Digital signage is also recognized as dynamic signage. It is an electronic display that advertises contents, television programming, broadcast data, and other contents. Digital signs make use of a variety of technologies including LED and LCD. They are found in both public places and private institutions such as restaurants, retail outlets, and corporate environment. Digital signage depends mainly on the hardware components to make certain the delivery of high-quality content. These displays have replaced the traditional or conventional small & micro-display screens with huge wall-sized LED and LCD displays, used across a range of industries.
As per analysis, “Global Digital Signages Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” the key companies operating in the global digital signages market include Key West Technology, LG Electronics, Microsoft Corporation, Winmate Communication, Omnivex Corporation, ADFLOW Networks, BrightSign LLC, Samsung Electronics, Scala, Polk Audio, NEC Display Solutions, BrightSign LLC, Panasonic Corporation, Winmate Communication, Sony Corporation, NEXCOM, Planar Systems, Sharp, Advantech, Planar Systems, Nanonation and among others.
By type, digital signages market is segregated as Liquid Crystal Diode (LED), rear projection, Ultra High Definition (UHD), Light Emitting Diode (LCD), plasma and others. LCD segment dominates the global market owing to ease of producing LCDs and their lower manufacturing costs. In addition, by application, market is segregated as education, transportation, healthcare, corporate, banking, retail and others. Transportation sector includes different kind of applications of digitized promotions & posters at railway stations, airports, metro stations, and bus stands.
The digital signages market is driven by growth in technological advancements in displays, followed by increase in infrastructure developments in emerging countries, growth in adoption of digital signage in commercial applications and surge in demand for 4K and 8K resolution displays. Apart from this, the deployment of widescreen alternatives for instance projectors may impact the market. Moreover, rise in demand for contactless engagement in COVID-19 era, increase in disruption in retail sector through digital transformation of retail stores into smart stores and growth in demand for smart digital signage triggered by spread of COVID-19 are key opportunities for market. Furthermore, increase in security issues associated with digital signage and developing robust digital signage suitable for harsh environmental conditions are major challenges for global market.
By geography, the North-America is a leading region in global digital signages market owing to presence of dedicated product suppliers, rise in Research & Development (R&D) endeavors by the product manufacturers, high demand for signage in the retail industry and increase in government initiatives to install the digital signage at different offices to maintain the continuous information flow system across the region. The Asia-Pacific and Europe regions are expected to witness higher growth rate due to growth in awareness about the product benefits, increase in disposable income and rise in scope of product application in corporate offices, retail stores, hospitals, and hotels over the forecast period. It is predicted that future of the global digital signages market will be optimistic as a result of rise in demand for digitized promotion of products & services to attract the attention of target audience effectively during the forecast period.
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Ankur Gupta, Head Marketing & Communications