The rising adoption of digital technologies such as smartphones, voice-controlled devices, internet TV, and smart digital signage will revolutionize the global indoor signage market. The digital revolution is changing the way consumers behave and engage with companies globally serving them. Due to the fact that companies are striving to use attractive, bright, eye-catching advertising displays and billboards, the outdoor LED display market promises to remain a highly profitable business in the near future.

In order to attract an audience and remain among the first, despite the strong competition, companies are increasingly turning to LED billboards, LED perimeters and a scoreboard for marketing both themselves and their products and services. The exponentially growing demand for high-resolution wireless signage and billboards will also help push the outdoor LED display market.

According to the new report by Grand View Research, Inc. in 2016, this market was valued at more than 3.5 billion US dollars, and by 2022 it is expected to be 12-14 billion dollars. The experts believe that the global market for intelligent LED signs in indoor spaces alone will bring about $ 2 billion by 2023, increasing by an average of 24% during 2018–2023.

Recognizing the potential of LED screens and the impact that they have on the audience, companies operating in the global LED screen industry strive to develop innovative products that characterize longer shelf life and improved capacity. Key companies producing LED screens include Panasonic, Barco, LG Electronics, Shenzhen Dicolor, Leyard Optoelectronics, Toshiba, Sony, Daktronics and Lighthouse Technologies.

LED displays are now being increasingly deployed across the globe for sporting events, in stadiums and playground arenas, for advertising big-shot events and products, taxi ads, and even kiosk advertisements. With customer expectations reaching an all-time high, companies are using LEDs to brand themselves across myriad regions. For instance, U.S. outdoor LED display market is anticipated to be worth USD 2.5 billion by 2024, subject to the increasing deployment of LED technology for outdoor advertising in commercial zones such as the Boardwalk and the Times Square. Having held more than 50% of the regional outdoor LED display industry in 2015, this market is expected to grow significantly owing to the huge demand for personalized advertising solutions.

The entertainment sector, in the past few years, has been thriving solely by virtue of outdoor LEDs. These devices are being used for applications such as interactive floor displays and video walls for sports halls, multiplexes, gaming arenas, casinos, hotels, theme parks, and malls. The increasing usage of LED advertising for such popular commercial entertainment zones will impel outdoor LED display industry globally.

The countries of the Asia-Pacific region have recently been organizing mass sports events, building new sports arenas with giant LED screens. Estimated at about $ 1 billion in 2016, this regional market also shows exponential growth in the infrastructure sector, which in the coming years will lead to widespread demand for LED products. China, Taiwan and Korea broke into leading positions in the production of LED screens of all types and forms, not only for their region, but also practically of the whole world.

In short, the crisis has a negative impact on many industries, but clearly it failed to cripple the field of digital LED advertising, which is becoming increasingly attractive outwardly and profitable economically.