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Digital Signage Market Opportunities, Size, Share, Trends, Revenue, Growth and Demand by 2023; LG Display, Planar Systems, Sony, AU Optronics, Omnivex Corporation, Adflow Networks, Samsung Electronics, Panasonic, Sharp and NEC
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Due to advancement in infrastructure and technological advancements in the developed countries such as Europe and North America, the digital signage market is expected to grow at an exponential rate in the coming years. The Asia-Pacific digital signage market is expected to witness the highest growth rate during the forecast period due to growth in business sectors and favorable economic conditions in the region. The developing countries such as India and China are also supporting the growth of signage market in the region due to increasing purchasing power, booming retail sector, and enhanced consumer living standards.
On the basis of applications, the digital signage market can be categorized as infrastructure, industrial, commercial and institutional. The infrastructure application for digital signage market includes entertainment and transportation; commercial application includes corporate, government, retail, hospitality and healthcare; and institutional application includes education and banking.
Increased usage of organic light emitting diode (OLED) based displays in mobile phones and tablets, and growing use of LED backlit panels in digital signage to prevent paper wastage are some of the factors driving the growth of the digital signage market. The highly dynamic nature of digital signage is providing opportunities to the digital signage market to grow in the coming years. Some of the factors restraining the growth of the digital signage market include low awareness about this technology and its benefits to consumers, lack of standards for interoperability between devices, and power related issues of digital signage.
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Some of the competitors in the digital signage market are LG Display Co., Ltd., Planar Systems Inc., Sony Corporation, AU Optronics Corp., Omnivex Corporation, Adflow Networks, Samsung Electronics Co. Ltd., Panasonic Corporation, Sharp Corporation and NEC Display Solutions.
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