Global LED Rental Market Is Estimated To Witness High Growth Owing To Increasing Demand in Advertising

 

LED Rental Market

Market Overview:

The global LED Rental Market is projected to reach a value of US$ 19.00 billion by 2023, growing at a CAGR of 23% during the forecast period. LED rental refers to the temporary usage of LED screens and displays for events such as concerts, sports tournaments, trade shows, and conferences. LED screens offer high-definition visuals, better contrast ratio, and energy efficiency, making them a popular choice for event organizers. The advantages of LED rental include easy installation, flexibility in screen sizes, and customization options as per event requirements. The need for visually appealing displays and immersive experiences at events is driving the demand for LED rental products.

Market Key Trends:
One key trend in the LED rental market is the increasing adoption of fine pitch LED displays. Fine pitch LEDs are miniature LED chips with a pixel pitch of less than 1.5mm, resulting in high-resolution displays. These displays offer exceptional image quality, vibrant colors, and wide viewing angles, making them suitable for applications requiring detailed graphics. The growing demand for fine pitch LED displays can be attributed to the rising popularity of virtual reality (VR) gaming, outdoor advertising, and large-scale events. The market is witnessing technological advancements and product innovations to enhance the performance and reliability of fine pitch LED displays, thus driving their adoption in the LED rental market.
Segment Analysis:

The LED rental market can be segmented based on application and end-use industry. In terms of application, the market is dominated by the event industry segment, which includes concerts, sports events, trade shows, and other entertainment events. This segment is expected to witness high growth due to the increasing number of live events worldwide. LED screens are preferred in these events as they offer high-resolution visuals and can be customized as per the event requirements.

In terms of end-use industry, the market is dominated by the advertising segment. LED rental screens are extensively used in outdoor advertising campaigns due to their high visibility and eye-catching display. LED screens are capable of displaying dynamic and interactive content, making them an effective medium for advertisements. The advertising segment is also expected to grow at a significant rate due to the increasing adoption of digital signage solutions.

Key Takeaways:

The global LED Rental Market Share is expected to witness high growth, exhibiting a CAGR of 23% over the forecast period. This growth can be attributed to the increasing demand for LED screens in various applications and industries. The event industry segment, particularly concerts and sports events, is expected to drive the market growth as organizers look for innovative ways to engage the audience and enhance their experiences.

In terms of regional analysis, North America is the fastest-growing and dominating region in the LED rental market. This can be attributed to the presence of several leading LED rental service providers in the region, as well as the high adoption of LED screens in events and outdoor advertising campaigns. Additionally, the Asia Pacific region is also expected to witness significant growth due to the increasing number of live events and the growing popularity of digital signage solutions in countries like China and India.

Key players operating in the LED rental market include Barco, Absen, Lighthouse Technologies, ROE Visual, Unilumin, PixelFLEX, LianTronics, Daktronics, NEC Display Solutions, Sony Corporation, Christie Digital Systems, Planar Systems, Yestech Optoelectronic, Galaxy LED Display, and Mitsubishi Electric Corporation. These key players have a strong market presence and offer a wide range of LED rental solutions to cater to the diverse requirements of the customers.