The market for LED advertising displays is expanding as a result of the rising demand for digital advertising in various countries. Car LED advertising displays are becoming more and more popular among advertisers because of their affordability and adaptability. This trend toward using automobiles as mobile billboards is also expanding. The efficiency of automobile LED advertising displays in terms of power usage and brightness levels has also improved thanks to technological improvements, which again support the industry's expansion in terms of income creation. Government programmes like tax breaks on product sales are another factor that is anticipated to boost demand throughout the forecast period.
Car LED Advertising Displays are utilized to quickly and dynamically communicate the message, which aids in grabbing the attention of target clients. Since it gives advertisers more freedom to choose the ideal customer base to target, the mobility of automotive LED advertising displays boosts their use. Government initiatives and technology improvements in numerous nations have accelerated the expansion of the automobile LED advertising display market due to the rising demand for affordable advertisement strategies.
Car LED Advertising Display is a type of advertising in which goods are displayed and promoted on the outside of moving cars. It has an LED display system installed on the outside of vehicles like taxis, buses, and police cars. Depending on the application, the displays' high-resolution LCD screens can be powered either by an internal or an external battery. Additionally, these displays let advertisers employ a variety of content, including still images, videos, and animation.
The Global Car LED Advertising Display Market is anticipated to reach USD 5.56 billion in value by 2031, expanding at a CAGR of 11.76% over the forecast period of 2021–2031.
The market for car LED advertising displays is anticipated to grow over the course of the forecast period due to rising demand for digital advertising and rising preference for advertising via automobiles.
During the forecast period of 2021–2031, the market is expected to experience a number of obstacles despite the rising demand for automotive LED advertising displays. Over the projected period, the expansion of this market may be constrained by the high investment costs associated with these systems and restrictions on the advertising of digital content in some nations. A danger to this market's expansion in the near future may potentially come from technological developments like Virtual Reality (VR). Additionally, the public's lack of technical expertise and awareness may potentially impede the development of this sector. Nonetheless, in the near future, it is anticipated that the market for automobile LED advertising displays will see growth due to the advent of new advertising platforms and the rising need for digital advertisements.
Euroscreen Srl, GDS Technologies Limited, Arrow Electronics, Inc., Daktronics, Inc., Multimedia Displayservices GmbH & Co. KG, Lighthouse Technologies Limited (Absen), O-film Tech Co., Ltd., UNICONTROLS CO., Shenzhen Lightwell LED Display Technology Co., Ltd., LTD, and Thomas Scientific LLC are a few of the major players in the global car LED advertising display market. To expand their market presence and solidify their position in the business, these companies are forming strategic alliances through m&a transactions, partnerships, and collaborations. The top players participating in the global car LED advertising display market are thoroughly analysed in the study, including information on their financials, product portfolios, investment plans, and most recent advancements. In addition, Porter's Five Forces Analysis has been added to help comprehend the market's competitive environment. The study gives important insights into the future of this business as well as a thorough market analysis for the projected years of 2021 to 2031.
The Full-Color Segment emerged as the Most Lucrative Type
The market for car LED advertising displays is divided into three categories based on type: monochrome, two-colour, and full-colour. Due to the vast range of uses, it has in the advertising industry, the full-colour category is anticipated to lead the market in terms of revenue. During the projected period, this segment's growth will also be aided by the rising demand for high-resolution and brighter displays.
The Most Prominent Application is the Taxi Advertisement Segment
The market for car LED advertising displays is divided based on application into taxi advertisements, bus, police car electronic screens, and others. Since it can be deployed quickly and is less expensive than other forms of advertising, the taxi advertising segment is anticipated to experience the fastest growth.
The North America Region to render Ample Financing Opportunities
The market for car LED advertising displays is divided into five regions based on geography: North America, South America, Asia Pacific, Europe, and the Middle East & Africa. Due to the presence of major players operating there, North America is anticipated to dominate the market in terms of revenue. During the forecast period of 2021–2031, the market for automotive LED advertising displays is anticipated to rise because of the rising need for digital advertising.
COVID-19 Impact and Market Status
All industries have been hit by the coronavirus pandemic, including the Car LED Advertising Displays Market. Lockdowns and restrictions on the movement of people and goods have resulted from the strict measures implemented by governments in numerous nations. The limitations on advertising activities directly affected the marketing tactics used to promote goods and services. Additionally, a lot of businesses decided to reduce their advertising budgets, which further reduced the market for LED advertising displays for automobiles. However, with the announcement of a relaxation of lockdowns, the market is anticipated to quickly recover from this crisis period and rise at a high rate between 2021 and 2031.
Recent Developments in the Car LED Advertising Display Market
• BrightSign LLC announced the release of its new BrightSign XT Series 4K media players in March 2019. The item is perfect for LED display applications that call for video wall and digital signage installations.
• Appspace introduced a line of specialised solutions in April 2020 with the goal of luring customers and enabling businesses to easily manage their digital out-of-home networks. The suite comprises mobile apps that may be used on automotive LED advertisement displays, interactive kiosks, and digital signage displays.
• A brand-new all-in-one LED digital display system dubbed Vision X was introduced by Vutec in July 2021. The gadget combines innovative LED technology with interactive touchscreen controls to let users build eye-catching and engaging advertisements for LED displays in moving vehicles.
• PixelFLEX announced the release of a new product called FLEXLite NXT in March 2022. The item is made for outdoor use and is perfect for car LED advertising displays because it has high brightness levels, uses little power, and is resistant to extreme weather.
Car LED Advertising Display Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2031||USD 5.56 billion|
|Growth Rate||CAGR of 11.76% during 2021-2031|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Euroscreen Srl, GDS Technologies Limited, Arrow Electronics, Inc., Daktronics, Inc., Multimedia Displayservices GmbH & Co. KG, Lighthouse Technologies Limited (Absen), O-film Tech Co., Ltd., UNICONTROLS CO., Shenzhen Lightwell LED Display Technology Co., Ltd., LTD, and Thomas Scientific LLC|
Key Segments of the Car LED Advertising Display Market
Type Overview, 2021-2031 (USD Billion)
• Full Color
Application Overview, 2021-2031 (USD Billion)
• Taxi Advertisement
• Police Car Electronic Screen
Regional Overview, 2021-2031 (USD Billion)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
• Middle East and South Africa