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Digital Signage Market Size - Industry Analysis, Share, Growth, Trends, and Forecast 2019-2027

Press release   •   Oct 01, 2019 14:31 IST

Digital Signage Market

Various hardware components are used in the installation of a digital signage, such as media players, content management server and one or more display screens. Digital signage are majorly employed in schools, libraries, medical facilities, department stores, office buildings, airports, train stations, bus stations, auto dealerships, banks, and other public venues. The benefit of digital signage is that the data to be displayed can be updated at real time. Additionally, the data can also be compressed for transmission and storage.

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The key players operating within the global digital signage market include Adflow Networks, Cisco Systems Inc., Hewlett-Packard Development Company L.P., Broadsign International, Inc., Brightsign LLC, Nec Display Solutions Ltd., Panasonic Corporation, Omnivex Corporation, Samsung Electronics Co. Ltd, LG Display Co. Ltd, Planar Systems, Inc., Sharp Corporation, and Sony Corporation among others.

The increasing worldwide acceptance of digital signage due to its dynamic nature which allows the content to be updated at real time is one of the major factors driving the market globally. Furthermore, with betterment in quality and decreasing prices of displays, the use electronic displays has risen significantly, thereby propelling the global digital signage market. In addition, the improved and easy user interface of displays is expected to spur the production and adoption digital signage for different uses in various industries. Implementation of digital signage has proved to be eco-friendly as it hinders the use of paper and other non-recyclable products for displays. Additionally, with employment of LED display panels, a significant reduction in the amount of energy spent can be achieved.

The digital signage market is segmented on the basis of components as hardware (such as display, media players, projectors, etc.), software and services. The market is further classified based on display types such as LED, LCD, and OLED among others. In addition, the global digital signage market is classified based on display size into <19 inches, 19 inches to 32 inches, 32 inches to 52 inches and >52 inches. Moreover, the digital signage market is segmented basis of applications into retail, healthcare, corporate, hospitality, government, transportation, entertainment, BFSI, and education among other industries.

The high initial investment for displays and high maintenance costs are factors that hinder the global digital signage market. Additionally, power (electricity) issues, especially at remote locations, hinders the global digital signage market. Moreover, lack of awareness about digital signage and its associated benefits in developing and under-developing nations is another factor restricting the global digital signage market.

The growing demand for high brightness displays in various industries, especially retail, hospitality, and government to attract the targeted audience has opened a wealth of opportunities for digital signage vendors across the globe. Furthermore, emerging communication technology, and touch screen technology among others are expected to significantly boost the global digital signage market during the forecast period.

Geographically, the global digital signage market is segmented into five regions as North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America (SAM). The increasing adoption rate of interactive displays which uses various technological capabilities such as embedded location-based maps, gesture recognition, and interactive dashboards has propelled the mature digital signage market in the U.S. and the U.K. Simultaneously, it has opened opportunities in emerging regions such as APAC & MEA.

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