Digital Signage Market – Overview:
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.
The study indicates that 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 boosts 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. The study indicates that the 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.
The Global Digital Signage Market is expected to grow at USD ~26.3 Billion by 2022, at ~6% of CAGR between 2016 and 2022.
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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Going ahead with the market drivers, Standards are emerging to simplify integration and are developed by experts to ensure high quality, faster, higher resolution systems and easier to use software. The Digital Signage standards make the technology appear more mature. Some of industry standards for machine vision systems are Camera Link standard for interfacing cameras to frame grabbers, which digitize analog video signals. This standard ensures easy integration of these devices, even ones from different manufacturers. Connectors, cables, data format, and control signals are all standardized. The standardization is increasing continuously and driving the machine vision market.
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 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 digital signage (head-up display) industry is fragmented into products, technologies, components, applications, and regions.
Products – Kiosks, Billboards, Signboards, Menu Boards, and Others.
Technologies – LCDs, LEDs, OLEDs, and Front Projection.
Components – Hardware, Software, and Services.
Applications – Entertainment, Transportation, Retail, Healthcare, Banking, Education, Government, and Others.
Regions – Asia Pacific, Americas, Europe, and the Rest of the World.
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