Digital Signage Market Expected To Reach XX Million By 2025
According to a new report published by Reports Monitor titled, “Digital Signage Market By Technology Type, Product Type and Application: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the Digital Signage Marketwas valued at XX billion in 2016, and is projected to reach at XX billion by 2025, growing at a CAGR of XX% from 2017 to 2025. North America account for highest share of the market, and is estimated continue the growth to maintain this trend throughout the forecast period.
Digital signage is a remotely managed digital display typically tied in with sales, advertising and marketing. It is a sub-segment of electronic signage. Digital signage is a network of electronic displays which are centrally managed and individually addressable for the display of text, animated or video messages for advertising, information, entertainment and merchandising to targeted audiences. To display content such as digital images, video, streaming media, web pages, weather data, restaurant menu, or text, Digital displays use technologies such as LCD, LED and Projection. To provide way finding, exhibitions, marketing and outdoor advertising, digital signage can be found in public spaces, transportation systems, museums, stadiums, retail stores, hotels, restaurants, and corporate buildings etc. Broad applicability of digital signage involves promotion, branding & advertising of product or service, navigations, influencing customer behaviour about product or brand making decision, public, product & internal information and reservations among others.
Expanded selection of cutting edge innovation in the business and private segment alongside rising interest for personalized solutions and software is the vital factor driving growth of the digital signage market. Profoundly entering infrastructural headway in rising economies, cost-viability of advanced signage and being atmosphere benevolent lifts the development of the market. Besides, developing prerequisite for adopting high-tech products that need digitalized data administration and direction giving high security leads the market development. Furthermore, up degree and adornment in specialized advancements in digitalization, effectiveness of computerized signage for drawing in targeted customer base, expanding number of business and enterprises indicates the improvement of advanced signage advertise. Nevertheless, lack of standards for interoperability of frameworks and rising pattern of on the web to communicate commercial are probably going to posture obstructions to the market limiting development. Extending interest for digitally available products with superior quality content offer significant development opportunities to major players to have strong foothold within the market.
Key Findings and Scope:
• The global digital signage market was estimated to be XX million in 2016 and predicted to reach XX million with the CAGR of XX% over the forecast period.
• Based on types, the video screen and kiosks accounted for largest share of the market in 2016 followed by the video wall category nonetheless transparent LED screens are foreseen to be the largest growing segment during forecast period.
• Depending upon component, hardware section hold the major market share relatively to others and expected to continue the trend. Software segment follows the hardware component segment with significant market share.
• In application, demand for digital marketing and being effective advertising tactics retail sector dominated the overall industry market in 2016 with highest share of the market. Besides that banking sector is prominently adopting for this technology.
• Technology wise, LCD technology being popular encountered for significant market share in 2016, however LED technology is holding peak and currently growing at accelerated pace.
• Regionally, North America and Europe accounted for the massive share in the market owing to presence of cutting-edge technology. Asia-Pacific is foreseen to be the fastest growing region attributing to increased disposable income and rising awareness among population.
Major Key Players included in the report are: ADFlow Networks, KeyWest Technology Inc, LG Electronics, Microsoft Corporation, NEC Display Solutions Ltd., Panasonic Corporation, Samsung Electronics, Sharp Corporation, The Velvet Principle and Winmate Communication Inc.
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