Digital Signage Market Worth $246 Billion By 2025
In 2012, the Global Digital Signage
Market was valued around USD 12.50 billion and is anticipated to reach
approximately USD 21.46 billion while maintaining a compound annual growth rate
(CAGR) of 4.98% during the forecast period owing to rising demand for the
digital advertising of services and products in order to draw the target
audience’s attention in an useful manner. The development of innovative
products like leak detector systems, home monitoring systems, etc. together
with complex monetary products like forex cards that require succinct and
informative advertisement matter are few of the driving factors that are
expected to fuel the digital signage demand. Additionally, there is an increasing
demand for implementing superior products that need digitized information
guidance and management which can be accessed from distant locations. This is
among the major drivers projected to drive the global market during the
forecast years. Digital signage presents the essential quality information to a
huge amount of viewers by using big display screens around the location with a
focused target audience. Eventually, the rising awareness amongst the consumers
about the complexity and drawbacks of conventional advertising like short-lived
print marketing is prompting the adoption of digitized advertisement. Moreover,
the novel efforts contributed by the researchers, display designers, and
promotion agencies are spending extra on the development of the display
technology of digital signage. So, all these factors are consecutively
anticipated to boost the growth of the global market. With the evolution of
LED, OLED, LCD, and Super AMOLED as well as the innovations in display
technologies, is fortifying market growth further. These technologies have
contributed to the improvement of the advertisement content quality, hence
impacting the target audience positively. The implementation of these
sophisticated technologies by digital poster suppliers in display systems is
estimated to fuel the global market growth. Though, the factors like hardware
and software compatibility, electrical interface, connectivity, and networking
are some general issues expected to hamper the smooth growth of the market.
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According to applications, the global market is classified
into corporate, retail, banking, education, transportation, and healthcare
sectors. In 2016, the retail sector reported for the highest market share. The
retail section is the most important sector requiring digital advertisements so
as to promote and market services and products. The rivalry between the retail
merchants due to the range of product benefits in the market has contributed to
the increasing awareness levels regarding efficient marketing strategies.
Hence, digital posters are used widely by the retailers since digitized advertising
is an efficient approach to promoting a product, which draws the consumers’
attention. Further, the banking segment is another important use of this
technology. This is assigned to the wide existence of ATMs, banks, and other
bank-related facilities like e-banking centers. This sector is expected to show
growth at a stable pace and must keep on bestowing constantly to the global
market share. The transportation segment involves the application of digital
posters & promotions at railway stations, airports, bus stands, and metro
stations. Due to rising improvement in the transportation sector and the
increasing urbanization in developing nations, the advertisement market is
anticipated to expand, eventually boosting the growth of the global market.
Europe and North America are jointly
anticipated to lead during the forecast years owing to the rising presence of
committed providers of industrial products and equipment. Additionally, the
digitized display demand in the retail market is rising at a significant rate
in these areas, which is driving the growth of global industry further.
Countries like Germany, United Kingdom, and the United States are anticipated
to demonstrate major growth, mainly due to growing R&D efforts contributed
by manufacturers in an attempt to improve the advertising content quality.
Moreover, augmented governmental initiatives to install digital signage in
offices in order to retain constant information stream is yet again expected to
propel the growth of the region. Though, the Asia-Pacific regional market is
projected to conquest the European regional market by 2022. This expansion of
the European market is assigned to the rising awareness levels amongst the
regional population concerning digital signage benefits. India, South Korea,
and China are predicted to show significant growth, mostly owing to the rising
applications over offices, hospitality industry, hospitals, banks, and the
retail stores. Also, the growing transportation segment in the Asia-Pacific
regional market is expected to drive the market growth further. The increasing
disposable earnings of the region’s population have contributed to a rise in a
number of visitors to multiplexes and malls in the developing economies of
Asia-Pacific region. Hence, market players are leveraging these opportunities
with the intention of promoting their product benefits by utilizing of big
displays, sequentially helping them to draw the objective audience in an
efficient way.
Major
Market Players:
Ø
Microsoft Corporation
Ø
Omnivex Corporation
Ø
Key West Technology, Inc.
Ø
NEC Display Solutions, Ltd.
Ø
ADFlow Networks
Ø
Winmate Communication, Inc.
Ø
LG Electronics
Ø
Samsung Electronics
Ø Panasonic
Corporation
The global digital
signage market is segmented as follows
By Type
- Video Walls
- Transparent LED Screens
- Video Screens
- Kiosks
- Digital Posters
- Other Signage Types
By Component
- Software
- Hardware
- Services
By Technology
- Projection
- LED
- LCD
By Application
- Corporate
- Retail
- Transportation
- Banking
- Education
- Healthcare
By Location
- Out-store
- In-store
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