Description
The
global digital signage market is projected to reach USD 29,939.6 million by
2024, according to a new study by Grand View Research, Inc. Growing demand from
end-use industries such as retail and healthcare is expected to drive industry
growth over the next eight years. Creating and distributing content via digital
signage serves as an effective marketing strategy for enterprises as it has a
capability to reach large audience. This is anticipated to spur adoption
particularly in the corporate sector. Larger screen sizes such as those over
50-inch displays are anticipated to gain popularity over the forecast period.
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Digital
displays with 4K technology is on the rise to address growing demand for image
with high sharpness. Software providers have been targeting the new entrants by
designing solutions compatible with Android OS. The emergence of IoT paired
with increasing adoption of cloud computing is expected to enable collection of
vital operational and marketing data. Use of digital signage drops the company's
long term operational cost by reducing the use of paper for advertising and
incorporation of LED backlit panels have resulted in considerable energy
savings which reduces the operational cost of an enterprise.
Further
Key Findings from the Study Suggest:
Digital
signage based on LCD technology dominated the global display industry in 2015
and accounted for over 50% of the overall revenue in the same year. Decline in
the prices coupled with the advantages offered by this technology over
alternatives such as plasma display is projected to fuel the LCD-based digital
signage over the forecast period.
Retail
accounted for over 40% of the total revenue in 2015 and is projected to remain
the largest application 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
patients' health.
Transparent
LED screen is expected to witness significant growth owing to its energy
efficiency capability and sophisticated design offering more than 80%
transparent screen. Kiosks are significantly used in several application area
primarsy such as the distributing terminal and is anticipated to account for
more than 22% (in terms of revenue) of the total market share.
Growing
number of hardware offerings with 4K-UHD and 8K displays is anticipated to
dominate the component segment. Further, the surge in need for better sales
capability with branding is expected to propel software demand.
North
America accounted for the largest market share i.e. over 35% in 2015; growing
demand across application areas due technologically advanced customer base is
expected to favorably impact the regional market over the next eight years.
Factors including demand for improved viewing experience, educational and
government market development, decreasing price of display panels, and
increasing spending on infrastructure development are likely to spur Asia
Pacific market growth.
The
industry has started showing signs of consolidation in the wake of a mini spate
of M&A (X2O Media's acquisition by Barco) and joint ventures (LG
Electronics Inc. and MRI). Key vendors in the 9.1-inch and larger LCD panels
space include LG Electronics Inc., Samsung Electronics Co. Ltd., Influx
Corporation and AU Optronics
Table of Content
Chapter 1. Methodology and Scope
1.1.
Research Methodology
1.2.
Research Scope & Assumption
Chapter 2. Executive Summary
2.1.
Digital signage - Industry Snapshot & Key Buying Criteria, 2014 - 2024
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