Pune, Maharashtra -- (SBWIRE) -- 12/16/2019 -- Global Digital Signage Market Research Report- Forecast to 2022

Market Highlights

The global market for digital signage can reach a valuation of USD 26.3 Billion by 2022, believes Market Research Future (MRFR).The report by MRFR also mentions that the market can potentially gain a CAGR of 6% between 2016 and 2022, which is considered to be the forecast period.

Primary Drivers and Top Barriers

Digital signage systems are used for getting rid of frequent interoperability and compatibility issues between displays and media players. In addition, digital signage boards have now gained widespread use as arrival and departure boards that are called Flight Information Display Systems (FIDS).

The surge in public infrastructure, new commercial buildings and transport networks, especially in in developing countries is presenting the market with a host of growth opportunities. Digital signage enjoys robust demand in almost every mode of public transportation, which helps gain the attention of all the on-the-go viewers. These systems are used to give the real-time location along with the context awareness associated with traveler information as well as advertising. Besides, digital signage system has almost become a standard in several educational facilities, with corporate campuses as well as schools making extensive use of digital signage systems.

Furthermore, mounting brand awareness combined with the high perception among the worldwide companies regarding this technology is expected to induce market growth in the coming years. On the downside, digital signage boards, due to the fact they need a huge amount of electricity, can be expensive to maintain, which can negatively affect its sale in the years ahead.

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Segmentation:

The worldwide market for digital signage has been categorized into segments like products, technologies, components and applications.

Products mentioned in the report are Billboards, Kiosks, Menu Boards, Signboards, and others.

Technology-wise segregation of the market includes light emitting diodes (LEDs), liquid crystal display (LCDs), Front Projection as well as organic light emitting diodes (OLEDs).

Component-based segments include Software, Services along with Hardware.

With respect to the application, the market covers entertainment, Retail, Transportation, Banking, Education, Healthcare, Government, among others.

Regional Insight

The digital signage market is spread across the primary regions of Asia Pacific (APAC), Europe, the Americas, along with the Rest of the World (RoW).`

MRFR expects North America to be the leading regional market for digital signage, thanks to the high concentration of esteemed vendors, mostly in the United States (U.S.). The regional market also grows on the back of factors like early adoption and rising advancements in the technology. Apart from this, frequent innovations in display technology are also expected to benefit the market in the years to come. Consumer magazines largely constitute the advertising expenditure in the region, out of door marketing picking up pace as prominent trend in the market.

The report reveals that APAC has the potential to demonstrate strong growth in the near future, with the leading markets being Japan, China, and South Korea. APAC is touted to be one of the fastest expanding regions across the globe, with numerous countries outside the region making massive investments in this market. Many of the new vendors in the region have managed to take the industry by storm and cut-throat competition can be expected among the local and foreign companies during the estimated period.

Top Market Vendors

A number of established vendors in the market are striving to expand their base by using advanced, yet cost-effective head-up display methods, which can also help them, perform better. Other than this, sizeable investments are being made by leading players in R&D activities. Some of the leading companies the market that are adopting such strategies include 3M Co., Panasonic Corporation, Ad flow Networks, Omni Vex Corporation and LG Display Co. Ltd., to mention a few.

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Global Digital Signage Market, By Product Type (Kiosks, Billboards, Signboards), By Technology Type (LCD, LED, OLED), By Component Type (Hardware, Software, Service) By Application (Transportation, Retail, Education, Government) - Forecast 2022