Digital signage can be referred as electronic signage. A signage is the design or a group of signs and symbols used for marketing. Digital signs use technologies such as LCD, LED and projection to display content such as digital images, video, streaming media, and information. Digital signage are found in public spaces, transportation systems, museums, stadiums, retail stores, hotels, restaurants, and others to provide way-finding, exhibitions, marketing and outdoor advertising.
According to a recent study report published by the Market Research Future, The Global Market of Digital Signage is growing rapidly and expected to grow at USD ~26.3 Billion by 2022, at ~6% of CAGR between 2016 and 2022.
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Digital signage provides benefits such as no paper waste, audience engagement, overcoming spatial limitations, dynamic content control and cost-effectiveness, targeted content, interactive digital signage and others. These numerous benefits boost the digital signage market. The study indicates that the increasing demand for digital signage in public & commercial sectors along with its cost effectiveness and assured return on investment is driving the digital signage market. There is a huge rise in demand for infrastructure of in-store digital signage for making brand value, and growing digital technology. However, lack of technical expertise and high initial cost and lack of standardization are the major factors which are hindering the growth of digital signage market.
Digital signage market is witnessing a prevailing adoption in enterprises as it offers powerful visual communication tools that engages audiences and improves efficiency and reduces operating cost. High quality digital content offer increased return on investments is providing an added impetus across the vertical. Interactive signage kiosks that significantly improve product selection are very popular across the globe, accessing vital information and purchasing in-store driving the demand across the retail industry.
Digital Signage Global Market – Key Players
The global digital signage market is dominated by the leading vendors; however, many local vendors are foraying into the market with low-cost displays, posing fierce competition to the existing providers. As a result, conventional TV panels that are lesser in price are replacing specialized custom products that differentiate the professional displays market. Therefore, established vendors are ushering in unique innovations to withstand the competition in the market.
The prominent players in the digital signage market are – Cisco System Inc. (U.S.), Hewlett-Packard Company (U.S.), Samsung Corporation (South Korea), NEC Display Solutions Ltd (South Korea), Bright Sign LLC (U.S.), Panasonic Corporation (Japan), 3M Co.(U.S.), LG Display Co. Ltd. (South Korea), Ad flow Networks (Canada) and Omni Vex Corporation (Canada), among others.
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Digital Signage Global Market – Segments
The Digital Signage Market is segmented in to 5 key dynamics for the convenience of the report and enhanced understanding;
Segmentation By Product Type : Comprises Kiosks, Billboards, Signboards, Menu Boards, and Others.
Segmentation By Technology Type : Comprises LCD, LED, OLED, Front Projection.
Segmentation By Component Type : Comprises Hardware, Software, and Service.
Segmentation By Application : Comprises Entertainment, Transportation, Retail, Education, Government, Healthcare, Banking, and others.
Segmentation By Regions : Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Digital Signage Global Market – Synopsis
Increasing penetration of flip-chip technique is predicted to propel the digital signage market share. The implementation of the flip-chip ensures improved heat dissipation, minimized LED failure, and improved availability of light angles which result in a favorable digital signage market price trend. The lack of standardization, high initial cost, and awareness about the benefits of the technology may restrain the industry growth.
LED based digital signage market share is anticipated to witness significant growth over the forecast timeline. The incorporation of LED backlit panels due to its energy saving features which diminishes the operational cost of an enterprise may provide opportunities to the industry.
The Global Digital Signage Market is expected to grow at USD ~26.3 Billion by 2022, at ~6% of CAGR between 2016 and 2022.
Digital Signage Global Market – Regional Analysis
The regional analysis of digital signage market is being studied for region such as Asia Pacific, Americas, Europe and Rest of the World. North America is expected to dominate the digital signage market with the largest market share due to presence of large network which are owned by organization in the region. The study reveals that Asia-Pacific region is expected to show a positive growth in the Digital Signage market during the forecast period. Asia-Pacific countries like China, Japan and South Korea have a fair share in the Digital Signage market. An enhanced user experience and favorable application overview are the key factors promoting the industry growth in APAC. Growing demand for digital signage in the transportation segment is predicted to register a a substantial during the forecast period in the region.
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The regional analysis of digital signage market is being studied for region such as Asia Pacific, Americas, Europe and Rest of the World. North America is expected to dominate the digital signage market with the largest market share due to presence of large network which are owned by organization in the region. The study reveals that Asia-Pacific region is expected to show a positive growth in the Digital Signage market during the forecast period. Asia-Pacific countries like China, Japan and South Korea have a fair share in the Digital Signage market.
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