Digital Signage Market Overview
The global digital signage market size was around $3.5 billion to $4.0 billion as of 2018. Though the opportunities available in the nascent market is not much enticing for a whole host of players—the opportunities will be incrementing at a highly attractive CAGR of 14% to 18% during the forecast period of 2019 to 2025. The digital signage market analysis has showcased North America as the most lucrative region for the market, producing around 30% to 35% of the total demand as of 2018. These digital signage have a wide range of application in entertainment, electronics, automotive, and sports industry. Among these, the key application comes from the transportation sector, increasing at a positive CAGR of 16% to 18% in the aforementioned forecast period.
Digital Signage Market Outlook
Digital signage is an electronically controlled display installed on large-sized monitors or digital screens. These electronic signage displays are used in outdoor advertising, wayfinding kiosks, wall signs, electronic menu boards, and media signage electronic displays. These are mainly placed in public places such as malls, stadiums, airports, hospitals, restaurants, and stations for grabbing attention, conveying vital information, and advertising purposes. Installation of these boards portrays information in an ornamental manner.
Digital Signage Market Growth Drivers
- Establishing dynamic, decorative, and informative content-rich communication through display boards is trending among the advertising agencies. Event organizations and the introduction of new products are the major growth drivers in the digital signage market. These kinds of advertisements have shown a great conversion rate among the consumers.
- Lavish buildings and architecture are using this technology to attract tourists. The corporate sector, airports, and hospitals are shifting from traditional board hoardings to these digital boards owing to their customizable properties.
Digital Signage Market Trends
Personal development start-up Alphabird acquired Volt Media and Ventures in Digital Media to increase the density of digital advertising services to the United States based brands in regions where they are not popular.
Digital Signage Market Challenges
- Maintenance of such digital boards is a challenging task for the manufacturers, owing to the adverse climatic conditions. A broken circuit in one display panel can affect the complete display board as the electrical wirings could be harmed. Repairing such colossal boards is a difficult task, because it may require to scrap the complete display system.
- Display of dynamic data, referring to regularly updating the incoming information such as news and weather on these digital displays should be monitored. The issue of scalability is still a challenge in the industry as cloud-based signage software should be designed in such a way that could be scaled.
Key Players in the Digital Signage Market
Some of the key players reigning the global digital signage market are: - Daktronics, Sharp, Samsung, LG, Panasonic, Sony, NEC Display Solutions, Ltd., Planar System, Christie Digital Systems, and Hyundai IBT.
Digital Signage Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the digital signage market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of digital signage market, and their specific applications in different types of vehicles.
Digital Signage Market Report: Industry Coverage
The digital signage market is bifurcated based on display technology into 2D and 3D displays. Based on application it is classified into advertising, marketing and others. On the basis of end-user industry it is divided into corporate, entertainment, and others. And by components, it is subdivided into display and network. Forecast period that is being looked upon is 2019-2025.
The digital signage market report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Midadle East and Africa: Israel, South Africa, Saudi Arabia