Driven by the infrastructural developments in emerging economies, the global market for digital signage is exhibiting significant growth potential. The high uptake rate of digital signage hardware and software products in the commercial and the public sectors is also boosting this market substantially. The increasing demand for digitally enabled products with high-quality content to reach a wide audience base is expected to provide lucrative opportunities to the market players in the near future, resulting in an exceptional market growth.
The opportunity in this market is projected to worth US$21.50 bn by 2017. The market is further expected to report significantly high growth at a CAGR of 10.0% between 2017 and 2022, reaching a value of US$34.67 bn by the end of 2022. The increasing number of government initiatives and investments to develop public communication infrastructure will influence this market considerably in the years to come.
Digital signage finds an extensive application in the corporate, education, healthcare, entertainment, banking, retail, and the transportation sectors. The retail sector is reporting a higher installation of digital signage as it enhance customer engagement, attract more customers, and saves printing cost of physical advertisements. The BFSI and the transportation industries are also projected to register a high demand for digital signage in the years to come.
Displays, media players, software for network, services, and media revenue are the prime offerings by digital signage vendors across the world. Currently, displays and media players are enjoying the most prominent demand among these, globally. Researchers predict the trend to remain so over the next few years. LCD, PDP, OLED, LED, front projection, and rear projection are the leading technologies that find application in digital signage products.
North America, the Middle East and Africa (MEA), Europe, Latin America, Asia Pacific excluding Japan (APEJ), and Japan are the main regional markets for digital signage across the world. With the presence of state-of-art technological infrastructure, North America has emerged as the key contributor to the global digital signage market. The increasing pool of dedicated vendors of industrial products and equipment and the rising demand for digitized displays in the retail and the BFSI sectors are anticipated to strengthen the North America market for digital signage over the next few years. Expanding at an impressive CAGR of 11.10%, this regional market is projected to retain its position over the period from 2017 to 2022.
Amongst other regional markets, Asia Pacific excluding Japan and Europe are also reporting a steady surge in the valuation of their respective markets for digital signage. The increasing research and development efforts taken by manufacturers in the U.K. and Germany, in a bid to enhance the quality of the content, and the rise in initiatives by various European governments for the installation of digital signage in offices in order to maintain a steady flow of information are predicted to propel the Europe market for digital signage in the years to come. The APEJ market will gain considerably from the advancements in technology, especially in China, South Korea, and India.
The global market for digital signage is crowded with a number of international and local players, which compete on the basis of technology and price difference. At the forefront of this market is NEC Corp., Advantec Co. Ltd., Panasonic Corp., Cisco Systems Inc., Sony Corp., Omnivex Corp., Sharp Corp., BroadSign International, LG Electronics, and Samsung Electronics Co. Ltd.
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
US Office Contact
90 State Street, Suite 700
Albany, NY 12207
USA – Canada Toll Free: 866-552-3453