The digital signage market is expected to grow at a CAGR of 7.51% over the forecast period (2018 - 2023). The scope of the report includes insights on the solutions offered by major players, including providers of hardware, professional services, and integration solutions.
The regions included in this study are North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. The study comprises insights on various end-user-based applications such as commercial, industrial, institutional,.
It also emphasizes on signage products such as kiosks, bill boards, sign boards,.
Key Developments in the Market
• January 2018 - NEC Display Solutions of America, Inc., announced the release of two new projector models, the 30,000 Center (26,000 ANSI) lumen PH2601QL and the 40,000 Center (35,000 ANSI) lumen PH3501QL.
• October 2017 - NEC Display Solutions of America, Inc. launched its new, fully commercial C Series displays, offering customers a slim profile and sleek design at an economical price point.
• September 2017 - NEC Display Solutions of America announced two new bundles for K-12 and higher education customers that combine NEC Display's E Series large format displays with the power of Intel's NUC minicomputer to make collaboration in the classroom easier than ever.
The major players include - NEC DISPLAY SOLUTIONS LTD, PANASONIC CORPORATION, LG DISPLAY CO. LTD, SAMSUNG ELECTRONICS CO. LTD, SONY CORPORATION, SHARP CORPORATION, ADFLOW NETWORKS, INC., AU OPTRONICS CORPORATION, 3M CORPORATION, SCALA INC., CISCO SYSTEMS INC., BROADSIGN INTERNATIONAL INC., OMNIVEX CORPORATION, and STRATACACHE INC., amongst others.
Innovative Content and Real-time Information Sharing Possibility Creates Demand
The growth in transport networks, public infrastructure, and new commercial buildings, particularly in developing economies is creating more opportunities in this market. Digital signage is being used in and on all modes of public transportation to attract the attention of on-the-go viewers, providing real-time location and context awareness related to traveler information and advertising.
Moreover, it is fast becoming a standard in many educational facilities, with schools and corporate campuses facilitating digital signage systems. Digital signage systems also benefit in eliminating the frequent compatibility and interoperability issues between media players and displays.
Furthermore, digital signage boards are being extensively used as arrival and departure boards in airports known as Flight Information Display Systems (FIDS). Along with all these factors, enhancement of brand awareness and perception among the global leaders is expected to drive the growth of the market.
However, digital signage boards require a high amount of electricity, indirectly affecting the maintenance costs. This could hinder the growth of the market.
Commercial Use for the Digital Signage is Experiencing Upward Demand in Emerging Economies
Digital signage offers significant benefits over the traditional signage systems. The information can be changed in real-time.
Multiple types of information can be run on the same display. Companies use these signboards to get attention of passersby towards the products, whether in a busy market or a highway.
In recent times, with device connectivity and AI support, advertising companies have been able to create innovative ideas to introduce new products in the market and educate customers. Recently, Coca Cola introduced a “drinkable” advertisement, on TV and billboards,., of sharing the drink digitally and being able to taste it, which got huge attention.
Such benefits of creating a buzz among the potential customers makes it a favorable destination for end users and create a huge opportunity in the market.
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Table of Content
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Research Methodology
2. Executive Summary
3. Market Insights
3.1 Market Overview
3.2 Industry Value Chain Analysis
3.3 Industry Attractiveness - Porter's Five Force Analysis
3.3.1 Bargaining Power of Suppliers
3.3.2 Bargaining Power of Consumers
3.3.3 Threat of New Entrants
3.3.4 Threat of Substitutes
3.3.5 Intensity of Competitive Rivalry
4. Market Dynamics
4.1.1 Augmenting Demand for OLED Displays
4.1.2 Enhancement of Brand Awareness and Perception
4.1.3 Technological Advancements and Infrastructure Expansions
4.1.4 Cost Optimization & ROI
4.2.1 High Initial Investments
4.2.2 Lack of Standardization
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