Digital Signage Market boosting the growth through 2022

A digital signage can come across as a standalone device or a part of network containing hundreds or thousands of digital signs. It could be centrally managed or have a one-by-one management. Whatever the type of digital signage is, the core components that form a digital signage system include: a display, content management software, content and network.

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Display types such as LCD, plasma and other varieties of flat panel screens, increasingly with touch screen and mobile device interactivity capabilities are commonly used for digital signage systems. Content in digital signage systems is managed with the help of sophisticated digital media players that are capable of managing video graphics, web feeds, images, text and other forms of content. For sourcing real-life data into digital signs or having a central control over the content being displayed, a wired or wireless network such as WAN or LAN is required. The increased preference to digital advertisement modes has led to a vast rise in uptake of digital signages in the past few years and the trend is likely to remain strong in the next few years as well.

According to the report, the global digital signage market will embark upon a promising growth path in the near future, expanding at a lucrative 10% CAGR from 2017 and 2022, rising to a revenue valuation of US$34.67 bn by 2022.

Some of the leading applications of digital signage are found in area such as healthcare, corporate, education, banking, entertainment, retail, and transportation. Of these, the retail industry is presently the leading contributor of revenue to the global digital signage market owing to the high usage of these products for purposes such as digital advertisement, customer engagement, and display of data related to new products and discount schemes, etc. The demand for digital signage is also high across the transportation and BFSI sectors and is expected to make up for a large share of the overall market by the end of the forecast period.

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Based on product type, the report segments the global digital signage market into media players, displays, software for network, medial revenue, and services. Of these, the segments of media players and displays account for the dominant share in the overall market. Over the forecast period, the trend is likely to remain strong. Based on display technology, the report segments the global digital signage market into PDP, LCD, LED, OLED, rear projection, and front projection.

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