, machine learning and AI have provided innovative methods and improved the adoption of LED video walls.
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The transportation industry is expected to be one of the biggest consumers of outdoor LED video walls. LED video walls are in high demand from bus stops, airports and train stations. Orlando International Airport has installed a 700-screen video wall that provides check-in, cinematic video, updated flight details and location search via the Automatic People Transfer (APM) system and the north terminal.
Main lessons from the market study:
The global LED video wall market will be worth US$2.8 billion in 2021
The market is expected to secure US$3 billion in 2022
By installation segment, the outdoor segment leads the market with a CAGR of 6.1% from 2022 to 2032
By service segment, rental segment will see a CAGR of 7.6% during the forecast period
The market is American for a value of 1.1 billion US dollars by 2032
The market in the United States is expected to grow at a CAGR of 4.5% from 2022 to 2032
The market in the UK is expected to bring in US$432.2 million by 2032
The Indian market will be worth US$323.6 million from 2022 to 2032
“Rising demand for large screens in the entertainment and gaming industry, increasing internet penetration and rapid digitization are expected to drive the demand for efficient indoor LED video walls in the coming times.”
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In April 2022, Oregon-based Planar, a leading viewing technology provider, unveiled plans to prepare a diverse portfolio of broadcast technologies being rolled out at NAB 2022. The player will illustrate the modern evolution of demands broadcast production. It will range from state-of-the-art fine-pitch LED display solutions for on-camera virtual production to state-of-the-art motion capture (Mocap) solutions for precise camera tracking. NAB 2022 also marks the first NAB show since Planar Studios launched in 2021.
In January 2020, LG Business Solutions USA launched two new 55-inch LCD video wall panels featuring a 0.44mm bezel for virtually seamless video wall installations and a new built-in smart calibration tool that reduces time 97% maintenance and installation time.
More valuable information
Fact.MR in its new offering presents an unbiased analysis of the global LED Video Wall Market showcasing historical analysis from 2015 to 2021 and forecast statistics for the period 2022-2032.
The study reveals critical insights based on installation type (indoor, outdoor), service (installation, repair/maintenance, rental), and region (North America, Latin America, Asia-Pacific, Europe, Middle East and Africa).
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Key segments profiled in the global LED video wall market
Global LED Video Wall Market by Installation Type:
Indoor LED Video Walls
Outdoor LED Video Walls
Global LED Video Wall Market by Service:
LED video walls per installation
LED video walls by repair/maintenance
Rental LED Video Walls
Global LED Video Wall Market by Region:
LED video walls in North America
LED video walls in Europe
Asia-Pacific LED Video Walls
LED video walls in the Middle East and Africa
LED video walls in South America
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