LED stadium screens are a growth market, with Asia Pacific leading the charge.
New research from Transparency Market Research shows the market was worth more than US$1.1 billion in 2014 and is forecast to reach US$1.9 billion by 2022, growing at a compound annual growth rate of 6.6% from 2015 to 2022.
While Europe was the largest market for LED stadium screens in 2014, accounting for 35% of the overall LED stadium screens market, it is Asia Pacific which is expected to witness the fastest growth out to 2022.
“Asia Pacific, especially in terms of countries such as China, Japan, South Korea, India, Australia and Singapore, offers several growth opportunities for the LED stadium screens market,” Transparency Market Research says.
The research house says while early versions of global LED stdium screens were highly expensive and only affordable for a few of the major stadiums globally, the impact of the screens on spectators was so profound that the trend of installing them thrived, despite the high prices.
The popularity of the screens is also being driven by the fact they are a recurring revenue source for sponsors or operators.
Transparency Market Research says the most popular types of LED stadium screens are LED video screens, LED video displays, scoreboards and timing screens, and perimeter LED displays.
LED video screens contributed the bulk of the global LED stadium screens market revenue in 2014, and accounted for 68% of the market in 2015.
Transparency Market Research says the LED video screens market is expected to expand at 7.0% CAGR from 2015 to 2022.
The company says in terms of technology, individually mounted LED displays accounted for aroudn 60% of revenue in the market, but the surface mounted LED display segment is expected to grow fastest through to 2022.