According to a recent report, the digital signage market size is projected to attain USD 31.71 billion and is likely to expand at a CAGR of 8.0% from 2019 to 2025, owing to increasing demand from end-use industries, including retail and healthcare. In terms of shipments, the digital signage market was estimated at 3,500 thousand units in 2018 and is anticipated to reach 6,451 thousand units over the forecast period. As the Covid-19 lockdowns ease, more and more companies have flocked to the web to create opportunities for their businesses using digital signage to connect with consumers in the post-Covid world.
Industry players are leveraging this technology beyond just entry control, room scheduling, and hotdesking. It enhances the visitor experience by ensuring safety at all touchpoints within the building. Hotdesking controls room booking and wayfinding in tandem to communicate availability on-screen with real-time, easy-to-update, color coded mapping, thus, helping occupants with fewer touchpoints. Digital displays with 4K technology address the growing demand for sharp images. Software providers have been targeting new entrants by designing solutions compatible with Android OS. The emergence of IoT, coupled with increasing adoption of cloud computing, is expected to enable the collection of vital operational and marketing data.
Digital Signage Market Report Suggest:
• New service and product launches are set to drive the market growth. For instance, LG’s Transparent OLED Automatic Door, offers touchless access to buildings, which has emerged as an attractive option to consumers during the COVID-19 crisis.
• Based on types, video walls segment dominated the market, accounting for the largest revenue share share in 2018 and is expected to continue this trend over the forecast period.
• Based on components, hardware components was the leading segment 2018 and consists of displays, components required to manufacture displays, digital panels, and banners, among others.
• Based on the application, retail sector was leading in terms of market share in 2018 as it has the highest demand for digitized advertisements for promoting and marketing products and services.
• North America and Europe will collectively lead the global market over the forecast period owing to the increasing presence of dedicated product suppliers in the retail industry.
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Digital Signage Market Segmentation
Grand View Research has segmented the global digital signage market on the basis of type, component, technology, application, location, content, size, and region:
Digital Signage Type Outlook (Revenue, USD Million, 2014 – 2025)
• Video Walls
• Video Screen
• Transparent LED Screen
• Digital Poster
Digital Signage Component Outlook (Revenue, USD Million, 2014 – 2025)
Digital Signage Technology Outlook (Revenue, USD Million, 2014 – 2025)
Digital Signage Application Outlook (Revenue, USD Million, 2014 – 2025)
• Stadiums & Playgrounds
Digital Signage Location Outlook (Revenue, USD Million, 2014 – 2025)
Digital Signage Content Category Outlook (Revenue, USD Million, 2014 – 2025)
• Health & Wellness
• Vertically Oriented Content
Digital Signage Size Outlook (Revenue, USD Million, 2014 – 2025)
• Below 32 Inches
• 32 to 52 Inches
• More than 52 Inches
Digital Signage Regional Outlook (Revenue, USD Million, 2014 – 2025)
• North America
• The U.S.
• The U.K.
• Asia Pacific
• South America
• Middle East & Africa
List of Key Players of Digital Signage Market
• Omnivex Corporation
• Microsoft Corporation
• KeyWest Technology, Inc.
• ADFlow Networks
• NEC Display Solutions, Ltd.
• LG Electronics
• Winmate Communication, Inc.
• Panasonic Corporation
• Samsung Electronics
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Browse More Related Report:
Electronic Display Market: The global electronic display market size was valued at USD 313.5 billion in 2014. Technological advancements, expansion of the consumer electronics industry, and increasing applications across different end-use segments are expected to drive the global market growth.
Volumetric Display Market: The global volumetric display market size was valued at USD 135.5 million in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 28.5% from 2019 to 2025.
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