Digital technologies have not left any sector untouched across the world. The digital signage market is one of these sectors that has emerged as a dominant technology developed with information-sharing abilities. Digital signage serves as an electric display platform, and it is useful in products used in advertising as well as for building brand awareness. The marketing events and exhibitions are constantly using these digital tools for personal growth. Adoption of this technology boosts growth in the digital signage market.
The majority of companies have adopted digital technologies with a motive to connect easily with their customers’ base. These companies can use such platforms for the promotion of newly launched products. So, this is driving growth in the digital signage market. Market insight on the digital signage market has been estimated to rise at a compound annual growth rate of 5.5% during the forecast period from 2019 to 2027. The valuation of the digital signage market is anticipated to grow to reach worth of US$ 28,538.7 Mn by the end of 2027.
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Digital Signage Market – A New Face of Customer Engagement
Digital signage as a dynamic electronic signage platform serves multimedia content for boosting engagement of customers. The digital signage includes a controller for the delivery of a fresh output signal with a digital connection. The output is delivered through an LCD panel or plasma screen. One hard drive is also attached with the signage for the storage of digital content. The internet remote controlling enables the smooth performance of the tasks such as compliance reporting, content updates, and schedule changes.
Digital signage is prominently used for product advertisement through different platforms. Web-based digital signage, IPTV-based digital signage, and standalone digital signage are some options available in the digital signage market, and consumers can opt for any of these as per their requirements. Numerous industries such as entertainment, transportation, banking, sports, retail, education, and hospitality are using digital signage platforms prominently. So, it provides lucrative market opportunities for the market players globally and helps in the expansion of the business. Further, the increasing demand for superior-performance OLED, interactivity and anonymous viewer analytics (AVA) technology is expected to drive the digital signage market.
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Further, the integration of biometric technology and digital signage is gaining traction among many industries. With the aid of this integration, numerous companies are developing products to help in not only tracking heat paths but also enabling their continuous observation. Gaze tracking is helpful to locate crowded areas to signify a larger number of customers. It further helps vendors track customer behavior while serving as an effective marketing tool. All these vast applications of digital signage technology show an increased inclination towards it. As a result, the market is expecting tremendous growth avenues in the near future.
The research report on the digital signage market has studied some key market players such as Redfalcon, Panasonic Corporation, BroadSign International, LG Electronics, Sony Corporation, Quividi SARL, Sharp Corporation, and NEC Corporation.
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Greater Emphasis of Digital Marketing Pursuits to Increase Growth Prospects in Digital Signage Market
The digital tools are widely used in modern marketing techniques and serve as crucial growth contributors in the industry identified through the market insights on the digital signage market. Market research on the digital signage market has determined key technologies like LED, LCD, and others for the display of various types of content such as images, videos, streaming media, information, and others. These play a crucial role in outdoor advertising, transportation systems, videos, stadiums, corporate buildings, hotels, public spaces, and some others. These wide applications in diverse sectors are expected to boost the digital signage market.
To bring innovation in the digital signage market, advertising institutions are creating catchy taglines. Further, the taglines grab the prospective customers attention and finally aids in lead generation. This aspect is expected to bring huge market opportunities in the digital signage market.
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