About High Power LED Billboard Light
With the public's attention span shrinking, digital advertisements on LEDs enable businesses to target specific demographics with short, catchy messages. Billboards have traditionally been thought of as a standard out-of-home message displayed on a structure containing information about a product or service. LED billboard lights are specifically designed for outdoor advertising billboards and large banners. In terms of power consumption savings, these products are 4-5 times more efficient than metal halide lamps, and they do not lose brightness as quickly over time. Growing marketing spending has a positive impact on the market for led billboard lights, but the growing presence of newly emerging digital dashboards poses a significant challenge to the market's future prospects.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 4.0% |
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global High Power LED Billboard Light market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Philips N.V. (Netherlands), GE Lighting (United States), SMART Global Holdings (United States), Eaton Corporation plc (Ireland), Panasonic Corporation (Japan), LSI Industries (United States), Hubbell Incorporated (United States), Global Lighting (Cayman Islands), Osram AG (Germany) and Acuity Brands (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Ikio (United States), LedsUniverse (United States) and Opple Lighting (China).
Segmentation Overview
AMA Research has segmented the market of Global High Power LED Billboard Light market by Type (Power Below 100W, Between 100W and 200W and Power Above 200W), Application (Column Billboard, Wall Billboard and Others) and Region.
On the basis of geography, the market of High Power LED Billboard Light has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Use Vertical, the sub-segment i.e. Automotive and Transportation will boost the High Power LED Billboard Light market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Power, the sub-segment i.e. Grid Connected will boost the High Power LED Billboard Light market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Prevalence of Smart lighting and Advent of Outdoor Integrated Linear Lighting
Market Growth Drivers:
Rising Demand for Sustainable Alternatives or Energy Efficient Alternatives and Advent of Digital Out-of-home Advertising
Challenges:
High Competition among Established Players
Restraints:
High Cost of Digital Billboards
Opportunities:
Increasing Popularity of Billboards with Pixel Density and Rise of Smart Cities
Market Leaders and their expansionary development strategies
July 2022 CREE, a leading lighting manufacturer, partnered with Signify, a global leader in lighting solutions, to develop and supply high-power LED modules specifically designed for the billboard industry. This partnership aimed to bring together CREE's expertise in LED technology with Signify's experience in lighting applications to create more efficient and reliable billboard lighting solutions.
February 2023, Samsung Electronics launched its new line of high-power LED modules, the "LH775M series," specifically designed for outdoor advertising applications like billboards. These modules boasted features like higher brightness, longer lifespan, and improved color consistency compared to previous models.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, LED Billboard Light Manufacturers, Suppliers, and Distributors, End-Use Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.