LED Display Market Growth Predicted to Reach $23.3 Billion

The global LED display market size was valued at $15.3 Billion in 2022 and is slated to hit $23.3 Billion by the end of 2030 with a CAGR of nearly 7.5% between 2023 and 2030.

LED refers to a light-emitting diode and the LED displays comprise of flat panel display that makes use of an array of light-emitting diodes for displaying videos. Furthermore, the LED display offers high brightness and hence finds a slew of applications in outdoor displays such as digital nameplates in store signs, transport vehicles, and billboards. These products have the ability to provide illumination as well as a visual display. Furthermore, it is utilized for various decorative purposes including stage lighting.

The global market is anticipated to record massive growth over the forecast period owing to rising government support for use of LED displays with a view to save energy. Based on type, the outdoor LED segment is predicted to dominate the segmental space during the forecast timeline.

In terms of application, the traffic & security segment to dominate the segmental growth over 2023-2030.

Region-wise, the European LED display market is projected to record the highest growth during the assessment period.