Digital Signage Market Outlook, Growth by Top Company, Region, Application, Driver, Trends & Forecasts by 2020
The digital signage market was valued at USD 16.88 billion in 2015 and is expected to reach USD 27.34 billion by 2022, at a CAGR of 6.7% between 2016 and 2022. The digital signage market is driven by factors such as the growth of commercial displays over consumer displays in digital signage, and cost effectiveness & assured return on investment. In addition, the rising demand of OLED-based displays and improvements in technology offerings & infrastructure expansions across the globe is driving the demand for digital signage systems.
The report ” Digital Signage Market by Product (Kiosks, Menu Boards, Billboards, Signboards), Offering (Hardware (Display Panels, Media Players, Projectors), Software, And Services), Application, And Geography – Global Forecast to 2022 “, analyses and studies the major market drivers, restraints, opportunities, and challenges in the emerging nations.
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“Digital signage expected to gain maximum traction in the commercial application, during the forecast period”
Digital Signage Market Drivers
- Growth of commercial displays over consumer displays in digital signage
- Cost effectiveness and assured return on investment
- Increasing need of reducing the wastage of paper and being environment-friendly
- Rising demand of OLED-based displays
- Improvements in technology offerings and infrastructure expansions
Digital Signage Market Restraints
- Lack of standards for interoperability between devices
Digital Signage Market Opportunities
- Exploration of interactive capabilities of digital signage systems
- Growth in emerging display technologies
- Growth in the demand for signage solutions in retail, hospitality, and government sectors
- Increased focus on R&D activities in the digital signage industry
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Digital Signage Market Challenges
- Developing equipment suitable for all weather conditions
The commercial application sector is expected to hold the largest share of the digital signage market by 2022; this market would grow at the highest rate between 2016 and 2022. The major reason behind the growth of the market for commercial application is the rising implementation of displays for advertising.
“Increasing demand for digital signage in public & commercial sectors along with improvements in technology offerings & infrastructure expansions driving the digital signage market”
North America is estimated to hold the largest share of the digital signage market in 2015, whereas APAC is expected to register the highest CAGR. The increasing development in commercial, infrastructural, and institutional applications would create demand for digital signage in the APAC region.
“APAC expected to register highest growth rate in the digital signage market during the forecast period”
In the process of determining and verifying the market size for several segments and sub segments gathered through the secondary research, extensive primary interviews were conducted with key people.
The breakdown of the profile of primary participants is given below:
• By Company Type: Tier 1 – 23%, Tier 2 – 34%, and Tier 3 – 43%
• By Designation: C-Level – 35%, Directors – 29%, and Others – 36%
• By Region: North America – 45%, Europe – 26%, APAC – 17%, and RoW – 12%
Digital signage is one of the most promising and upcoming media in the field of information and advertising network. Technological innovations such as touchscreen technology, near field communication, and so on have created opportunities for this market.
Key players in digital signage market profiled in the report are as follows:
1. ADFLOW Networks Inc. (Canada)
2. AU Optronics Corporation (Taiwan)
3. LG Display Co., Ltd. (South Korea)
4. NEC Display Solutions Ltd. (Japan)
5. Omnivex Corporation (Canada)
6. Panasonic Corporation (Japan)
7. Planar Systems, Inc. (U.S.)
8. Samsung Electronics Co., Ltd. (South Korea)
9. Sharp Corporation (Japan)
10. Sony Corporation (Japan)
The report would help leaders or new entrants in this market in the following ways:
1. This report segments the digital signage market comprehensively and provides the closest approximations of the market size numbers for the overall market and the sub segments across different applications and regions.
2. The report helps stakeholders understand the pulse of the market and provides them information on key drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders better understand competitors and gain insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions
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