The global Digital Signage Market is anticipated to reach USD 31.71 billion by 2025, expanding at a significant CAGR of 7.9% during the forecast period. Digital signage is also termed as dynamic signage, is an advanced form of silver casting in which multimedia or video content is presented in public places for advertising or informational purposes. It mainly comprises a playback device or computer connected to a bright digital screen like plasma display or LCD. It is exclusively used in banks, schools, airports, office buildings, and others.
The factors that are
playing a major role in the growth of digital signage market are the developing
infrastructure in the emerging countries, acceptance of digital signage in the
commercial sector, the rising use of enhanced technology in display sector, and
the increasing demand for customized software and solutions. However, the
growing trend of broadcast or online advertisement may restrain the overall
market in the years to come. Digital signage market is segmented based on
product type, component, technology, application, and region.
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Video screens, kiosks,
video walls, menu boards, digital posters, and other product types could be
explored in digital signage in the forecast period. The video screens and
kiosks sectors accounted for the majority market share of digital signage and
are estimated to lead the overall market in the years to come. Also, video
walls sector is estimated to grow at the faster pace in the years to come.
Based on components,
services, hardware, and software could classify digital signage in the forecast
period. Services sector comprises consulting, installation, and maintenance
& support services. Software sector comprises a content management system
and edge server software. Whereas, hardware sector comprise mounts, displays,
media players, and projectors. The hardware sector accounted for the
substantial market share of digital signage and is estimated to continue its
dominance in the years to come. Also, the software sector is estimated to grow
at the faster pace in the years to come.
Based on technology,
projection, LCD, LED, and others could classify digital signage in the forecast
period. LCD sector accounted for the substantial market share of digital
signage and is estimated to lead the overall market in the years to come. The
reason could be the rising demand from advertisement & marketing industry
and low manufacturing cost. Also, the LED sector is estimated to grow at the
fastest pace in the years to come.
The market may be categorized
based on applications like industrial, commercial, institutional,
infrastructural, and others could be explored in digital signage in the
forecast period. Commercial sector comprises government, retail, hospitality,
corporate, and healthcare whereas, the institutional sector comprises education
and banking. Also, infrastructural sector comprises entertainment and
transportation.
Globally, North America and
Europe accounted for the majority market share of digital signage and are
estimated to lead the overall market in the years to come. The reason behind
overall market growth could be the presence of key manufacturers in the region
and increasing demand for digitized display in the retail industry. The United
States, Germany and England are well equipped with the infrastructure for
digital signage.
The Asia Pacific is also
estimated to have a positive influence on future growth. It is estimated to
grow at the highest CAGR in the forecast period. Aspects that may be ascribed
to the growth comprise the rising awareness among populace regarding the use of
digital signage and the rising disposable income.
The key players of digital
signage market are Samsung Electronics, Omnivex Corporation, Panasonic
Corporation, Microsoft Corporation, Winmate Communication, Inc., KeyWest
Technology, Inc., LG Electronics, ADFlow Networks, and NEC Display Solutions,
Ltd. These players are concentrating on inorganic growth to sustain themselves amidst
fierce competition.
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