Digital Signage Market worth $23.76 Billion by 2020.
PST Amstelveen, January 2016
The digital signage market has been gaining momentum over the last few years. This is mainly attributed to the rise in the demand for self-service systems and the increasing adoption of digital signage over other advertising media. Potential growth opportunities are also expected for the newly emerging telecom providers and manufacturing sectors in the market. However, the lack of standards for interoperability between devices and the lack of awareness of the benefits of digital signage among the end users confine the growth of the market. The digital signage providers also need to work on adopting innovative approaches to acquire new customers and retain the existing ones.
The major players in global digital signage market are NEC Display Solutions (Japan), Samsung Electronics Co. Ltd (South Korea), LG Display Co., Ltd. (South Korea), Sharp Corporation (Japan), Sony Corporation (Japan), Panasonic Corporation (Japan), AU Optronics Corp. (Taiwan.), Planar Systems, Inc. (U.S.), Adflow Networks (Canada), and Omnivex Corporation (Canada).
Global Digital Signage Market (2013–2020)
Note: H= Historical year A=Actual year, E=Estimated year, and P=Projected year Source: Markets and Markets Analysis
The global digital signage market is expected to grow at a CAGR of 8.18% between 2015 and 2020. In the global market, the commercial application is the major application, followed by the infrastructural application. In terms of region, APAC is the market leader, followed by Europe.
There is a growing demand for high brightness displays in various sectors, especially retail and hospitality, as it helps them to attract the targeted customers. APAC is expected to grow at the highest CAGR of 9.34% between 2015 and 2020, mainly owing to the presence of a large number of companies in the digital signage supply chain in this region such as AU Optronics (Taiwan), LG Display Co., Ltd. (South Korea), Panasonic Corp. (Japan), Samsung Electronics Co., Ltd. (South Korea), Sharp Corporation (Japan), and others who provide innovative solutions to address the demands of the end users for the digital signage application. There are also tremendous growth opportunities for the overall digital signage market in South Korea, China, and Canada.
The concept of digital signage emerged due to the increasing need to attract customers by showcasing the product portfolios or the services to the customers. Many applications evolve at a very rapid pace, which requires the advertising content to be continuously updated. This is difficult in case of print advertising, as it is quite expensive and also unreliable as it is short-lived, and susceptible to damage. Digital signage overcomes this problem by implementing large displays with high brightness and various sizes as per the requirement of different applications such as retail, transport, hospitality, and so on. In-store advertising, touch screen kiosks, and increasing return on investment, and the increasing awareness regarding the benefits of digital signage are helping the digital signage to grow in the market. The advancements in the display technologies such as LED, LCD, and OLED also contribute to enhancing the benefits of digital signage.
However, as in the case of any advanced technologies, these solutions also involve issues such as software glitches, non-compatibility issues, connectivity issues, radio or electrical interference, and so on. Several initiatives are being taken by the industry players to overcome these issues and provide a highly effective solution for end users. The global digital signage market is expected to grow from $14.63 Billion in 2014 to $23.76 Billion in 2020, at a CAGR of 8.18% between 2015 and 2020. The global digital signage market is growing rapidly owing to the increasing demand for commercial displays, increasing investments by companies for the development of digital signage solutions, acceptance from government, prevention of paper wastage, and energy saving.
The global digital signage market report describes the market trends, drivers, and challenges with respect to the digital signage market and forecasts the market to 2020, based on types, application, and geography. This global report gives a bird’s eye-view of the market across the geographies including North America, Europe, Asia-Pacific, and RoW (Rest of the World). North America is the largest geography in terms of the global digital signage market size and this trend is expected to continue till 2020, with the U.S. occupying the major market share. North America comprises U.S., Canada, and others. APAC and Europe are also considered as promising markets, with Germany and the U.K. in Europe, and Japan and South Korea in APAC expected to have the highest rate of growth.
The competitive landscape of the market provides valuable information about the players in the digital signage market. The global digital signage market report profiles 10 promising players in the market and further explains their business overview, product portfolio, recent developments, and key strategies adopted. The market is witnessing new product developments, partnerships, agreements, and expansions across the value chain and between the companies.
The major players in the global digital signage market are NEC Display Solutions (Japan), Samsung Electronics Co. Ltd. (South Korea), LG Display Co., Ltd. (South Korea), Sharp Corporation (Japan), Sony Corporation (Japan), Panasonic Corporation (Japan), AU Optronics Corp. (Taiwan.), Planar Systems, Inc. (U.S.), Adflow Networks (Canada), and Omnivex Corporation (Canada).
Digital Signage Market by Type (Hardware (Displays, Media players, Projectors), Software, Services (Installation & Maintenance)), Application (Commercial, Infrastructural, Institutional, Industrial) & Geography - Global forecast to 2020 By: marketsandmarkets.com