Published: Jun, 2018
The global digital signage market is expected to witness the emergence of several new players in the market over the forthcoming years. The primary reason behind the projected entry of newbie vendors is the huge market gap for digital signage technologies that currently exists across several sectors. However, the sustenance of the new entrants would rely on their expertise and ability to stay relevant in a fast-paced market. Besides this, the efforts of the new entrants as well as the established regional players are expected to be strongly averted by the footholds of the leading players in the market. These leading market players have both, expertise and global reach, which is expected to keep enhancing their prospects of market growth. Furthermore, the ability to make huge-scale investments in new technologies is also projected to play to the advantage of the top market players. The market players in the global market for digital signage technologies are anticipated to remain hooked to mergers, acquisitions, and strategic alliances over the coming years. Besides this, the strategic business moves of the leading market players are expected to intensify the competition in the global market. Some of the leading players in the global market for digital signage are Cisco Systems Inc., Advantec Co. Ltd., Panasonic Corp., NEC Corp., BroadSign International, Samsung Electronics Co. Ltd.,Sony Corp., LG Electronics, Sharp Corp., and Omnivex Corp.
The researchers at Transparency Market Research (TMR) construe some of the key factors responsible for the growth of the global market for digital signage. The global market is expected to expand at a robust CAGR of 10.0% over the period between 2017 and 2022. The market accumulated total revenues worth US$21.50 bn in 2017 and this figure is expected to elevate to US$34.67 bn by 2022-end.
Ease of Advertisement to Drive Demand for Digital Signage
The benefits of offered by digital signage technologies to companies looking for effective management of their design collaterals, advertising creatives, and content are commendable. This has been the key reason behind the adoption of digital signage technologies in education, banking, corporate, entertainment, corporate, transportation, and retail sectors. The operational costs of the retail sector could be significantly reduced with the use of digital signage through the use of digital advertisements instead of printed ones. Media Players, media revenue, displays, and network software are some of the key services offered by digital signage. It is anticipated that the global market for digital signage would reap commendable revenues from the transportation industry where there is a pressing need to reduce extrinsic costs.
Dicey Return on Investment to Hamper Market Growth
Despite the unparalleled utility served by digital signage, the return on investment (ROI) from it still remains a matter of contention. It is argued by a number of experts that digital signage only serves extrinsic utility to the companies and does not provide any benefits on the front of profitability. Moreover, the high initial investment required to deploy digital signage technologies limits its usage to established and well-off companies and ventures only.
The review is based on TMR’s report titled, “Digital Signage Market (Offering - Displays, Media Players, Software for Network, Services, and Media Revenue; Display Technology - LCD, PDP, OLED, LED, Front Projection, and Rear Projection; Application - Corporate, Education, Healthcare, Entertainment, Banking, Retail, and Transportation) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017 – 2022”.
The global digital signage market has been segmented as presented below:
Global Digital Signage Market by Offering
- Media Players, PCs, and Set-up Boxes
- Software for Network Digital Signage
- Media Revenue
Global Digital Signage Market by Display Technology
- LED Video
- Front Projection
- Rear Projection
Global Digital Signage Market by Application
Global Digital Signage Market by Region
- North America
- Latin America
- GCC Countries
- South Africa
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