The digital signage market stood around USD 13.2 billion in 2013. It should expand at around 6.1 percent CAGR during 2014 to 2020 (forecast period). The sector of advertisement has changed in the past. The number of conventional advertisement methods has decreased due to interactive promotions/sales on internet, mobiles, and advanced media, like digital signage.
Since its development, the digital signage market has seen different stages and is one of the strongest information display media. Digital signage refers to any electronic display for telecasting T.V. programs, advertisements, menu, etc. It integrates LCDs, plasma displays, and their likes. The technology is also utilized in private & public spaces including retail outlets, food joints, hotels, and corporate companies, among others.
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Considerable expansion in the sectors of academics, retail, and conveyance would be the key market propeller. Additionally, technological growth in emerging nations on account of fiscal expansion is anticipated to drive market sales in the years ahead. The digital signage market is trifurcated on the basis of applications, technologies, and geographies.
The applications are academics, retail, banking, conveyance, corporate, medical, and others. Enhanced demand across these segments propels the market. ‘Others’ comprises telecommunication, public, hospitality, industrial, and leisure. Technologies across the ‘others’ application encompass LCD displays, LED displays, and front projections.
Based on technologies, the digital signage market is split into LEDs, UHDs, LCDs, and others. Growth across these technologies furthers market demand. Incorporation of biometrics across digital signage should offer prospects to the market. The usage of these technologies result in infrastructural growth, customer-friendly experience, and reduced display panel costs.
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All these factors are predicted to have a positive market impact. On the other hand, less or no awareness regarding digital signage may hinder the market. Also, huge preliminary investments, power problems, inadequate assistance from enterprise capital firms, and inconsistencies could obstruct the digital signage market over the forthcoming years.
Geographical segments entail Europe, Asia Pacific, North America, and rest of the world. Europe and North America will display significant expansion due to infrastructural developments and state-of-the-art technologies in these regions. North America is the biggest digital signage market. Asia Pacific is projected to grow notably, deeming its financial conditions.
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