Digital Signage Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017 - 2022

Albany, NY -- (SBWire) -- 08/08/2018 --The global market for digital signage has been growing at a robust rate on account of the popularity of digital technologies across several industries. Digital signage is the use display technologies such as LCDs, LEDs, and e-paper to portray images, videos, running texts, or web pages. The marketing game of several new enterprises has undergone complete overhauling as digital technologies have superseded all other modes of advertising. Hence, the demand within the global market for digital signage has traced an ascending trajectory over the past few years.

Digital signage offers the benefits of swift customization of images, text, or other information that is displayed on screens of smart devices, digital billboards, or digital flexes. Furthermore, digital signage is a sub-domain of electronic signage, and the former has played an important role in enhancing the way street signals are communicated. Brands have become increasingly concerned about communicating their key messages through the use of digital signage across public places and gatherings.

Transparency Market Research (TMR), in this blog, presents a range of factors that contribute to the growth of the global digital signage market. The global market for digital signage is projected to grow at a CAGR of 10.0% over 2017 to 2022. Furthermore, the total value of the global digital signage market was worth US$21.50 bn by 2017 and is expected to reach US$34.67 bn by 2022-end.

1. Use of Digital Signage across Multiple Industries

The global market for digital signage has excavated commendable benefit through the use digital signage in key industries such as healthcare, education, banking, transportation, education, and retail. The entertainment industry has emerged as the most ardent consumer of digital signage technologies as they are an attractive media to display ads for TV shows and series. Furthermore, government has also deployed digital signage technologies to promote several campaigns and schemes, and this has created growth spaces in the global digital signage market.

2. Dominance of North America Market

The trend of displaying digital adverts and campaigns is extremely prominent across the US. This has directly influenced the growth of the digital signage market in North America and has enhanced the growth prospects of the vendors. Moreover, the sophisticated nature of the industries in the US and Canada led to early adoption of digital signage technologies across North America. Screening of shows, sports matches, and other international events at several venues and public spaces in the region has also become possible due to the popularity of digital signage.

3. Market Vendors

The key players in the global digital signage market have created commendable growth opportunities for themselves by introducing innovative technologies. Furthermore, the trend of digitization across the world has also benefitted the global digital signage market. It is expected that the key market vendors in the digital signage market would promote their products in unexplored geographical areas to widen their consumer base. Some of these key vendors are Panasonic Corp., Sony Corp., Cisco Systems Inc., Omnivex Corp., BroadSign International, and Sharp Corp.