The global LED Rental Market is estimated to be valued at US$ 19.00 Bn in 2023 and is expected to exhibit a CAGR of 23. % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Their eco-friendly operation, vivid brightness, energy efficiency and long operational life compared to traditional lighting solutions is driving their adoption.
Market Overview:
LED rental services provide temporary LED displays for various purposes like product launches, exhibitions, live concerts and sports events. They offer a cost-effective solution compared to purchasing permanent LED displays.
Market key trends:
The increasing investments in large scale events and live shows are driving the demand for LED wall and videowall rentals. LED screens are preferred for corporate conferences and product launches to effectively engage with the target audience. Fast economic growth in emerging nations is fueling infrastructure development and real estate construction, thereby augmenting the need for temporary LED lighting solutions. Adoption of LEDs over conventional lighting in stadiums, malls and public places is also propelling the market growth.
Segment Analysis
The global LED rental market is segmented by type, application and service. Based on type, the market is segmented into LED billboards, LED ribbon displays, perimeter LED displays, LED video walls and other LED displays. The LED billboards segment dominated the market in 2022 and is expected to continue its dominance over the forecast period. LED billboards provide high resolution videos and images even in outdoor environments, which is driving their adoption for outdoor advertising and events.
Key Takeaways
The Global LED Rental Market Size is expected to witness high growth, exhibiting CAGR of 23.% over the forecast period, due to increasing demand for eco-friendly and energy-efficient display solutions.
Regional analysis
North America dominated the global LED rental market in 2022 and is expected to continue its dominance over the forecast period. Rapid adoption of LED displays and rising number of live entertainment and sporting events in the US and Canada are fueling the market growth in the region. Asia Pacific is expected to be the fastest growing market, owing to infrastructural developments and increasing government investments in smart city projects in China, India and Southeast Asian countries.
Key players
Key players operating in the LED rental market are 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, Mitsubishi Electric Corporation. Barco, Absen and Daktronics hold a significant share of the market. Barco offers a wide range of LED display rental solutions for events, live entertainment and architectural applications.
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