Market Highlights:
As per a new report by Market Research Future (MRFR), the global digital signage market is estimated to touch USD 26.3 billion by 2022. The market is predicted to expand at 6 % CAGR during the assessment period (2016-2022). Digital signage enables the display of multimedia content in urban places and promotes advertisements and awareness. The content is displayed on big digital screens such as OLED, LCD, and LED and is mainly adopted in transportation systems, outdoor advertising, public spaces, exhibitions, hotels, and restaurants.
Going ahead with the market drivers, Standards are emerging to simplify integration and are developed by experts to ensure high quality, faster, higher resolution systems and easier to use software. The Digital Signage standards make the technology appear more mature. Some of industry standards for machine vision systems are Camera Link standard for interfacing cameras to frame grabbers, which digitize analog video signals. This standard ensures easy integration of these devices, even ones from different manufacturers. Connectors, cables, data format, and control signals are all standardized. The standardization is increasing continuously and driving the machine vision market.
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Major Key Players:
- Cisco System Inc. (U.S.),
- Hewlett-Packard Company (U.S.),
- Samsung Corporation (South Korea),
- NEC Display Solutions Ltd (South Korea),
- Bright Sign LLC (U.S.),
- Panasonic Corporation (Japan),
- 3M Co.(U.S.),
- LG Display Co. Ltd. (South Korea),
- Ad flow Networks (Canada)
- Omni Vex Corporation (Canada)
among others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global Digital Signage market.
According to MRFR, The Global Digital Signage Market is expected to grow at USD 26.3 Billion by 2022, at ~6% of CAGR between 2016 and 2022.
Industry News
A consumer technologies provider, D&H Distributing, has launched an initiative focusing on digital signage and Pro-A/V. The company will help value-added resellers handle large format digital signage, video walls, video conferencing solutions and more.
Market Segmentation:
The global digital signage market has been segmented on the basis of technology type, product type, application type, component type, and region.
By mode of product type, the global digital signage market has been sub-segmented into kiosks, billboards, signboards, menu boards, and others. Among these, the segment for kiosks has gained a high market share owing to easy mounting and installation, low price, and connectivity.
By mode of technology, the global digital signage market has been segmented into LCD, LED, OLED, and front projection. Among these, LCD has been extensively used in the marketing and advertising industry and accounts for the largest market share.
By mode of component, the global digital signage market has been segmented into hardware, software, and service. Among these, the hardware component is likely to dominate the industry and is estimated to maintain its dominance over the review period. The hardware component comprises displays, banners, and components needed in manufacturing a digital panel. Compared to software component, the requirement for hardware is high and accounts for the largest market share.
By mode of application, the global digital signage market has been segmented into entertainment, transportation, retail, healthcare, banking, education, government, and others. Among these, the retail segment is more prominent and demands digital advertisements to promote and market products and services. Competition among the retailers due to variety of product offerings has resulted in the growing awareness for effective marketing strategies.
Regional Analysis:
Digital Signage Market is growing with the positive growth in all the regions. Increasing application areas on yearly basis and advancement in technology and integration with current manufacturing environment is driving the market on global scale. Asia Pacific regions in dominating the market due to rich presence of manufacturing companies in China, India, Japan, Taiwan and South Korea. The region is also one of the prominent leaders in semiconductor industry and largest exporter around the world. North America stands as second largest market for Digital Signage due to technological advancement and growing IT and semiconductor industry. The region is also home to some of the key players of Digital Signage system. Europe stands as third biggest market for Digital Signage. From the past 10 years, Germany was one of the major developer of machine vision system and the trend continued till the year 2015. Rich automotive industry in this region is one of the biggest driver which is supporting the market of machine vision. Europe Digital Signage market also sees immense potential due to the growing banking, healthcare and foods and beverage industry.
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Intended Audience
- Software investors
- Security solution vendors
- Digital Signage service providers
- Value-added Resellers
- Distributers
- Investors and Venture Capitalist
- Security Management Service Provider
- Security Equipment Providers
- Security Agencies
- System Integrators
- Research/Consultancy firms
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