The Global LED Rental Market Growth Accelerated By Increasing Demand For LED Rental Services From Live Concerts And Events Industry

LED Rental Market 

LED rental refers to various audiovisual components and lighting systems used for live concerts, events, and various other occasions. LED panels are increasingly being used for staging graphics, images, and videos during live performances. They deliver crystal clear displays with higher brightness and low power consumption compared to traditional lighting systems. Their modular and lightweight design enables easy transportation and installation. Moreover, they do not emit heat, removing the hassle of cooling equipment. 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.

Market key trends:

The increasing demand for LED rental services from the live concerts and events industry has accelerated the market growth over the past few years. LED panels are now an integral part of concerts and live performances as they enhance the overall viewing experience of audiences. Touring artists and event organizers extensively use large-scale LED display walls and interactive video screens to showcase graphics, animations, and videos during performances. Moreover, LED walls allow seamless integration with different musical instruments and lighting systems controlled through a centralized control console. The modular and standardized design of LED panels also simplifies their mounting over various stages and venues of different sizes. This has motivated more live concert producers and event companies to invest in LED rental services.
Segment Analysis

The global LED rental market is dominated by indoor sub-segment. With enhancing adoption of LED video walls, projectors, and individual displays for events, conferences, concerts, and shows in indoor settings, the indoor sub-segment holds over 60% share in the global market. Indoor LED displays offer better image quality and clarity compared to outdoor LED displays. As a result, they are highly preferred for applications involving critical image presentation.

Key Takeaways

The global Led Rental Market Growth is expected to witness high growth over the forecast period of 2023 to 2030. The market is projected to expand at an impressive CAGR of 23% during this period and reach a value of US$ 19.00 Bn by 2030.

Regional analysis

The Asia Pacific region is expected to emerge as the fastest growing regional market for LED rentals. Rapid infrastructure development and urbanization are driving the demand for LED rentals for various indoor and outdoor applications in the region. Countries such as China, India, and Japan are anticipated to be at the forefront of growth. Europe and North America currently dominate the global LED rental market. However, their market shares are expected to decline marginally over the forecast period owing to saturation.

Key players

Key players operating in the LED rental market include 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, and Mitsubishi Electric Corporation. Major players are focusing on strengthening their geographic footprint in high growth regions through strategic collaborations and partnerships with local players. They are also investing in R&D to develop technologically advanced and energy-efficient LED display solutions.

For more insights, read- https://www.ukwebwire.com/rental-led-market-trends-size-and-share-analysis/