Photo courtesy Chris’s Sign Service
The global use of light-emitting diode (LED) packaged chips in signage and professional displays is forecast to grow by nearly 12 per cent annually, according to the latest data from market research firm ElectroniCast Consultants.
The company’s newly released market study forecasts the worldwide consumption value of LED chips placed in these types of displays will reach nearly $2 billion this year and then increase at an average yearly rate of 11.9 per cent to reach $3.56 billion in 2019. (The report refers only to consumption for each particular calendar year, so the numbers are not cumulative.)
ElectroniCast’s research shows market demand for LEDs is climbing for both indoor and outdoor signs and displays at many types of venues, including airports, shopping centres, sport venues, hospitals, business centres, transit stations and hotels.
“In 2014, the use of LEDs in sign and display lighting applications is fully set in the growth stage of the product life cycle (PLC), especially in digital signage, commercial TV-type displays and large-format displays sold through business-to-business (B2B) activities,” says Stephen Montgomery, director of ElectroniCast’s LED lighting market research group and regular contributor to Sign Media Canada. “These include LEDs used in digital billboards, building façades, taxi signs, large outdoor video screens, channel letters, lightboxes, liquid crystal display (LCD) backlighting, stadium scoreboards, small indoor retail displays and other applications.”
The market forecast covers both standard and high-brightness LEDs (HB-LEDs). In terms of value, HB-LEDs are forecast to maintain their lead in market share. In terms of volume, however, standard LEDs dominate the market. As these trends suggest, there continues to be a significant difference between the two types’ average selling prices.
