QY Research has released a latest report, titled “Global LED Billboard Market Report, History and Forecast 2014-2025, Breakdown Data by Manufacturers, Key Regions, Types and Application.” The report discusses the future of the market in relation to the drivers and restraints. Researchers have used primary and secondary research methodologies to determine the course this market is likely to take in the forecast period. In addition, analysts have evaluated the segments in the market that are expected to dominate in the coming years. The research report gives a comprehensive overview of the market that aims to be the guiding hand for making lucrative business decisions.
According to the research report, the global LED billboard market was worth US$3,102 mn in 2018 and is likely to reach US$5,166 mn by the end of 2025. During the forecast years of 2019 and 2025, the global market for LED billboard is expected to register a CAGR of 7.52%.
Global LED Billboard Market: Drivers and Opportunities
LED billboards have become a regular fixture in cityscapes, illuminating signs, advertising, and branding big companies. Rise in demand for advertising and branding is expected to favour market’s growth in the coming years. Swelling budgets for outdoor advertising are projected to improve the sales for LED billboards in the coming years. The global market for LED billboard is also expected to rise in the coming years due to the improving affordability. In addition, rise of manufacturing activities in emerging economies, such as Asia Pacific, is also projected to favour market growth during the forecast period. Growing demand for better image quality, growing investments in advertising and branding, and technological advancements are expected to propel growth for the global LED billboard market.
On the flip side, the global LED billboard market faces certain restraints. The growing efforts to reduce road accidents is expected to restrain the market growth in the coming years. LED billboards are considered as distractions for drivers and riders, which can lead to accidents. This factor is projected to hamper market growth.
Global LED Billboard Market: Segments
The global LED billboard market is segmented on the basis of product and application. On the basis of product, the market is segmented into single base color LED billboard, double base color LED billboard, and full color LED billboard. The applications of LED billboards are seen in indoor and outdoor.
Global LED Billboard Market: Regional Segments
Geographically, the global LED billboard market is segmented into South America, Europe, North America, and the Middle East and Africa. Analysts anticipate that North America and Asia Pacific are expected to lead the way for the global market during the forecast period. Rise in highway advertising is expected to drive the North America LED billboard market. On the other hand, emergence of advertising industry in developing economies of India and China are expected to keep Asia Pacific market in the lead.
Global LED Billboard Market: Competitive Landscape
Some of the leading players operating in the global LED billboard market are Daktronics, Unilumin, Absen, Liantronics, Barco, Watchfire, Leyard, Lighthouse, Sansitech, AOTO, Ledman, and Lopu.
Full Report Overview@ https://www.qyresearch.com/index/detail/1090460/global-led-billboard-market