Digital Signage Market Experiences a Noticeable Growth with $19.44 Billion by 2027, at a CAGR of 4.3% | Pre & post COVID-19 market estimates

According to a new market research report titled, “Digital Signage Market by Product Type (Videowall, Kiosk, Menu boards & Billboards) by Component (Hardware (Display (LCD, LED & OLED)), Services), by Application, by Industry Vertical (Retail, Hospitality, Entertainment, Transportation, Corporate, Healthcare) – Global Forecast to 2027” the digital signage market is expected to grow at a CAGR of 6.4% from 2019 to 2027 to reach $26.3 billion by 2027.

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Impact of COVID-19 on Digital Signage Market

The ongoing COVID-19 outbreak has adversely affected the display industry with manufacturing operations temporarily suspended across major manufacturing hubs, leading to a substantial slowdown in the production. Due to increasing restrictions on public gatherings and travel, people are becoming far more isolated as well. Players operating in the digital signage market are also feeling the impact of the COVID-19 pandemic due to supply chain disruptions and stock market volatility. Some of the key display manufacturers including Samsung, LG Display, and Xiaomi among others have suspended their manufacturing operations in China, India, South Korea, and European countries. In addition to the impact on production activities, the ongoing pandemic has taken a toll on the consumer demand as well for display integrated devices, likely exacerbated by the lockdown imposed across major countries.

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Key questions answered in the report-

Which are the high growth market segments in terms of the product, component, application, industry vertical, and countries?
What is the historical market for digital signage across the globe?
What are the market forecasts and estimates from the period of 2020-2027?
What are the major drivers, restraints, and opportunities in the global digital signage market?
Who are the major players in the global digital signage market and what share of the market do they hold?
Who are the major players in various countries and what share of the market do they hold?
How is the competitive landscape?
What are the recent developments in the global digital signage market?
What are the different strategies adopted by the major players in the market?
What are the geographic trends and high growth countries?
Who are the local emerging players in the global digital signage market and how do they compete with the other players?

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The global digital signage market is consolidated and dominated by few major players, namely LG Electronics, Inc. (South Korea), Samsung Electronics Co., Ltd. (South Korea), Shanghai Goodview Electronics Co., Ltd. (China), Intel Corporation (U.S.), Hewlett Packard Company (U.S), Cisco Systems, Inc. (U.S), NEC Corporation (Japan), Sony Corporation (Japan), Hitachi, Ltd. (Japan), Panasonic Corporation (Japan), Sharp Corporation (Japan), AU Optronics Corporation (Taiwan), Leyard Optoelectronics Co., ltd. (U.S), Delta Electronics, Inc. (Taiwan), and Barco NV (U.S), among others.

The report also includes an extensive assessment of the key strategic developments adopted by the leading market participants in the industry over the past 4 years (2016–2019). The digital signage market has witnessed several product launches in recent years. For instance, in February 2019, NEC Display Solutions Inc. announced the launch of a major extension to its range of Direct View LED (dvLED) solutions for indoor and outdoor signage, as well as meeting room applications.

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The overall digital signage market study presents historical market data in terms of value (2017 and 2018), current data (2019), and forecasts for 2027. The market is segmented on the basis of product type, component, application, industry vertical, and geography. The study also evaluates industry competitors and analyses the market at a country level.

North America region is estimated to command the largest share of the global digital signage market in 2020, followed by Europe, Asia Pacific, Latin America, and the Middle East and Africa. However, Asia-Pacific region is expected to witness rapid growth during the forecast period. Asia-Pacific region is expected to witness rapid growth during the forecast period. The region has a large number of young and tech-savvy population which is the target population for digital signage. With increasing disposable incomes, this population is increasingly embracing the new technologies made available in the market. Owing to this, Asia-Pacific is ranked as the fastest-growing regional market in the global digital signage market. Japan, China, and India are the major revenue generating countries in the APAC digital signage market on account of technological advancements and infrastructural development.

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Key questions answered in the report:

What is the digital signage market size and at what rate it is expected to grow from 2020 to 2027?

Which are the largest and fastest-growing component segments of the market?

Which is the high growth end-use segments in the global digital signage market?

What are the major drivers of the digital signage market?

What are the major restraints of the global digital signage market?

What are the major opportunities in the global digital signage market?

Who are the major players operating in the global digital signage market?

Which are the high growth countries/regions in the market?

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