LED Billboard Lights Market Size, Share, Trends, Growth 2032

LED Billboard Lights Market Insights

According to a report from Zion Market Research, the global LED Billboard Lights Market was valued at USD 7.83 Billion in 2023 and is projected to hit USD 15.71 Billion by 2032, with a compound annual growth rate (CAGR) of 7.2% during the forecast period 2024-2032. This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the LED Billboard Lights Market industry over the next decade.

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LED Billboard Lights Market: Introduction

LED billboard lights offer a particular modular family of LED lighting products in a solid state and substitute the high-pressure lightning sources made from sodium metal. It is durable and power efficient. Apart from this, the product is the kind of floodlight embedded with optics utilized for illuminating da billboard either at the bottom or at the top.

LED Billboard Lights Market: Growth Drivers

The advent of LED technology is anticipated to bring a paradigm shift in the light industry and this is likely to drive market trends. With LED systems achieving a cost-cutting edge in myriad applications, the LED billboard lights market is anticipated to accelerate in the upcoming years. LED has become an affordable technology and this will culminate in the LED billboard market size in the coming decade. Reportedly, global earnings from the LED lighting industry are projected to expand by 30.1% annually and accounted for nearly 62% of overall lightning industry profits in 2020. This, in turn, will uplift the LED Billboard lights market value in the upcoming years.

Furthermore, LED being revolutionary lightning technology provides various benefits such as over 80% of power savings as compared to traditional tube lights and carbon abatement.  Growing acceptance of LED will exhilarate the LED billboard light industry revenue over the forecast timeframe. Moreover, the growing trend of LED lighting technologies is expected to bring a shift in LED billboard light market dynamics. Apart from this, LED provides more advantages over conventional lighting products such as compact fluorescent lamps, incandescent lamps, and halogen lamps.

In addition to this, LED bulbs have a long lifespan of nearly 15 years which is about four times more than compact fluorescent lamps (CFL) lifespan. All these aforementioned factors will create lucrative growth avenues for the LED billboard lights industry in the years ahead. However, the high costs of LED technologies as compared to traditional tube lights along with initial costs as well as replacement costs of these LEDs can pose a threat to the growth of the LED billboard lights industry in the near future. Nonetheless, the rise in the sales of the LES billboard lights owing to the rapid growth of the LED chip scale package (CSP) market is likely to boost business trends.

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LED Billboard Lights Market: Report Scope

LED Billboard Lights Market: Regional Landscape

Asia Pacific Market To Register Exponential Growth Over 2024-2032

The growth of the LED billboard lights industry in the Asia Pacific over the assessment period is credited to large-scale product penetration in the countries such as China and Japan. In addition to this, large-scale funding for LED chips & package production in countries such as China will proliferate the regional market size in the years ahead. The thriving construction industry in the Asian continent and favorable government policies supporting the use of the product will assist the market to expand sumptuously over the forecast timeline. Apart from this, escalating awareness pertaining to energy savings due to the severe power supply shortage in the region has led to huge product penetration in the sub-continent in recent years. This will bring an increment in the regional market share over 2024-2032.

Key Market Players & Competitive Landscape

Key players profiled in the report are 

• Philips
• GE Lightning
• Acuity Brands
• Eaton Corporation
• Panasonic Corporation
• Toshiba
• Cree
• LG Electronics
• Toshiba
• TCP
• Lextar
• Hubbell
• MLS
• FSL
• Nichia
• Apple
• Havells.

The global LED Billboard Lights Market is segmented as follows:

By Application

• Column Billboard
• Wall Billboard

By Product Type

• Power below 100W
• Between 100W and 200W
• Power above 200W

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of The Middle East & Africa