Global Outdoor Video Walls Market 2019-2023 | 18% CAGR Projection Over the Next Five Years | TechnavioThe Associated Press
LONDON--(BUSINESS WIRE)--Apr 15, 2019--The global outdoor video walls market is expected to post a CAGR of close to 18% during the period 2019-2023, according to the latest market research report by Technavio.
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The global outdoor video walls market will post a CAGR of close to 18% during the period 2019-2023 (Graphic: Business Wire)
LED mobile outdoor video walls that are placed by the side of trailers or trucks for advertising have gained immense prominence in recent years. These video walls can be moved to different physical locations thereby engaging the maximum number of viewers on their way. With LED mobile outdoor video walls, enterprises are allowed to place eye-catching LED screens in front of the target demography, which can help it garner more attention. The vehicle carrying LED mobile video walls can be tracked and managed by enterprises which support them to put mobile video walls in important locations. Such advantages of LED mobile outdoor video walls will propel its demand worldwide during the forecast period.
As per Technavio, the growing advent of digital OOH advertisements will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global outdoor video walls market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global outdoor video walls market: Growing advent of digital OOH advertisement
The digital OOH advertisements have gained immense popularity in recent times as the most effective and strongest advertising medium. A large number of companies including SMEs are adopting digital platforms for advertising and marketing, which is providing immense growth opportunities for digital OOH advertising. This is primarily due to the growing need for effective advertising platforms that reach out to a broader audience and help companies to remain competitive in the market. The customer engagement rate of these campaigns is comparatively higher than other marketing strategies and campaigns that effectively engage customers.
“Enterprises are increasingly opting for outdoor ads over traditional ads as outdoor ads help any product or business reach a large number of audiences. As a result, it becomes easier for the marketers of an enterprise to plan the campaign and target the desired audience without wasting their budget. Outdoor ads are thus a more cost-effective way of reaching potential clients and customers. Such advantages will push enterprises to adopt outdoor ads which will fuel the sale of outdoor video walls,” says a senior analyst at Technavio.
Global outdoor video walls market: Segmentation analysis
This market research report segments the global outdoor video walls market by product (LCD, LED, and DLP) and geographic regions (APAC, Europe, MEA, North America, and South America).
The LCD segment held the largest outdoor video walls market share in 2018. The growth of the LCD segment can be attributed to its versatile design, low cost, and various performance characteristics such as automatic color and brightness calibration.
The North America region led the market in 2018 with a market share of over 35%, followed by Europe, APAC, South America, and MEA respectively. The high revenue share of the region can be attributed to the continuous use of outdoor video walls in promotional and advertising campaigns by manufacturers, retailers, and government organizations.
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