Global consumption of packaged LED chips used in signage/professional displays will rise at an average annual rate of 11.9% from nearly $2bn in 2014 to $3.56bn in 2019, forecasts a new study from market research firm ElectroniCast Consultants.
Demand is climbing for applications including indoor and outdoor signage/displays used in airports, shopping centers, roadways, sport venues, hospitals, hotels, business centers, and public transit vehicles and stations, says ElectroniCast.
"In 2014, the use of LEDs in lighting, especially in signage and display applications, is fully set in the growth stage in the product life cycle (PLC), especially in digital signage and TV-type (commercial TV) displays and large-format displays (LFDs) sold through the B2B (business-to-business) activity," says Stephen Montgomery, director of ElectroniCast's LED Lighting market research group.
"This application covers LEDs used in stationary and vehicle-based signs and displays," he adds. "LEDs are used in building facades, airports and public transit stations, large outdoor video screens, digital billboards, sport/stadium displays, small indoor retail displays, food displays (restaurants/supermarkets), signs on taxis and destination signs on mass-transit vehicles, channel-lettering/light-boxes, LED/LCD TV screens (used exclusively for professional display purposes), and the list continues."
The market forecast covers standard-type versus high-brightness (HB)-type LEDs used in signage and professional displays. In terms of value, HB-LEDs are forecast to maintain the market share lead. However, in terms of volume (the number of LEDs), standard-type LEDs dominate in market share, since there is a huge difference in average selling prices (ASPs) between HB-LEDs and standard LEDs, notes ElectroniCast.
