According to a report,“Digital Signage Market Analysis By Type, By Component, By Technology, By Application, By Location, By Content Category, By Size, By Region, And Segment Forecasts, 2018 – 2025”, published by Grand View Research, Inc., the global digital signage market is expected to reach USD 31.71 billion by 2025. The market is expected to witness a CAGR of 7.9% over the forecast period, owing to increasing demand from end-use industries, which prominently include retail and healthcare, is anticipated to propel the industry growth over the forecast period.
Key Takeaways from the report:
- LCD digital signage dominated the global display market in 2016 and accounted for the largest market share, owing to the decline in prices and benefits provided by the LCD technology
- Retail accounted for over 40% of the total revenue in 2015 and is projected to remain the highest revenue-generating segment over the next eight years
- The healthcare sector has significant potential as hospitals have increasingly incorporated digital signage for numerous purposes such as sharing important registration information, display notifications, and conveying wellness tips for improving health of patients
- The transparent LED screen segment is anticipated to exhibit significant growth, owing to LED screens’ energy-efficient performance capabilities
- The hardware segment, which includes 8K and 4K-UHD displays, is projected to dominate the component segment
- The North American region accounted for the largest market share in 2016, owing to the heavy demand of digital signage across various application sectors, on account of technological advancements and the modern customer base
- The Asia-Pacific region is likely to witness a robust growth rate over the forecast period, owing to factors such as demand for better viewing experience, growing transportation sector, and decreasing prices of display panels
- The out-store segment is anticipated to witness considerable growth over the forecast period due to the surging demand for out-store applications
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- Outdoor LED Display Market : Growing demand for wireless data connections for billboards which are ideal for high-volume pedestrian traffic zones, and customizable content availability are expected to revolutionize the digital display industry over the next seven years.
- 4K TV (Television) Market: Increased global production capacities and constant pressure for price reduction exerted by the retailers are the primary reasons for a steep decline in Ultra High Definition (UHD) TV prices over the last few years. This reduction in prices is expected to further fuel the demand for 4K television in the coming years.
The creation and distribution of content with digital signage are the effective promotional strategies for the enterprises, as they are able to reach out to a larger audience base. This is anticipated to spur the adoption of digitized marketing via signage across the corporate and hospitality sectors. Greater screen sizes, such as above 52-inch displays, are likely to gain popularity over the forecast period.
Digital displays with 4K technology address the growing demand for sharp images. Software providers have been targeting new entrants by designing solutions compatible with Android OS. The emergence of IoT, coupled with increasing adoption of cloud computing, is expected to enable the collection of vital operational and marketing data. Digital signage help companies decrease their long-term operational costs by reducing the use of paper for advertising. Furthermore, the incorporation of LED-backlit panels has resulted in considerable energy savings.
Digital displays equipped with 4K technology have high demand as they offer enhanced sharp images for displays. Thus, the demand for advertising content with better sharpness and enhanced quality is fueling the adoption of digital signage. The adoption of advanced display technologies is therefore likely to propel the market growth.
Furthermore, the software providers are focusing on the new entrants of the digital signage industry by providing design solutions that are compatible with the Android operating systems. The use of digital signage helps in optimizing and reducing the company’s long-term operational spending. This drop in the operational expenditure is due to avoiding the use of paper for advertisement purposes and frequent damages and changes that are associated with the traditional marketing activities.
The incorporation of LED-backlit panels has led to additional energy savings at a considerable level. Thus, the reduction in energy consumption due to the adoption of advanced technologies, such as LED, in digital signage is luring the enterprises to opt for digital signage.
Grand View Research has segmented the global digital signage market based on types, components, technologies, applications, locations, content categories, sizes, and regions:
Digital Signage Type Outlook (USD Million; 2014 – 2025)
- Video walls
- Video screens
- Transparent LED screens
- Digital posters
Digital Signage Component Outlook (USD Million; 2014 – 2025)
Digital Signage Technology Outlook (USD Million; 2014 – 2025)
Digital Signage Application Outlook (USD Million; 2014 – 2025)
Digital Signage Location Outlook (USD Million; 2014 – 2025)
Digital Signage Content Category Outlook (USD Million; 2014 – 2025)
- Health & Wellness
- Vertically Oriented Content
Digital Signage Size Outlook (USD Million; 2014 – 2025)
- Below 32 inches
- 32 to 52 inches
- More than 52 inches
Digital Signage Regional Outlook (USD Million; 2014 – 2025)
- Middle East & Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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