(MENAFN- America News Hour)Kenneth Research has recently added a report titled Global LED Stadium Screens market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021-2024. Global LED Stadium Screens market is further anticipated to grow with a CAGR of 6.9% during the forecast period. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
LED Stadium Screens Market Overview
LED screens are installed in stadium for better viewing experience and for advertisement purpose also. These screens are made up of number of video screens assembled together to make a giant size stadium screen. LED stadium screens are used in both indoor and outdoor stadiums. Generally, LED screens used in indoor stadiums have screen resolution P6, P8 and P10 and in outdoor stadium the LED screens have resolutions P8, P10 and P16.
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Market Size & Forecast
Global LED stadium screens market is anticipated to flourish at a compound annual growth rate (CAGR) of 6.9% over the forecast period 2017-2024. Global LED stadium screens market stood at a valuation of USD 1.2 Billion in 2016 and is anticipated to reach at a valuation around USD 2.0 Billion by the end of 2024. Rising number of stadiums and live concerts are some of the major factors driving the growth of .
''Final Report will add the analysis of the impact of COVID-19 on this industry.''
In terms of region, global LED stadium screens market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. LED stadium screens market of Europe region stood at a valuation around USD 402.4 Million in 2016. In terms of share, Europe is the biggest market of LED stadium screens among all regions and accounted for about 37% of overall LED stadium screens market share. Moreover, market of LED stadium screens of Europe region is expected to continue its dominance over the forecast period. Large number of stadiums and consumer's inclination towards live shows & concerts in Europe region are some major factors driving the growth of market of LED stadium screens in this region.
By share, North America region is second biggest market for LED stadium screens and is anticipated to witness a remarkable growth over the forecast period. Apart from this, Asia-Pacific region is anticipated to be fastest growing market of LED stadium screens over the forecast period. Rising number of stadiums and increasing disposable income of consumers are some major reasons driving the growth of LED stadium screens market in Asia Pacific region. Latin America and Middle East & Africa regions are also anticipated to witness a satisfactory growth during the forecast period.
Key Players
LG Display Co. Ltd.
NEC Corporation
Delphi Display systems Inc.
Panasonic Corporation
Shenzhen Dicolor Optoelectronics Co Ltd.
Shenzhen Unilumin Group Co. Ltd.
Toshiba Corporation
Lighthouse Technologies Ltd.
Electronic Display Inc.
Daktronics
Barco
Mitsubishi Electric
Abse
Scope & Context
Growth Drivers & Challenges
Expansion of stadiums in the terms of size and population capacity is springing the installation of LED screens in stadiums. Increasing live events and concerts in stadiums have attracted the consumers towards it which further propels the growth of LED stadium screens market. Apart from this, many government initiatives for the promotion of LED products are driving the growth of LED stadium screens market.
Use of LED stadium screens for advertisement purpose is also anticipated to push stadiums to install LED screens. Technical advancement with LED stadium screens such as ability to connect all screens together via ground network and better resolutions of the screens are some major drivers which are expected to foster the demand for LED stadium screen in near future.
However, high installation cost of LED stadium screens is the major challenge which is anticipated to face by LED stadium screen manufacturers. This factor is anticipated to dampen the growth of global LED stadium screen market.
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Market Segmentation
Our-in depth analysis of the global LED stadium screens market includes the following segments:
By Technology
Surface Mounted LED Screens
Individually Mounted LED Screens
By Color Display
Monochrome LED Screens
Tri-Color LED Screens
Full-Color LED Screens
By Products
LED Ribbon Displays
LED Video Walls
Scoreboard Screens
Perimeter LED Displays
By Region
Global LED stadium screens market is further classified on the basis of region as follows:
North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
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Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products'' demand, growth and opportunities for new and existing players .
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