The digital signage market and electronics industry are witnessing various technological advancements and incrementing with remarkable growth. According to the recent business intelligence report released by IndustryARC, it is estimated that the global digital signage market size lies in the range of $3.5 billion to $4.0 billion and growing with an incredible CAGR of 16% to 18% during the forecast period of 2019-2025. This is sure to attract more players and further disrupt the marketplace. The report is titled “Digital Signage Market: By Display Technologies (2D and 3D Displays), By Components (Display, Network and Others), By Applications (Advertising, marketing and Others), By End User Industry (Corporate, Entertainment, Others), By Geography – Forecast (2019 - 2025).”
Digital signage is a digital image, video, or graphics used by companies mainly for advertisement, marketing, exhibitions, and entertainment. This can be found in malls, streets, hotels, restaurants, and corporate buildings. Additionally, digital signage market products are widely used in banks, railways, restaurants to display important information to enhance customer experience. Digital signage is an interactive screen used as informational footsteps in tourists attractions, museums, and other dynamic wayfinding.
Browse 89 Market Tables, 179 Figures spread through 145 slides and an in-depth TOC “Digital Signage Market (2019 - 2025)”
Global Digital Signage Market: Demand Analysis
As per the research report, the North American region grabbed the largest market share in the global digital signage market in 2018, generating nearly 30% to 35% of the overall demand. However, other regions have also shown significant growth, and the market is anticipated to flourish all around. Among end use industries, transportation sector grabs the largest demands, increasing at a CAGR of about 16% to 18% in the forecast period.
Global Digital Signage Market: Competitive Landscape
- Some of the key players in the global digital signage market are Daktronics, Sharp, Samsung, LG, Panasonic, Sony, NEC Display Solutions, Ltd., Planar System, Christie Digital Systems, and Hyundai IBT.
- Daktronics achieved growth in orders to $614 billion and in sales to $586 million in year 2017 with improved operating margin. Daktronics acquired ADFLOW and experienced increased in-store digital media solutions orders in year 2017. Daktronics, transportation business unit activity strengthened due to federal government funding and support for state level projects. Additionally, Daktronics gained traction from High School Park and Recreation (HSPR) with high demand for large video sporting applications.
- Samsung’s product line in the digital signage market includes Display Solutions and MagicInfo Solution. Samsung effectively leverages their digital content and solutions to extract maximum ROI. Recently at ISE 2019, Samsung introduced future of commercial display 8K and 8K HDR technology. June 2018, MSL Group incorporated with Samsung Flip, for optimal displays that can be used for meetings and conference purpose.
- To strengthen its position in the digital signage market, Planar Systems, Inc. recently entered into a definitive merger agreement with Leyard Optoelectronic Co., Ltd., which produces thinnest displays in the industry. Planar system engages in manufacturing, developing and electronic display products and systems.
- Hyundai IBT is actively processing display business with high profit and growth. Hyundai is the major contributor for first commercialization of 3D broadcasting actualizing TV in the 3D display. The company is extending its market by continuously engaging in research and developments to maintain its lead in the field of display products.
Global Digital Signage Market: Growth Drivers
Positive economic environment is the major factor for increase in demand in the digital signage market. Government development project and investment on building transportation infrastructure such as airport, train and metro drive the demand for digital signage at faster pace. Concept of store and office designing, and digital windows displays with digital boards is major contributor in growing the market. Increasing demand for customized solutions and software is increasing demand for digital signage as well as skilled labor employment that is in return strengthening the economy. Integrating augmented reality as well as cloud based software along with digital content is major opportunities in the digital signage market. Increasing focus on research and developments opportunities to bring unique and fresh content in front of consumers is flourishing digital signage market.
Digital signage is an interactive screens widely used in public places such as malls, restaurants, hotels for entertainment and marketing purposes. Integrating augmented reality, 3D with digital signage is the latest trend used in many areas to grab consumer’s attention. North America is the leading region to hold the largest market size.
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