Published on : Dec 01, 2017
ALBANY, New York, December 01, 2017: Researchmoz has added a new report to its vast database of research studies. The report is titled, "Global Digital Signage Market Analysis By Product, Offering, Hardware, End User Industry-By Region, By Country (2017-2022)-By Product (Kiosks, Digital Bill Boards, Digital Menu Boards, Digital Sign Boards), By Offering (Hardware, Software, Services), By Hardware (Displays, Media Players, Projectors, Mount), By End User (Retail, Healthcare & Banking, Education & Corporate, Transportation, Hospitality & Restaurants, Others)." An expansion rate of 8.21% CAGR between 2017 and 2022 is predicted for this market by expert analysts, on account of the growing investments by foreign companies and rapid urbanization. The rising disposable income and growing penetration of internet are also supporting the growth of this market.
The growing demand for customized solutions as well as interactive systems with a user-friendly will also drive the digital signage market. North America is anticipated to be the largest market in the digital signage software market during the forecast period on account of the cutting edge technology high demand from the advertising sector. The North American retail sector as well as the BFSI sector will drive the growth of this market. Asia Pacific is anticipated to hold key shares of the market and expand at a rapid pace during the forecast period with China and India leading within the market.
Technical advancement in displays as well as the significant reduction in the cost of hardware are two important drivers for global digital signage market. The growth of this market is also accredited to the rise in digital promotion of products and services in order to attract the target audience effectively. Digital Signage offers quality information to a wide variety of audience with the use of large display screens in a location where the target audience is expected to be present. Information along with motion pictures can be displayed in digital signage about a product or service which is able to attract more customers and have a higher level of impact as compared to conventional modes of advertisements and reaching out to people.
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Another factor that is fueling the growth of the global signage market include increasing awareness among consumers regarding the benefits of this form of advertisement as compared to conventional modes. Conventional modes of advertisement such as a print media is short lived and therefore digitized advertisement by using digital signage is an effective and long lasting mode of advertisement. The growing advancements in display technologies leading to the evolution of LCD, OLED, LED, and super AMOLED displays is only furthering the growth in this market and will continue to do so, thanks to the rising investments by manufacturers for R&D.
On the downside, there are several issues relating to the hardware and software compatibility which will hamper the growth of this market. Connectivity, electrical interface, and networking are other issues which will restrain the growth of the global digital signage market. However, the adoption of digital signage will continue to witness rise in adoption in the years to come on account of the high return on investments and powerful visual communication tool which engages audiences effectively.
Global players within this market include: BroadSign International, Samsung Electronics Co. Ltd Advantec Co. Ltd., Sony Corp., NEC Corp., Panasonic Corp., Omnivex Corp., Cisco Systems Inc., Sharp Corp., and LG Electronics.
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