Electronics & Smart Devices
LED Stadium Screens Market : Global Demand Analysis & Opportunity Outlook 2024
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LED Stadium Screens Market : Global Demand Analysis & Opportunity Outlook 2024
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In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
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.
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 LED stadium screens.
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. CLICK TO DOWNLOAD FREE SAMPLE REPORT
Our-in depth analysis of the global LED stadium screens market includes the following segments:
Global LED stadium screens market is further classified on the basis of region as follows:
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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