Global Digital Signage Market: Snapshot
Driven by the infrastructural developments in emerging economies, the global market for digital signage is exhibiting significant growth potential. The high uptake rate of digital signage hardware and software products in the commercial and the public sectors is also boosting this market substantially. The increasing demand for digitally enabled products with high-quality content to reach a wide audience base is expected to provide lucrative opportunities to the market players in the near future, resulting in an exceptional market growth.
The opportunity in this market is projected to worth US$21.50 bn by 2017. The market is further expected to report significantly high growth at a CAGR of 10.0% between 2017 and 2022, reaching a value of US$34.67 bn by the end of 2022. The increasing number of government initiatives and investments to develop public communication infrastructure will influence this market considerably in the years to come.
Retail Sector to Continue Reporting High Demand for Digital Signage Products
Digital signage finds an extensive application in the corporate, education, healthcare, entertainment, banking, retail, and the transportation sectors. The retail sector is reporting a higher installation of digital signage as it enhance customer engagement, attract more customers, and saves printing cost of physical advertisements. The BFSI and the transportation industries are also projected to register a high demand for digital signage in the years to come.
Displays, media players, software for network, services, and media revenue are the prime offerings by digital signage vendors across the world. Currently, displays and media players are enjoying the most prominent demand among these, globally. Researchers predict the trend to remain so over the next few years. LCD, PDP, OLED, LED, front projection, and rear projection are the leading technologies that find application in digital signage products.
Continued Leadership of North America on Global Digital Signage Market
North America, the Middle East and Africa (MEA), Europe, Latin America, Asia Pacific excluding Japan (APEJ), and Japan are the main regional markets for digital signage across the world. With the presence of state-of-art technological infrastructure, North America has emerged as the key contributor to the global digital signage market. The increasing pool of dedicated vendors of industrial products and equipment and the rising demand for digitized displays in the retail and the BFSI sectors are anticipated to strengthen the North America market for digital signage over the next few years. Expanding at an impressive CAGR of 11.10%, this regional market is projected to retain its position over the period from 2017 to 2022.
Amongst other regional markets, Asia Pacific excluding Japan and Europe are also reporting a steady surge in the valuation of their respective markets for digital signage. The increasing research and development efforts taken by manufacturers in the U.K. and Germany, in a bid to enhance the quality of the content, and the rise in initiatives by various European governments for the installation of digital signage in offices in order to maintain a steady flow of information are predicted to propel the Europe market for digital signage in the years to come. The APEJ market will gain considerably from the advancements in technology, especially in China, South Korea, and India.
The global market for digital signage is crowded with a number of international and local players, which compete on the basis of technology and price difference. At the forefront of this market is NEC Corp., Advantec Co. Ltd., Panasonic Corp., Cisco Systems Inc., Sony Corp., Omnivex Corp., Sharp Corp., BroadSign International, LG Electronics, and Samsung Electronics Co. Ltd.
Global Digital Signage Market: Overview
The global market for digital signage is witnessing a significantly high rise, thanks to remarkable technological advancements in infrastructure in the commercial as well as the public sectors, especially in emerging economies. This study presents a detailed assessment of the drivers and the restraints that govern the dynamics of the worldwide digital signage market, together with their impact on the demand for digital signage during the period from 2017 to 2022.
In addition to this, the research report talks about the potential opportunities in this market on the global as well as the regional level, emphasizing on the analysis of market attractiveness, in which the applications have been marked on the basis of their growth rate, market size, and general attractiveness of this market.
Global Digital Signage Market: Scope of the Study
The market has been forecast based on constant currency rates. The prices of digital signage vary in each of the regions due to the demand-supply scenario in the respective region, which turns into non-following of a similar volume-to-revenue ratio for each individual region. The individual pricing of digital signage products for each of the application segments has been considered while estimating and predicting the revenue of this market on the global level. The regional average price has been taken into consideration during the bifurcation of the market into various segments in each of the regions on the basis of several market parameters.
The research report presents the overall size of the worldwide digital signage market in 2017 and the forecast for the next five years up to 2022. The size of the market and forecast for each of the product segments is offered in the context of the global as well as the regional markets. Numbers provided in this report are derived based on demand generated from different applications and types of raw materials.
Global Digital Signage Market: Segmentation
The study provides a decisive view of the digital signage market by segmenting it on the basis of the display technology, offerings, application, and the regional spread of this market. Based on the offering, the market is categorized into displays, media players, services, software for network, and media revenue. By display technology, the market is bifurcated into LCD, PDP, OLED, LED, front projection, and rear projection. On the basis of application, the market is segmented into the corporate, education, healthcare, entertainment, banking, retail, and the transportation sectors.
The regional segmentation of this market includes North America (Canada and the U.S.), Latin America (Argentina, Brazil, and Mexico), the Middle East and Africa (South Africa, Turkey, Israel, and GCC countries), Asia Pacific excluding Japan (India, China, South Korea, Indonesia, Australia, and Singapore), Europe (the U.K., Italy, France, Germany, Spain, and Nordic countries), and Japan.
The market estimates for this research study have been based on the volume produced, with revenue being determined through the regional pricing trends. The cost for commonly utilized grades of digital signage in each of the applications has been taken into consideration, and customized product pricing has not been included. Demand for digital signage has been derived by analyzing the global and regional demand for digital signage in each application.
Companies Mentioned in the Report
NEC Corp., Advantec Co. Ltd., Panasonic Corp., Cisco Systems Inc., Sony Corp., Omnivex Corp., Sharp Corp., BroadSign International, LG Electronics, and Samsung Electronics Co. Ltd. are the leading players in the global digital signage market.