ID: MRFR/SEM/0596-HCR | February 2021 | Region: Global | 100 pages
Digital signage can be referred as electronic signage. A signage is the design or a group of signs and symbols used for marketing. Digital signs use technologies such as LCD, LED and projection to display content such as digital images, video, streaming media, and information. Digital signage are found in public spaces, transportation systems, museums, stadiums, retail stores, hotels, restaurants, and others to provide way-finding, exhibitions, marketing and outdoor advertising.
The study indicates that digital signage provides benefits such as no paper waste, audience engagement, overcoming spatial limitations, dynamic content control and cost-effectiveness, targeted content, interactive digital signage and others. These numerous benefits boosts the market. The study indicates that the increasing demand for digital signage in public & commercial sectors along with its cost effectiveness and assured return on investment is driving the digital signage market growth. The study indicates that the rise in demand for infrastructure of in-store digital signage for making brand value, and growing digital technology. However, lack of technical expertise and high initial cost and lack of standardization are the major factors which are hindering the growth of digital signage market.
Global Digital Signage Market is expected to grow at USD 26.3 Billion by 2026, at 6% of CAGR between 2019 and 2026.
Study Objectives of Market
The prominent players in the digital signage market are – Cisco System Inc. (U.S.), Hewlett-Packard Company (U.S.), Samsung Corporation (South Korea), NEC Display Solutions Ltd (South Korea), Bright Sign LLC (U.S.), Panasonic Corporation (Japan), 3M Co.(U.S.), LG Display Co. Ltd. (South Korea), Ad flow Networks (Canada) and Omni Vex Corporation (Canada), among others.
The global digital signage market has been segmented on the basis of product type, technology type, component type, application type and region.
By Product Type
By Technology Type
By Component Type
The regional analysis of digital signage market is being studied for region such as Asia Pacific, Americas, Europe and Rest of the World. North America is expected to dominate the market with the largest market share due to presence of large network which are owned by organization in the region. The study reveals that Asia-Pacific region is expected to show a positive growth in the Digital Signage market during the forecast period. Asia-Pacific countries like China, Japan and South Korea have a fair share in the global market.
Frequently Asked Questions (FAQ) :
The development in display technologies such as LCD, LED, and projection to show content are forecasted to benefit the market.
A 6% CAGR approx. is foreseen to boost the revenues of the market to USD 26.3 Billion by 2022.
The competitors operating the market are Hewlett-Packard Company (U.S.), Bright Sign LLC (U.S.), Samsung Corporation (South Korea), Cisco System Inc. (U.S.) and NEC Display Solutions Ltd (South Korea).
The elevated primary cost and absence of standardization are expected to pose certain restrictions to growth in the coming period.
The North American regions are expected to be motivated to assume the lead position by the presence of a large network in the region.