Global Digital Signage Market: Digital signage also known as dynamic signage is a specialized form of digital display used to broadcast video or multimedia content in public or private places for providing information or advertising purpose. A digital sign usually consists of a computer or playback devices connected to large displays or bright screens such as LED, LCD etc. to display digital content in both private and public environment, including hotels, retails, corporate buildings, digital banners, transports etc. On-screen data can be updated or modified in real-time by means of internet or registered server/network connection, also it can employ multi-screen display as a single display.
Growing demand across commercial and public sector for distribution of content through digital signage is an excellent marketing strategy as it attracts mass audience and this is expected to push demand for digital signage in the global market. Digital signage is a powerful visual communication tool that helps in engaging audience, increasing brand awareness, and enhance consumer experience owing to which there is rising adoption of digital signs in retail, hotels, banking, transportation, and media and entertainment sector which is further boosting demand for the digital signage market. Displays coupled with touch screen and near filed communication (NFC) technology has provided a push to digital signage market. Increasing government initiatives and expenditure to enhance public communication infrastructure is further driving demand for the digital signage market globally. Digital signage is an eco-friendly option as it eliminates the use of paint and paper required for traditional signage system.
Major challenges faced by digital signage market are high installation cost, huge investment for maintenance and support. In addition, issues related to networking, compatibility and connectivity are few more challenges faced by the market, which is hampering growth of the global digital signage market during the forecast period.
The global digital signage market is segmented on basis of solution, mode of display, application, and region.
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North America holds the largest market share and is expected to dominate the market in terms of revenue generation during the forecast period. This growth is attributed to increasing investments in technology and high demand from advertising, retail and various other sectors. The market in Asia Pacific is expected to witness significant growth in terms of revenue generation during the forecast period and is expected to register a CAGR of X.X% during the forecast period.
Key players in the global digital signage market are Samsung Electronics Co. Ltd., LG Display Co. Ltd., NEC Display Co. Ltd, BroadSign International Inc., Sharp Corporation, Planar Systems Inc., Panasonic Corporation, Smart Digital Signage Inc., Out Front Digital Communications, and Israk Technology.