Press release
Global Digital Signage Market Projected to Grow at an Impressive CAGR of 10% Through 2022
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Digital signage is an effective and cost-effective method of marketing made possible by the development of flat screens TV devices such as LCD (Liquid Crystal Display), LED, OLED and plasma. In addition, digital signage screens can be used for the relaying of any number of types of information, such as live weather, news, TV, menus, flights, calendars and adverts.
As per the study findings, the opportunity in this market is projected to worth US$21.50 bn by 2017. The market is further expected to report significantly high growth at a CAGR of 10.0% between 2017 and 2022, reaching a value of US$34.67 bn by the end of 2022.
Digital Signage Market: Segmentation Analysis and Forecast
Presently, in an effort to gain visibility, many companies are centering on their marketing efforts on boosting their page rank position for the keyword "digital signage." The research also analyzes that the reason digital signage has become so popular is that it engages with the audience in a much more effective way than static signage. Moving images, visually striking graphics and the ability to refresh and change the message instantly are the key features of signage screens. The market for digital signage has been segmented on the basis of the display technology, offerings, application, and the regional spread of this market.
On the basis of application, digital signage finds an extensive application in the corporate, education, healthcare, entertainment, banking, retail, and the transportation sectors. Demand for digital signage has been derived by analyzing the global and regional demand for digital signage in each application.
Geographically, key regions highlighted in the study are Asia-Pacific excluding Japan, Europe, North America, Japan, Middle East & Africa, and Latin America. For each regional segment, the market size for future years has been analyzed which is based on revenue and market development between 2017 and 2022. North America has emerged as the key contributor to the global digital signage market.
By display technology, the market is bifurcated into LCD, PDP, OLED, LED, front projection, and rear projection.
Currently, displays and media players are enjoying the most prominent demand among various prime offerings of by digital signage vendors.
The retail sector has surfaced as the leading end-user of digital signage across the world and is projected to remain as the key contributor to the market over the next few years.
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Competitive Landscape
NEC Corp., Advantec Co. Ltd., LG Electronics, BroadSign International, Panasonic Corp., Sony Corp., Omnivex Corp., Cisco Systems Inc., Sharp Corp., and Samsung Electronics Co. Ltd. are the leading players in the global digital signage market.
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