Continuous growth in the demand for energy-efficient electronic products, growth in the demand for high-power density, and increase in the demand for single-digit 7 segment displays in various industrial applications are among primary factors fuelling the growth of the single-digit 7 segment LED displays market. Moreover, the penetration of single-digit 7 segment LED displays in industrial applications is also one of the major factors projected to drive the Single-digit 7 segment LED displays Market.
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In past few years, significant growth in electronic displays is one of the major factors driving the single-digit 7 segment LED displays market. Moreover, rapid growth in the semiconductor and electronics industries is expected to have a positive impact on the growth of the single-digit 7 segment LED displays market. Rapid growth in the demand for LED lights & low-power consumption electronics goods and increase in the demand for touch-enabled displays in consumer electronics & devices is also driving the single-digit 7 segment LED displays market. Moreover, increase in the adoption of energy-efficient lighting systems in households as well as outdoor & traffic lighting are among factors fueling the growth of the single-digit 7 segment LED displays market.
Long-life, lower power usage and vibration & shock resistance are among factors owing to which single-digit 7 segment LED displays are ideal for various industries such as medical, industrial and consumer goods. In addition, the demand for electronics devices, coupled with efficient lighting solutions, is fuelling the growth of the single-digit 7 segment LED displays market. In last couple of years, single-digit 7 segment LED displays have gained popularity owing to their advanced properties, which include low power consumption, compact size and low price. At the same time over the last two decades, the technology of electronics has made impressive progress and the latest electronic displays make use of a wide variety of active single-digit 7 segment LED displays. Nowadays, single-digit 7 segment LED displays have become the interface of choice for several applications, such as consumer products, medical devices and industrial & automotive industries. Due to the above-mentioned factors, the demand for single-digit 7 segment LED displays is expected to grow during the forecast period.
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Furthermore, single-digit 7 segment LED displays are suitable for rugged environments and have low current consumption, high brightness & are easy to use, owing to which the demand for single-digit 7 segment LED displays in industrial applications is expected to increase.
Apart from this, growth in the number of modern construction projects, such as shopping malls and multiplexes that deploy LED displays that include LED display matrix, LED billboards & LED video walls, are also some of the factors fuelling the growth of the single-digit 7 segment LED displays market. Moreover, developments in screen dynamics and design flexibility are also among factors driving the single-digit 7 segment LED display market.
However, the growth rate of the single-digit 7 segment LED displays market is expected to witness a fall as well as fluctuation because of different design standards. In addition, worldwide financial uncertainty and macroeconomic situations, such as currency exchange rates and economic difficulties, are some of the major factors hampering the growth of the single-digit 7 segment LED displays market. Moreover, increased competition from alternative technologies and their complex structure is likely to limit the growth of the single-digit 7 segment LED displays market.
Some of the major players in the global single-digit 7 segment LED displays market include Evelight Electronics, Fairchild Semiconductor, Jameco Electronics, Sunrom Electronics, Light-On Electronics, Maxim Integrated, Mitsubishi Electric, MCD Electronics, National Semiconductor, ON Semiconductor and Sunled Corporation.
On the basis of geography, Asia Pacific is a large market for single-digit 7 segment LED displays due to the presence of various single-digit 7 segment LED displays manufacturers and rapid increase in the number of consumer electronic devices in various countries of the region. North America and Europe are also expected to create potential growth opportunities for the single-digit 7 segment LED displays market owing to growth in the adoption of semiconductor products and the demand for energy-efficient single-digit 7 segment LED displays in the regions. Moreover, the demand for single-digit 7 segment LED displays has risen dramatically in past few years in the Middle East & Africa and Latin America regions due to rapid developments in the commercial and industrial sectors.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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