HYDERABAD, India, Dec. 26, 2019 /PRNewswire/ -- According to new market research report by Mordor Intelligence, the market for Digital Signage is expected to grow at a CAGR of 8% during the forecast period. The growth in transport networks, public infrastructure, and new commercial buildings, particularly in developing economies is creating more opportunities in this market.
Digital signage happens to be a sub-segment of signage. Technologies, like LCD, LED, and projection, are used in digital signage to display digital content such as images, video, streaming media, and information. Digital billboards are used in public spaces, transportation systems, museums, stadiums, retail stores, hotels, restaurants, and corporate buildings, etc., for wayfinding, exhibitions, marketing, and outdoor advertising. The scope of the report includes insights into the solutions offered by major players, including providers of hardware, professional services, and integration solutions. The study comprises insights into various end-user-based applications such as commercial, industrial, institutional, etc. It also emphasizes on signage products, such as kiosks, billboards, signboards, etc.
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Highlights of the Market:
- Digital signage is being used in and on all modes of public transportation to attract the attention of on-the-go viewers, providing the real-time location, and context awareness related to traveler information and advertising. Moreover, it is fast becoming a standard in many educational facilities, with schools and corporate campuses facilitating digital signage systems.
- The reduction in the prices of LED/LCD systems is the major factor helping it penetrate the high growth regions across the world. Additionally, in the commercial space, LED-based signage boards offer durability and ruggedness in addition to greater visibility, compared to that of traditional lighting arrangements. Rapidly dropping prices for LCD screens have led to an increasing number of installations of digital signs.
- There are numerous advancements within the digital signage technology industry that sign manufacturers are paying attention to. These include higher resolution LCD screens and LED message centers, which have iPad control and programming, emergency alert systems tied directly to IPAWS (Integrated Public Alert and Warning System) managed by FEMA, and live RSS feeds for news and weather.
- Another significant trend is the push toward direct-view LED displays to create a more immersive and awe-inspiring experience. Direct view LED panels are highly customizable and can create experiences that encircle the audience or create architecturally captivating focus points.
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North America is Expected to be the Largest Market for Digital Signage
- North America is estimated to dominate the signage market over the forecast period, owing to the presence of major vendors in the United States and also due to early adoption of and advancements in technology. Furthermore, the advancements in display technology are also likely to drive the market.
- Consumer magazines mainly dominate digital advertising expenditure in the United States. However, the trend for out of door marketing is also growing in the country, and the expenditure for the segment is expected to reach USD 4.5 billion, in 2019.
- Retail was the dominating end-user industry in the country, which had the highest investment in digital advertising in 2018, followed by automotive, financial, and telecom sector.
- Software providers are also engaged in providing a standard to customized solutions, which are compatible with multiple operating systems, to new entrants in the industry. There is an increased focus on cloud-based design solutions, owing to the increasing demand for a customized solution.
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Mordor Intelligence has segmented the Unmanned Aerial Vehicles Market on the basis of Type, Application, and geography:
- Type
- Hardware
- LCD/LED Display
- OLED Display
- Media Players
- Projector/Projection Screen
- Other Hardware
- Software
- Services
- Application
- Retail
- Transportation
- Hospitality
- Corporate
- Education
- Government
- Other Applications
- Geography
- North America
- Europe
- Asia-Pacific
- South America
- Middle East & Africa
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Competitive Landscape
The digital signage market is a relatively fragmented market with major global players, like NEC Display Solutions Ltd, Samsung Electronics Co. Ltd, Panasonic Corporation, Sony Corporation, covering the hardware end of the spectrum, while there happen to be several medium and smaller players who provide software for digital signage. Moreover, many players are entering the market offering unique product applications as niche players in the industry.
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About Mordor Intelligence
Mordor Intelligence, LLP. provides market intelligence and advisory services that empowers enterprises to shape their strategic decisions. With a strong team of in-house experts and a host of industry tie-ups, Mordor offers syndicated and custom market intelligence services that have helped more than 700 clients gain an edge over their competition. Mordor's expertise lies in niche analysis with a quick turnaround time, making it the preferred choice for startups as well as Fortune 500 organizations.
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