Sellbyville, DE -- (SBWIRE) -- 11/12/2018 -- Digital Signage Market is expected to grow at a CAGR of over 5% to exceed USD 15 billion from 2016-2023 owing to the expansion in infrastructure and technology development. The growing demand for digital products with improved content in order to reach wide audience are expected to drive the digital signage market. Increasing demand from various sectors such as banking, retail, education, and transportation will boost the adoption in the coming years. The ability to assist people with the visual need and enhancement in internal communications will also increase the overall revenue over the forecast timeframe.

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The technology boosts the business growth by ensuring each customer satisfaction by ensuring they receive all the message in time and offers rapid emergency notification. Increasing government expenditure to improve public communication are also proving to be beneficial for the overall industry development. Moreover, integration of big data analytics, data management tools, and dynamic interfaces is expected to augment the demand of digital signage market.

Issues related to the industry such as electrical interference, networking, connectivity and compatibility are expected to hamper the digital signage market growth in the coming years. Moreover, standardization issues may restrain the adoption which will negatively impact the overall industry development.

LCD technology accounted for majority of revenue share in digital signage market owing to declining prices and numerous advantages offered by this technology over alternative including plasma display is predicted to fuel the adoption. Furthermore, OLED segment are expected to witness significant CAGR growth over the period as it supports firm to use money effectively without compromising user appealing experience.

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Healthcare segment in digital signage market are predicted to provide tremendous growth opportunities from 2016-2023 owing to the increasing adoption for various purposes such as display notice, delivering tips to improve patient health and registration information. Banking sector will also grow to deliver messages to customers, product advertisement and customer engagement.

North America in digital signage market accounted for majority of shares owing presence of major players and their increasing number of investments. In addition, rising demand from application including BFSI and retail have contributed to increased growth.

Asia Pacific digital signage market is expected to witness highest growth rate over the future owing to the factors such as demand to improve viewing experience, decreasing display panel prices, and increased spending in infrastructural development. Moreover, economic development in countries like India, China, and Japan will also boost the global industry.

The key players operating in digital signage market include ADFLOW Networks, BrightSign LLC, Cisco, Intel Corporation, Keywest Technology, Inc, LG Electronics, Microsoft, NEC Display Solutions of America, Inc., Omnivex Corporation, Panasonic, Polk Audio, Samsung Electronics, Scala, Winmate Inc.. The companies are focusing on improving the customer experience and advancement in technology. It is also offering innovative solutions to help large and small business to interact with their customers.

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