The Digital Signage Market is predicted to reach revenues worth USD 20.1 billion by 2020, as per a report by Hexa Research. It was worth around USD 13.3 billion in 2013. The market will display 6.1% CAGR from 2014 to 2020. Factors like improved user experience, decreasing prices of display panels, and cost-effective promotion should positively impact the market.
The global digital signage market is anticipated to develop over the forecast period. The advertising segment has witnessed big changes over past few years. Conventional advertisement methods which include print media are facing challenges and are slowly declining due to interactive graphical user interface advertisements on web, digital media such as digital signage and mobile. In the worldwide digital signage market, as its development has undergone a variety of different stages and has been one of the biggest influential media for displaying information.
The market development, infrastructure development, and decreasing price display panels are projected to completely impact the market demand. Increase in (DOOH) digital-out-of home applications has enhanced the range of GPS market and that is estimated to drive the market demand in upcoming period. (OLED) Organic LED base displays utilized in small or medium screen gadgets such tablets, smart phone or mobile phones and others will urge the market development. However, less awareness may create challenges to the market. Further, lack of standardization, power issues, high initial investment, shortage of support from venture capital companies are few factors which can hamper the market
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Main applications for the worldwide digital signage market include education, transportation, corporate, healthcare, and retail. Various companies use the technology for different intentions such as way finding, advertising, promotions, communication, (POT) point of transit, (POS) point of sales, (POP) point of purchase, and infotainment applications Other applications primarily include telecommunication, industry public, leisure and hospitality, industrial, hospitality, and leisure. Technologies covered in this study include LCD display, NED LED display, LCD displays, and front projection.
The digital signage market is divided on the basis of technologies, applications, and geographies. Technologies like LCD, LED, and front projection are expected to propel the market. LCD had lion’s share in 2013, and accounted for more than 50% of the global revenues that year. LED will be adopted in the near future for saving energy.
Developed nations such as Europe and North America are anticipated to witness a major market growth due to technological development and urbanized infrastructure. The biggest digital signage market is seen in U.S. Asia Pacific expected to show most important development due to good financial conditions and development as per above mentioned in business sectors. Developing countries such as India and China among rest are expected to positively impact market expansion due to boosting retail sector, improved customer livelihood and rise in purchase power in these regions.
The market is increasing speedily due to advancements in technology and development of innovative products by many companies. For example, NTT Japan launched digital signs set with aroma producing devices, Intel Corp produced (OPS) open pluggable specifications that help to regulate the design and development of digital signage devices. Major players in digital signage market are Cisco System Inc, Panasonic Corporation, Microsoft Corporation, vIntel Corporation, Polk Audio, ADFLOW Networks, Omnivex Corporation, NEC Display Solutions Ltd, Winmate Communication Inc, Scala Inc, BrightSign LLC, LG Electronics, and Samsung Electronics.
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Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
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