India Active LED Market Size & Growth Rate
India Active LED Market is projected to grow at a CAGR of 19.0% during 2023–2029, driven by rising government infrastructure spending, increased demand for digital advertising, and widespread adoption of indoor applications in retail and corporate sectors, with Northern region and SMD LED technology leading the market.
India Active LED Market Synopsis
India Active LED Market grew significantly during 2019 on account of rising advertising expenditure. However, during 2020, covid-19 significantly impacted the overall Active LED market as the country faced a nationwide lockdown that led to the shutting down of international borders and impacted the supply chain in the market which has resulted in the decline in Out of Home (OOH) advertising industry by 55% in H1, 2020. Most of the commercial spaces, shopping malls, cinemas, and stadiums were closed where LED Videowall screens are heavily deployed which impacted the market demand during that year. Moreover, the Indian media and entertainment sector witnessed a degrowth of 24% during 2020 which further reduced the demand for LED screens in that sector. Additionally, the Delhi government approved a proposal in January 2022 to install 600 LED screens which would display graphic films, pollution data, social messages, health awareness campaigns, and information on government policies of public interest, thereby contributing to India Active LED Market Growth.
According to 6Wresearch, India Active LED market size is projected to grow at a CAGR of 19.0% during 2023–29. The market is expected to witness significant growth in the coming years owing to rising spending expenditure of the government on infrastructure projects and advertisement spending. The government is building 100 airports by the end of 2024 which would augment the demand for Active LED Videowalls. Also, the central government presented a roadmap to invest ?91,000 crore to develop new airports and upgrading existing ones in different parts of India by the year 2025 which would boost the Active LED Videowall market in India in coming years. The Active LED Market in India is also growing owing to its increased demand for digitized promotion of products and services and rapid technological advancements in the field of LED Videowall products in order to produce high quality viewing experience.
Market by Application
Indoor application acquired major revenue share in 2022 as retail sector in India are prioritizing advertisement and thus demand for Indoor LED Videowalls would grow in future. Moreover, Indoor LED videowall is becoming common in corporate lobbies, boardrooms and customer experience centres along with increase in demand in transportation sector to display information regarding flights and trains.
Market by Pixel Pitch
Based on outdoor pixel pitch, the 4.1-8 mm accounted for major revenue share and same trend is expected to follow on account of increase in production of P4 and P6 LED panels as a result of higher demand due to better display quality. Based on indoor pixel pitch, the Between 1-3mm accounted for major revenue share in 2022 and same trend would continue in future as mostly P2.5 is preferred by the consumers as they offer high resolution while allowing owners of retail businesses, restaurants, conference rooms and exhibitors to feature their products.
Market by Indoor Technology
SMD LED accounted for majority of revenue share in India Active LED market in the year 2022 owing to their application in both indoor and outdoor due to high durability, low power consumption and high reliability and the same segment will continue to dominate the India Active LED Industry.
Market by Product Category
Cabinet finds its prominent application in outdoor applications on account of better-quality control, better thermal management, dust proof, waterproof, among others. The similar segment is projected to grow in the coming years.
Market by Region
Northern Region garnered majority of revenue share in India Active LED Market in 2022, and same trend would continue in future because of rise in government spending in advertisement due to G20 meeting 2023 in northern cities such as Delhi, Srinagar, Varanasi, and other cities there is increase in government tenders. Additionally, Southern region would also grow as there would be demand from out of home (OH) and Corporate in areas such as Bangalore and Hyderabad.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 11 Years Market Numbers.
- Historical Data Starting from 2019 to 2022.
- Base Year: 2022
- Forecast Data until 2029.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report:
- India Active LED Market Overview
- India Active LED Market Outlook
- India Active LED Market Forecast
- Historical Data and Forecast of India Active LED Market Revenues for the Period 2019-2029F
- Historical Data and Forecast of India Active LED Market Revenues, By Regions, for the Period 2019-2029F
- Historical Data and Forecast of India Active LED Market Revenues, By Pixel Pitch, for the Period 2019-2029F
- Historical Data and Forecast of India Active LED Market Revenues, By Application, for the Period 2019-2029F
- India Active LED Competitor Analysis
- India Active LED Industries Analysis
- India Active LED Customer Preference Analysis
- Market Drivers and Restraints
- Industry Life Cycle
- Porter’s Five Force Analysis
- Impact Analysis of COVID-19
- Market Trends
- India Active LED Market Revenue Share, By Companies
- Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Market Scope and Segmentation
Thereportprovides a detailed analysis of the following market segments:
By Application
- Indoor
- Outdoor
By Pixel Pitch
- Indoor Pixel Pitch
- Outdoor Pixel Pitch
By Indoor Technology
- COB LED
- IMD LED
- SMD LED
By Product Category
- Cabinet
- Module
By Region
- Northern
- Southern
- Western
- Eastern
