Digital Signage Market worth USD 23 Billion by 2023: Global Market Insights, Inc.

Samsung, LG, AUO, Panasonic, and Innolux accounted for significant LCD panel market share in 2015. Scala was one of the digital signage market leaders in terms of software in the same year.
The Report “Digital Signage Market Size By Application (Banking, Corporate, Education, Healthcare, Retail, Transportation), By Display Technology (LCD, LED, Front Projection), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Europe, APAC, South America, MEA), Application Potential, Price Trends, Competitive Market Share & Forecast, 2012 – 2023”, Latest global digital signage market research forecasts 5.2% CAGR growth from 2016 to 2023.

The global Digital Signage Market is rising at a fast pace owing to the escalating demand for commercial displays, growing company investments for the advancement of digital signage solutions, energy saving, zero paper wastage and  acceptance from government. 

The new research by Global Market Insights announces the report on the global digital signage market. The report evaluates market trends and market dynamics such as restraints, drivers, opportunities and the challenges in the industry.

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Digital signage technology is used across numerous industries for various applications. Depending on the type industry can be classified as software, hardware and services; whereas on the basis of applications, it is categorized into industrial, commercial, infrastructure and institutional. It can be further categorized on the basis of Geography and solution type.

Advantages like cost effectiveness, zero paper waste, dynamic content control, audience engagement, etc. make this a reliable alternative to other advertising media. Significant cost reduction due to innovation in display panel manufacturing methods is forecast to drive the market. 

3D digital signage is now a viable marketing tool in pharmaceutical marketing due to increasing regulations abolishing the use of notepad and pen distribution. Faster and comparatively less expensive products are now being utilized for branding.  

The retail sector is expected to lead global industry size in the predicted period. Healthcare digital signage market size is poised to grow at 7% CAGR in coming years. The banking sector is also increasingly adopting this technology. Projected competition between new entrants and specialized vendors, is expected to lead to product innovation. 

The development in the display technologies also adds to the benefits. LED displays is the most attractive product sector, and is forecast to grow 6% CAGR in expected time frame; whereas LCD displays are projected to have slower growth than the global average. Expansion in screen sizes which need sharper images has resulted in rising demand for digital displays featuring 4K resolution.

Increasing demand across application areas is forecast to positively impact the regional industry. Regional demand across the transportation sector is poised to grow at 7% CAGR in the coming six years.  Some of the top companies accounted for significant LCD panel market share in the report are Samsung, LG, AUO, Panasonic, and Innolux.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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