According to the Market Statsville Group (MSG), theglobal rental outdoor LED display market size is projected to register a CAGR of 5.5% during the forecast period. The rise in sports events & exhibitions, seminars, ceremonies, and other such events drive the growth of rental outdoor LED displays in the market. In addition, outdoor LED displays offer a viable source of displaying dynamic data, which is easier to manage as compared to hard data, and flexibility to implement prompt changes in the displays during the events. These factors are projected to increase the demand for rental outdoor LED displays.
The outdoor LED displays provide several inbuilt features such as exceptional readability, light in a much narrower spectrum compared to the other illumination sources, energy efficiency, minimum operational price, and long life. These are expected to reduce electronic power losses and increase the competent usage of rental outdoor LED displays in the market.
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Global Rental Outdoor LED Display Market Definition
The rental outdoor LED display is an outdoor LED display that is available for rent on a short-term or long-term basis. Outdoor LED displays for rent are in high demand these days because they provide the best possible brightness and are becoming more popular as a result of these features.
The study categorizes the rental outdoor LED display market based on type, application, rent duration, end-use, and LED size at the regional and global levels.
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Based on the application, the market is bifurcated into billboards, mobile LED displays, perimeter boards, traffic lights, video walls, and others. In 2021, billboards had the largest market share in the global rental outdoor LED display market. Billboards are large electronic outdoor displays that are placed in high-traffic areas such as busy roads, shopping mall rooftops, and residential buildings. Commercial billboard advertising is becoming one of the most popular trends in the market, with numerous designs for displaying advertisements on billboards. Unlike their print counterparts, which can only display one advertisement at a time, billboards can display multiple advertisements at the same time, resulting in increased market growth.
Asia Pacific accounts for the highest CAGR during the forecast period
Based on the regions, the global rental outdoor LED display market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Globally, Asia Pacific is estimated to hold the highest CAGR in the global rental outdoor LED display market during the forecast period. Due to the increased population in Asia-Pacific, billboard displays account for the largest share of the rental outdoor LED display market, resulting in large crowds for billboards placed on the sides of roads, buildings, and other areas. Mobile LED displays, on the other hand, have gained a strong market foothold because they allow for viable door-to-door advertising in this densely populated region.
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Most companies in the market are focused on expanding operations across regions, augmenting their capabilities, and building strong partner relations. Major players in the global rental outdoor LED display market are: