Digital signage or dynamic signage is an electronic display that advertises contents, television programming, broadcast data, and other content. Digital signs make use of several technologies including LED and LCD. They are found in both public places and private institutions such as retail outlets, restaurants, and corporate environments.
Digital signage depends primarily on hardware components to ensure the delivery of high-quality content. These displays have replaced the traditional small & micro-display screens with huge wall-sized LED and LCD displays, used across various industries. They are designed for such applications that require the vendors to engage their customers or audiences with its wider viewing angle and to extract maximum efficacy from the marketing messages.
According to the study, “Digital Signage Market by Offering (Hardware, Software, and Service), Product (Single Screen Display, Videowall, and Kiosk) and Location (Indoor and Outdoor): Global Opportunity Analysis and Industry Forecast, 2019-2026”. Some of the key companies operating in the global digital signage market are NEC Corporation, LG Electronics, Sony Corporation, Samsung Electronics, ViewSonic Corporation, Panasonic Corporation, Volanti Displays, Koninklijke Philips N.V., iSEMC (HHSD), and Planer System Inc.
Based on offering, the digital signage market is categorized into software, hardware, and services. Based on the product, the market is categorized into a video wall, single-screen display, and kiosk. Among these products, the kiosk segment is expected to witness the highest growth owing to the rise in the adoption of digital kiosks in the retail industry during the forecast period. These digital kiosks are also used for check-in, billing, ticketing, and other applications banking or other sectors. Based on location, the market is categorized into in-store and out-store. The indoor segment is further categorized into office entrance, conference room, classroom, park, and others. Based on the content category, the market is categorized into sports, news, health & wellness, weather, and vertically oriented content. Based on the size, the market is categorized into below 32 inches, 32 to 52 inches, and more than 52 inches. Based on technology, the market is categorized into LED, LCD, and projection. In addition, based on end-users, the market is categorized into retail, corporate, stadiums & playgrounds, education, healthcare, transport, government, and others.
The digital signage market is driven by rapid digitalization and a decline in demand for traditional billboards, followed by a rise in demand for bright & power-efficient display panels and an increase in demand for 4K and ultra-HD devices. However, deployment of wide screen alternatives such as projectors may impact the market. Moreover, the rise in preference of electronic giants towards large-screen displays and growth in display technology such as micro-LED and quantum dots are key opportunities for the market.
Based on geography, the North-American region holds a major share in the global digital signage market owing to the rise in demand for digital signage across various application sectors due to growth in technological advancements and the presence of a modern customer base in the region. Whereas, the Asian-Pacific region is likely to witness a robust CAGR as a result of a rise in demand for better viewing experience, reducing prices of display panels and growth in the transportation sector over the forecast period. The global digital signage market size was valued at the US $17.23 billion in 2018 and is anticipated to reach the US $32.12 billion in 2026, growing at a CAGR of 8.1% from 2019-2026.
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Electronic Display Market by Technology (LCD, LED, OLED, and Others), by Application (Digital Signage and TV, Smartphone and Tablet, PC Monitor and Laptop, Automotive Display, and Others) for Vertical (Consumer Electronics, Retail, Entertainment, Healthcare, Government, and Others) – Global Industry Perspective, Comprehensive Analysis and forecast, 2017 – 2023
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