Driven by the infrastructural developments in emerging economies, the global market for digital signage is exhibiting significant growth potential. The high uptake rate of digital signage hardware and software products in the commercial and the public sectors is also boosting this market substantially.
The digital signage industry has significantly progressed since being considered in the last century. Various innovative trends that have shaped the internet have also transformed digital signage into what it has become today.
According to the latest analysis, due to the constant technological advancements in infrastructure in commercial as well as the public sectors, especially in emerging economies; the global market for digital signage is exhibiting significant growth potential. Market Research Hub (MRH) has freshly broadcasted a study titled “Digital Signage Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017-2022” to its wide repository, which provides a comprehensive analysis of the current as well as future growth prospects for the market.
Moreover, the primary regions are analyzed with the purpose of evaluating the impact of the different factors mentioned in the research report.
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Digital signage is an effective and cost-effective method of marketing made possible by the development of flat screens TV devices such as LCD (Liquid Crystal Display), LED, OLED and plasma. In addition, digital signage screens can be used for the relaying of any number of types of information, such as live weather, news, TV, menus, flights, calendars and adverts.
As per the study findings, the opportunity in this market is projected to worth US$21.50 bn by 2017. The market is further expected to report significantly high growth at a CAGR of 10.0% between 2017 and 2022, reaching a value of US$34.67 bn by the end of 2022.
Digital Signage Market: Segmentation Analysis and Forecast
Presently, in an effort to gain visibility, many companies are centering on their marketing efforts on boosting their page rank position for the keyword "digital signage." The research also analyzes that the reason digital signage has become so popular is that it engages with the audience in a much more effective way than static signage. Moving images, visually striking graphics and the ability to refresh and change the message instantly are the key features of signage screens.
The market for digital signage has been segmented on the basis of the display technology, offerings, application, and the regional spread of this market.
- On the basis of application, digital signage finds an extensive application in the corporate, education, healthcare, entertainment, banking, retail, and the transportation sectors. Demand for digital signage has been derived by analyzing the global and regional demand for digital signage in each application.
- Geographically, key regions highlighted in the study are Asia-Pacific excluding Japan, Europe, North America, Japan, Middle East & Africa, and Latin America. For each regional segment, the market size for future years has been analyzed which is based on revenue and market development between 2017 and 2022.
North America has emerged as the key contributor to the global digital signage market.
- By display technology, the market is bifurcated into LCD, PDP, OLED, LED, front projection, and rear projection.
- Currently, displays and media players are enjoying the most prominent demand among various prime offerings of by digital signage vendors.
- The retail sector has surfaced as the leading end-user of digital signage across the world and is projected to remain as the key contributor to the market over the next few years.
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Continued Leadership of North America on Global Digital Signage Market
North America, the Middle East and Africa (MEA), Europe, Latin America, Asia Pacific excluding Japan (APEJ), and Japan are the main regional markets for digital signage across the world. With the presence of state-of-art technological infrastructure, North America has emerged as the key contributor to the global digital signage market.
The increasing pool of dedicated vendors of industrial products and equipment and the rising demand for digitized displays in the retail and the BFSI sectors are anticipated to strengthen the North America market for digital signage over the next few years. Expanding at an impressive CAGR of 11.10%, this regional market is projected to retain its position over the period from 2017 to 2022.
Amongst other regional markets, Asia Pacific excluding Japan and Europe are also reporting a steady surge in the valuation of their respective markets for digital signage. The increasing research and development efforts taken by manufacturers in the U.K.
and Germany, in a bid to enhance the quality of the content, and the rise in initiatives by various European governments for the installation of digital signage in offices in order to maintain a steady flow of information are predicted to propel the Europe market for digital signage in the years to come. The APEJ market will gain considerably from the advancements in technology, especially in China, South Korea, and India.
NEC Corp., Advantec Co. Ltd., LG Electronics, BroadSign International, Panasonic Corp., Sony Corp., Omnivex Corp., Cisco Systems Inc., Sharp Corp., and Samsung Electronics Co. Ltd. are the leading players in the global digital signage market.
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