The 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.

Market Overview:

LED rental services involve renting out LED displays and video walls for events, conferences, ceremonies and corporate meetings on a short-term rental basis. Key end uses of rented LED screens include live concerts, award shows, sports events, exhibitions and corporate events. LED screens provide high brightness, wide viewing angle, low power consumption and long lifecycle making them ideal for staging live digital events.

Market Dynamics:

The growth of the Global LED Rental Market Size is driven by increasing number of live concerts, exhibitions and corporate events globally which require large format display solutions. According to the International Congress and Convention Association, the global meetings industry was valued at over $1 trillion in 2019 in terms of direct spend and represented over 1 million jobs worldwide. Further, rising demand for digital signage and visual effects at sports stadiums and arenas is also fueling the adoption of rented LED screens. However, high initial costs associated with LED display hardware remains a key challenge for market growth.

SWOT Analysis

Strength: LED Rental Market offers high quality flexible lighting solutions at affordable prices. LED lights have low power consumption and offer long operational hours on a single charge. They produce bright light with low heat emission making them safer.
Weakness: Initial investment in LED lights is high. Frequent technology advancements require regular upgrades. Planning and managing large scale LED rental projects requires expertise.
Opportunity: Rising demand for LED lights in live events, exhibitions and outdoor advertising is creating growth opportunities. Increasing spends on experiential marketing and digital signage will boost adoption.
Threats: Threat from in-house LED lighting solutions. Economic slowdowns can negatively impact planned projects and events needing LED rentals.

Key Takeaways

The global LED Rental Market is expected to witness high growth, exhibiting a CAGR of 23% over the forecast period, due to increasing demand for LED lights in live events, exhibitions and outdoor advertising.
Regional analysis: North America dominates the global LED Rental Market with over 30% share due to high concentration of live events industry and presence of major industry players. Asia Pacific is the fastest growing region due to rising spends on outdoor advertising, exhibitions and digital signage in major economies like China and India.

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 and Absen capture over 30% of global market owing to strong portfolio and partnerships with live event producers.

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