As per a new report by Market Research Future (MRFR), the global digital signage market is estimated to touch USD 26.3 billion by 2022. The market is predicted to expand at 6 % CAGR during the assessment period (2016-2022). Digital signage enables the display of multimedia content in urban places and promotes advertisements and awareness. The content is displayed on big digital screens such as OLED, LCD, and LED and is mainly adopted in transportation systems, outdoor advertising, public spaces, exhibitions, hotels, and restaurants.
Digital Signage offers benefit like more audience engagement, no paper waste, dynamic content control, overcoming spatial limitations, targeted content, interactive digital signage, and cost-effectiveness. With the increased demand for digital signage in commercial and public sector along with cost-effectiveness and assured ROI is spurring the digital signage market globally over the forecast period. Moreover, the emergence of innovative products like leak detector systems, home monitoring systems, complicated monitoring products such as forex cards that require informative advertisement are some of the major factors fueling the market growth over the review period. Use of LED, LCD, OLED, and Super AMOLED is predicted to catalyze the overall market.
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Major Key Players:
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),
LG Display Co. Ltd. (South Korea),
Ad flow Networks (Canada) and Omni Vex Corporation (Canada) among others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global Digital Signage market.
According to MRFR, The Global Digital Signage Market is expected to grow at USD ~26.3 Billion by 2022, at ~6% of CAGR between 2016 and 2022.
A consumer technologies provider, D&H Distributing, has launched an initiative focusing on digital signage and Pro-A/V. The company will help value-added resellers handle large format digital signage, video walls, video conferencing solutions and more.
Digital Signage Market Segmentation:
The global digital signage market has been segmented on the basis of technology type, product type, application type, component type, and region.
By mode of product type, the global digital signage market has been sub-segmented into kiosks, billboards, signboards, menu boards, and others. Among these, the segment for kiosks has gained a high market share owing to easy mounting and installation, low price, and connectivity.
By mode of technology, the global digital signage market has been segmented into LCD, LED, OLED, and front projection. Among these, LCD has been extensively used in the marketing and advertising industry and accounts for the largest market share.
By mode of component, the global digital signage market has been segmented into hardware, software, and service. Among these, the hardware component is likely to dominate the industry and is estimated to maintain its dominance over the review period. The hardware component comprises displays, banners, and components needed in manufacturing a digital panel. Compared to software component, the requirement for hardware is high and accounts for the largest market share.
By mode of application, the global digital signage market has been segmented into entertainment, transportation, retail, healthcare, banking, education, government, and others. Among these, the retail segment is more prominent and demands digital advertisements to promote and market products and services. Competition among the retailers due to variety of product offerings has resulted in the growing awareness for effective marketing strategies.
Geographically, the market for digital signage spans across America, Asia Pacific, Europe, and Rest-of-the-World.
North America is anticipated to dominate the market with the largest share owing to the presence of a large network owned by organizations in this region. The increasing demand for digital display in the retail industry has increased in this region which has resulted the market to fuel over the assessment period.
Asia Pacific is also predicted to show positive growth over the review period owing to the growing awareness among the population in this region. India, South Korea, and China are estimated to showcase substantial growth due to the growing applications across banks, retails, offices, hospitality industry, and hospitals.
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- Software investors
- Security solution vendors
- Digital Signage service providers
- Value-added Resellers
- Investors and Venture Capitalist
- Security Management Service Provider
- Security Equipment Providers
- Security Agencies
- System Integrators
- Research/Consultancy firms
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