The global digital signage market is projected to reach USD 29,939.6 million by 2024, according to a new study by Grand View Research, Inc. Growing demand from end-use industries such as retail and healthcare is expected to drive industry growth over the next eight years. Creating and distributing content via digital signage serves as an effective marketing strategy for enterprises as it has a capability to reach large audience. This is anticipated to spur adoption particularly in the corporate sector. Larger screen sizes such as those over 50-inch displays are anticipated to gain popularity over the forecast period.
Digital displays with 4K technology is on the rise to address growing demand for image with high sharpness . Software providers have been targeting the new entrants by designing solutions compatible with Android OS. The emergence of IoT paired with increasing adoption of cloud computing is expected to enable collection of vital operational and marketing data. Use of digital signage drops the company’s long term operational cost by reducing the use of paper for advertising and incorporation of LED backlit panels have resulted in considerable energy savings which reduces the operational cost of an enterprise.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/digital-signage-market
Further key findings from the study suggest:
·
Digital signage based on LCD technology
dominated the global display industry in 2015 and accounted for over 50% of the
overall revenue in the same year. Decline in the prices coupled with the
advantages offered by this technology over alternatives such as plasma display
is projected to fuel the LCD-based digital signage over the forecast period.
·
Retail accounted for over 40% of the total
revenue in 2015 and is projected to remain the largest application segment over
the next eight years. The healthcare sector has significant potential as
hospitals have increasingly incorporated digital signage for numerous purposes
such as sharing important registration information, display notifications, and
conveying wellness tips for improving patients’ health.
·
Transparent LED screen is expected to witness
significant growth owing to its energy efficiency capability and sophisticated
design offering more than 80% transparent screen. Kiosks are significantly used
in several application area primary such as the distributing terminal and is
anticipated to account for more than 22% (in terms of revenue) of the total
market share.
·
Growing number of hardware offerings with 4K-UHD
and 8K displays is anticipated to dominate the component segment. Further, the
surge in need for better sales capability with branding is expected to propel
software demand.
·
North America accounted for the largest market
share i.e. over 35% in 2015; growing demand across application areas due
technologically advanced customer base is expected to favorably impact the
regional market over the next eight years. Factors including demand for
improved viewing experience, educational and government market development,
decreasing price of display panels, and increasing spending on infrastructure
development are likely to spur Asia Pacific market growth.
·
The industry has started showing signs of
consolidation in the wake of a mini spate of M&A (X2O Media’s acquisition
by Barco) and joint ventures (LG Electronics Inc. and MRI). Key vendors in the
9.1-inch and larger LCD panels space include LG Electronics Inc., Samsung
Electronics Co. Ltd., Innolux Corporation and AU Optronics.
Browse more reports of this category by Grand View Research - http://www.grandviewresearch.com/industry/display-technologies
Grand View Research has segmented the global smart textile market on the basis of product, application, and region:
Digital Signage Technology Outlook (USD Million; 2014 - 2024)
·
LCD
·
LED
·
Front Projection
·
Others
Digital Signage Application Outlook (USD Million; 2014 - 2024)
·
Retail
·
Corporate
·
Banking
·
Healthcare
·
Education
·
Transportation
·
Others
Digital Signage Type Outlook (USD Million; 2014 - 2024)
·
Video walls
·
Video Screens
·
Transperant LED Screens
·
Digital poster
·
Kiosks
·
Others
Digital Signage Component Outlook (USD Million; 2014 - 2024)
·
Hardware
·
Software
·
Service
Digital Signage Regional Outlook (USD Million; 2014 - 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
China
o
India
o
Japan
·
Latin America
o
Brazil
o
Mexico
·
Middle East & Africa
For press
release of this report - http://www.grandviewresearch.com/press-release/global-digital-signage-market
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