Report Overview

Growing advertising industry and declining LED display costs are projected to propel the expansion of the India outdoor LED display market during the forecast period between 2023 and 2029.

India Outdoor LED Display Market - Industry Trends & Forecast Report, 2029

India outdoor LED (light emitting diode) display market size is expected to grow at a CAGR of 15.46% during the forecast period between 2023 and 2029. Major growth drivers for the India outdoor LED display market include an increasing adoption of digital advertising and the shift from traditional static displays to dynamic and interactive LED displays have fueled market growth. Advertisers are attracted to the attention-grabbing capabilities and versatility offered by outdoor LED displays. Also, the rapid urbanization and infrastructural development in India have created a demand for modern advertising and information dissemination methods. Outdoor LED displays cater to this need by providing a flexible and eye-catching medium to communicate with large audiences. The reduced prices of LED display technology and advancements in display quality have also played a vital role in market expansion. As the prices become more affordable, more businesses and organizations can invest in outdoor LED displays, leading to increased market penetration. The market is experiencing further positive boost due to the efforts made by select Indian states to implement LED lighting in government schools. Several smart city initiatives are being implemented across India. One notable aspect of these initiatives is the implementation of smart street lighting, which is considered an excellent starting point due to its potential for energy and operational cost savings.

India Outdoor LED Display Market – Overview

The India outdoor LED display market refers to the industry segment that encompasses the manufacturing, distribution, and deployment of LED (light-emitting diode) display systems designed for outdoor applications. Outdoor LED displays are electronic display panels or screens that utilize LED technology to showcase dynamic and visually engaging content in various outdoor settings. These displays are commonly used for advertising, brand promotion, information dissemination, and entertainment purposes in public spaces, transportation hubs, sports stadiums, billboards, and other outdoor environments. The India outdoor LED display market involves the production of LED display modules, the development of control and management systems, as well as the integration and installation of complete LED display solutions for commercial, institutional, and public use. This market segment also includes related services such as maintenance, support, and content management for outdoor LED display installations. It is expected that the nation will experience a decline in energy consumption of approximately 15–32% by 2025 as a result of implementing LED lighting systems. This reduction in energy usage will be facilitated by the replacement of outdated process equipment and other devices, leading to additional cost savings in energy expenditures.

India Outdoor LED Display Market

Growth Drivers

Growing Advertising Industry

With the continuous growth in the advertising sector, there is a growing demand for dynamic and visually captivating mediums to engage audiences effectively. Outdoor LED displays provide an ideal solution, offering high-resolution visuals, vibrant colors, and versatile display options. Advertisers are increasingly leveraging these displays for impactful brand promotions and effective communication in public spaces, sports stadiums, transportation hubs, and more. The ability of outdoor LED displays to attract attention and deliver captivating content has made them a preferred choice, driving the market's growth as the advertising industry continues to flourish in India.

Restraints

High Initial Investment

The India outdoor LED display market faces challenges due to the high initial investment required for setting up LED display installations. The cost of acquiring and installing outdoor LED displays can be significant, acting as a barrier for potential buyers and hindering market growth. The substantial upfront investment, including the cost of LED panels, supporting infrastructure, installation, and maintenance, can deter smaller businesses or organizations from adopting these displays. However, as technology advances and costs gradually decrease, the market is expected to overcome this restraint and witness wider adoption of outdoor LED displays in the coming years.

Impact of COVID-19 on India Outdoor LED Display Market

COVID-19 pandemic adversely affected the India outdoor LED display market. The restrictions imposed during lockdowns and social distancing measures had resulted in a decline in outdoor activities and a decrease in footfall in public spaces. Consequently, there was a reduced demand for outdoor advertising, leading to the postponement or cancellation of many planned campaigns and events. Disruptions in the supply chain and manufacturing slowdowns affected the availability and delivery of LED display components. However, as the economy gradually recovered and restrictions were lifted, the market started showing signs of recovery with the resumption of outdoor advertising activities and increased investments in digital signage solutions.

India Outdoor LED Display Market

Segmental Coverage

India Outdoor LED Display Market – By Technology

By technology, the India outdoor LED display market is bifurcated into Individually Mounted and Surface Mounted segments. The surface mounted segment held the higher market share in 2022 by technology. A surface mounted display refers to an electronic billboard or sign that features a grid of LEDs directly affixed to a flat surface, typically a metal or plastic frame. This grid-like arrangement allows for the creation of a substantial display capable of showcasing real-time text, images, and videos. Unlike individually installed displays, surface mounted displays do not allow for the replacement of individual LED modules. Instead, if one LED malfunctions, the entire module must be replaced. However, despite this limitation, surface mounted displays are favored over individually installed ones due to their lightweight nature and simplified installation process.

India Outdoor LED Display Market – By Display

Based on display, the India outdoor LED display market is divided into Monochrome Display, Tri-Color Display, and Full-Color Display segments. The full-color display segment is expected to dominate the market during the forecast period. A full-color display is an electronic billboard or sign comprising an array of light-emitting diodes that emit a wide range of hues. The advantage of a full-color display lies in its ability to render realistic and high-quality images, making it ideal for environments where visibility is critical, including those with indirect sunlight. However, full-color displays may incur higher costs and maintenance challenges compared to monochrome or tri-color displays. Meanwhile, the tri-color segment is expected to witness the fastest growth rate during the forecast period. Tri-color displays are commonly used in outdoor advertising, public education, and entertainment. They offer the advantage of producing vibrant and attention-grabbing images, making them well-suited for environments that require high visibility, even in direct sunlight. Nonetheless, tri-color displays may entail higher costs and maintenance complexities when compared to monochrome displays. Tri-color LEDs are typically employed as indicator lamps that indicate three different statuses or conditions.

India Outdoor LED Display Market – By Application

Based on application, the India outdoor LED display market is divided into Billboards, Video Walls, Perimeter LED Boards, LED Matrix Board, and Traffic Lights segments. The LED billboards segment held the highest share in the India outdoor LED display market in 2022. LED billboards find extensive application in outdoor advertising, public education, and entertainment. They are commonly seen on highways, in urban areas, and during sporting events. LED billboards offer numerous advantages over traditional printed billboards, including the ability to display dynamic and animated content, the ease and speed of content modification, and uninterrupted operation. Also, LED billboards are more energy-efficient and environmentally friendly, consuming less power and boasting a longer lifespan compared to conventional billboards.

India Outdoor LED Display Market – By Mode of Sales

Based on mode of sales, the India outdoor LED display market is bifurcated into Offline and Online segments.

India Outdoor LED Display Market – By Region

By region, the India outdoor LED display market is segmented into North India, South India, East India, and West India.

Competitive Landscape

Major players operating in the India outdoor LED display market include Samsung Electronics, Sony Corporation, LG Electronics, Daktronics, Barco, Panasonic Corporation, Absen, Leyard, and Unilumin. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

By Technology

• Individually Mounted

• Surface Mounted

By Display

• Monochrome Display

• Tri–Color Display

• Full Color Display

By Application

• Billboards

• Video Walls

• Perimeter LED Boards

• LED Matrix Board

• Traffic Lights

By Mode of Sales

• Offline

• Online

By Region

• North India

• South India

• East India

• West India