Digital Signage Market Headed for Growth and Global Expansion by 2022

Market Highlights:

Digital signage can be referred as electronic signage. A signage is the design or a group of signs and symbols used for marketing. Digital signs use technologies such as LCD, LED and projection to display content such as digital images, video, streaming media, and information. Digital signage are found in public spaces, transportation systems, museums, stadiums, retail stores, hotels, restaurants, and others to provide way-finding, exhibitions, marketing and outdoor advertising.

The study indicates that digital signage provides benefits such as no paper waste, audience engagement, overcoming spatial limitations, dynamic content control and cost-effectiveness, targeted content, interactive digital signage and others. These numerous benefits boosts digital signage market. The study indicates that the increasing demand for digital signage in public & commercial sectors along with its cost effectiveness and assured return on investment is driving the digital signage market. The study indicates that the rise in demand for infrastructure of in-store digital signage for making brand value, and growing digital technology. However, lack of technical expertise and high initial cost and lack of standardization are the major factors which are hindering the growth of digital signage market.

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Major Key Players:

  • Cisco System Inc. (U.S.),
  • Hewlett-Packard Company (U.S.),
  • Samsung Corporation (South Korea),
  • NEC Display Solutions Ltd (South Korea),
  • Bright Sign LLC (U.S.),
  • Panasonic Corporation (Japan),
  • 3M Co.(U.S.),
  • LG Display Co. Ltd. (South Korea),
  • Ad flow Networks (Canada)
  • Omni Vex Corporation (Canada)

among others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global Digital Signage market.

According to MRFR, The Global Digital Signage Market is expected to grow at USD 26.3 Billion by 2022, at ~6% of CAGR between 2016 and 2022.

Industry News

A consumer technologies provider, D&H Distributing, has launched an initiative focusing on digital signage and Pro-A/V. The company will help value-added resellers handle large format digital signage, video walls, video conferencing solutions and more.

Market Segmentation:

Segmentation by Product Type: Kiosks, Billboards, Signboards, Menu Boards, Others

Segmentation by Technology Type: LCD, LED, OLED, Front Projection

Segmentation by Component Type: Hardware, Software, Service

Segmentation by Application: Entertainment, Transportation, Retail, Healthcare, Banking, Education, Government, Others.

Regional Analysis:

The regional analysis of digital signage market is being studied for region such as Asia Pacific, Americas, Europe and Rest of the World. North America is expected to dominate the digital signage market with the largest market share due to presence of large network which are owned by organization in the region. The study reveals that Asia-Pacific region is expected to show a positive growth in the Digital Signage market during the forecast period. Asia-Pacific countries like China, Japan and South Korea have a fair share in the Digital Signage market.

Digital Signage Market is growing with the positive growth in all the regions. Increasing application areas on yearly basis and advancement in technology and integration with current manufacturing environment is driving the market on global scale. Asia Pacific regions in dominating the market due to rich presence of manufacturing companies in China, India, Japan, Taiwan and South Korea. The region is also one of the prominent leaders in semiconductor industry and largest exporter around the world. North America stands as second largest market for Digital Signage due to technological advancement and growing IT and semiconductor industry. The region is also home to some of the key players of Digital Signage system. Europe stands as third biggest market for Digital Signage. From the past 10 years, Germany was one of the major developer of machine vision system and the trend continued till the year 2015. Rich automotive industry in this region is one of the biggest driver which is supporting the market of machine vision. Europe Digital Signage market also sees immense potential due to the growing banking, healthcare and foods and beverage industry. 

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Intended Audience

  • Software investors
  • Security solution vendors
  • Digital Signage service providers
  • Value-added Resellers
  • Distributers
  • Investors and Venture Capitalist
  • Security Management Service Provider
  • Security Equipment Providers
  • Security Agencies
  • System Integrators
  • Research/Consultancy firms

LIST OF TABLES

TABLE 1 DIGITAL SIGNAGE MARKET, BY PRODUCT TYPE

TABLE 2 DIGITAL SIGNAGE MARKET, BY TECHNOLOGY TYPE

TABLE 3 DIGITAL SIGNAGE MARKET, BY COMPONENT TYPE

TABLE 4 DIGITAL SIGNAGE MARKET, BY APPLICATION

TABLE 5 DIGITAL SIGNAGE MARKET, BY REGIONS