LED Billboard Market to Reach $9,795.2 million, Globally, by 2032

According to a new report, the "LED billboard market" was valued at $3,554.2 million in 2022, and is estimated to reach $9,795.2 million by 2032, growing at a CAGR of 10.8% from 2023 to 2032.

The growth of the global LED billboard market is driven by factors such as shift toward digital advertising and surge in demand for real-time content. However, high costs and availability of alternatives restrict market growth. On the contrary, expansion opportunities in emerging markets and integration of smart technologies are expected to offer new opportunities in the coming years.

By type, the full color segment dominated the market in 2022, accounting for more than two-thirds of the market share and is expected to dominate the market during the forecast period owing to their capacity to provide bright and compelling visual experiences. With improvements in LED lighting technology, full-color screens now provide rich, dynamic material with a high level of resolution, assuring vividness and precision even at a considerable distance.

By application, the outdoor segment dominated the market in 2022, accounting for nearly three-fourths of the market share and is expected to dominate the market during the forecast period. Outdoor LED billboards are utilized extensively for marketing, promotion, and informative displays in high-traffic locations including motorways, city centers, stadiums, and shopping malls. Their capacity to survive a variety of climates while displaying bright, eye-catching material makes them essential for outdoor marketing campaigns.

On the basis of the end user, the advertising and media segment dominated the market in 2022, accounting for nearly half of the market share and is expected to maintain its dominance during the forecast period. LED billboards provide unrivaled adaptability and exposure, which makes them the top choice for advertisers looking to engage viewers with innovative and visually appealing content. Their capacity to display bright pictures, videos, and animations in excellent resolution, along with configurable planning and remote management of content, allows advertisers to adapt messages and campaigns more successfully.

Region wise, Asia-Pacific dominated the market in 2022, accounting for more than one-third of the market share and is expected to maintain its dominance during the forecast period. Rapid urbanization and economic expansion in China, India, and Japan have resulted in greater growth in infrastructure including a rise in outdoor advertising spending. As a result, there is a huge need for LED billboards to meet the expanding advertising demands of businesses and organizations.