LG Electronics announced on the 22nd that it will supply a total of 1,700 square meters of signage to the 'Loiig Arena', a multipurpose stadium set to open in Valencia, Spain, in September.
The Loiig Arena is the largest indoor stadium in Spain, capable of accommodating up to 20,000 people. It is expected to be used as the home ground for the professional basketball team Valencia Basket Club.
A 300-square-meter eye-shaped light-emitting diode (LED) screen, 'The Eye', will be installed on the outer wall of the Loiig Arena, welcoming spectators from the main entrance. Inside, a central scoreboard, a large LED screen measuring 76 meters in width, auxiliary screens behind the stage, and ribbon boards surrounding the arena will also be installed.
LG Electronics is accelerating its strategy in the commercial display market by supplying signage to various sports facilities, ranging from giant stadiums to small sports practice venues in approximately 200 countries globally.
LG Electronics explained that most football clubs in Spain are utilizing the company's signage. A representative example is the home stadium of Atlético Madrid, the 'Wanda Metropolitano', which features high-performance LED screens over 2,000 square meters and LED ribbon boards exceeding 400 meters. At Real Sociedad's 'Reale Arena', LG Electronics supplied over 800 signage items, including scoreboards and ribbon boards, as well as facilities for players.
In 2021, LG Electronics also supplied signage to Wembley Stadium, the largest stadium in the UK with a maximum capacity of 90,000 people. This included a total of 840 square meters, featuring a giant sign measuring 57 meters in width and 7.5 meters in height. LG Electronics' signage has also been installed at 'Etihad Stadium' and 'Ashton Gate Stadium' in the UK, and at 'Deutsche Bank Park' in Germany and 'Jan Breydel Stadium' in Belgium.
LG Electronics also supplied approximately 842 square meters of signage, including the main scoreboard and large ribbon boards, to the Boston Red Sox's home stadium, 'Fenway Park', in the U.S. in April. Earlier this year, ribbon boards were also installed at 'Mercedes-Benz Stadium.'
According to the market research firm Omdia, the global LED signage market, including sports-related facilities, is expected to grow at an average annual rate of about 13.4% until 2029, surpassing 14 trillion won.
Baek Gi-moon, head of LG Electronics' ID Division (executive director), noted, 'LG Electronics is strengthening its business-to-business (B2B) capabilities through differentiated solutions and product lineups in the global signage market' and added, 'We will continue to expand the supply of differentiated commercial display solutions throughout various customer locations, including in the sports sector.'