In order to study the various trends and patterns prevailing in the overall market for Digital Signage, Market Research Reports Search Engine (MRRSE) has included a new report titled “Digital Signage Market” to its wide online database. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future. Readers can access the regional as well as segment-wise analysis for acquiring precise information about the global market structure.
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The global digital signage market has been envisaged to entertain a neck-and-neck competition among top companies operating in the industry, as per a report published by MRRSE. In the foreseeable future, the competition in the market could be escalated further due to a growing count of companies putting their best foot forward with cost-efficient products. HP, Panasonic, and Cisco could be few of the leading competitors in the market.
According to a MRRSE publication, the global digital signage market could achieve a valuation of US$34.67 bn by the end of 2022 at a CAGR of 10.0% during the forecast horizon 2017-2022. In 2017, the market had attained a valuation of US$21.50 bn. Among high-paying offerings, displays and media players could secure a colossal demand in the coming years. Regionally, North America could be crowned as a market leader for years to come.
Reduced Wait Time and Easy Update of Content Intensify Adoption
The world digital signage market has been foreseen to witness a staggering swell in its valuation due to high attraction of advertisements created with the use of graphic interface on web and digital media. This growth could help vendors to see an exponential rise in their revenue in the near future. The facility of being able to easily update content from the internet onto digital signage, significantly decreasing the real wait and perceived time, has been projected to help vendors gain demand in the market. The public sector and commercial industry could offer a heightened response to the launch of digital signage software and hardware products, thus assisting the market to embrace an improved demand.
Lucrative regions such as North America have been prophesied to increase their growth while leaning on the expanding pool of vendors dealing with industrial equipment and products. The retail industry could be counted as a leading end user of digital signage due to a greater installation of various products that save the printing cost of physical advertisements, draw a more number of customers, and improve customer engagement. While Asia Pacific Excluding Japan (APEJ) could cash in on technological advancements for market gains, Europe has been prognosticated to take advantage of rising government initiatives for installing digital signage in offices.
Arguable Investment Returns and Tall Initial Expenses Hamper Demand
Equivocal returns on investment and expensive initial costs could pave a tough road ahead for players looking to make business in the international digital signage market. Backward compatibility and the lack of undeviating standard for product quality have also been foretold to disturb the momentum of growth in the market for the coming years.
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However, some of the most rewarding prospects have been anticipated to yet show face in the international digital signage market. These could ride on the back of the desperate efforts of end users to reach a broader audience base, substantially elevating the demand for digitally-enabled products boasting of high-grade content quality. The market growth could be positively reflected over by the decreased printing cost and enhanced consumer experience that come with digital signage offerings. Apart from retail, the surging demand for digitalized displays in the banking, financial services, and insurance (BFSI) sector could provide the stimulus for a hefty growth in the market.
Global Digital Signage Market: Segmentation
The study provides a decisive view of the digital signage market by segmenting it on the basis of the display technology, offerings, application, and the regional spread of this market. Based on the offering, the market is categorized into displays, media players, services, software for network, and media revenue. By display technology, the market is bifurcated into LCD, PDP, OLED, LED, front projection, and rear projection. On the basis of application, the market is segmented into the corporate, education, healthcare, entertainment, banking, retail, and the transportation sectors.
The regional segmentation of this market includes North America (Canada and the U.S.), Latin America (Argentina, Brazil, and Mexico), the Middle East and Africa (South Africa, Turkey, Israel, and GCC countries), Asia Pacific excluding Japan (India, China, South Korea, Indonesia, Australia, and Singapore), Europe (the U.K., Italy, France, Germany, Spain, and Nordic countries), and Japan.
The market estimates for this research study have been based on the volume produced, with revenue being determined through the regional pricing trends. The cost for commonly utilized grades of digital signage in each of the applications has been taken into consideration, and customized product pricing has not been included. Demand for digital signage has been derived by analyzing the global and regional demand for digital signage in each application.
Companies Mentioned in the Report
NEC Corp., Advantec Co. Ltd., Panasonic Corp., Cisco Systems Inc., Sony Corp., Omnivex Corp., Sharp Corp., BroadSign International, LG Electronics, and Samsung Electronics Co. Ltd. are the leading players in the global digital signage market.
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