The digital signage works using different display technologies, including LED, LCD, and projection to stream media, videos, and digital images. The biggest advantage of this type of signage is the convenience that it offers in changing the content. It also provides interactive abilities to the content shared in public places, which makes this type of display highly popular. The global digital signage market is growing at a healthy compound annual growth rate, which is a great sign for the existing businesses in the market. The industry is also one of the most promising and emerging fields for the potential investors. As a result, the market is witnessing steady influx of new entrants.
Segmentation in Digital Signage Industry
The global digital signage market is categorized on the basis of various components in the market. These segments include the types of hardware, display technologies, applications, and demand recorded across various geographic regions. Following are the details of the sub-segments in the market:
- Hardware: Displays, media players, distribution infrastructure, software & content management servers
- Technology: LED, LCD, projectors, plasma, and such other technologies
- Applications: Institutions, commercials, industrial, infrastructural, and such other sectors
- Geography: Europe, North America, APAC and RoW (rest of the world)
Drivers , Trends and Forecasts
Flexibility offered by digital signage in public places is the strongest driver for the growing adoption of this technology. Various industrial verticals are adoption this technology for better display of information, advertisement, awareness, and such other purposes. The inherent dynamic nature of this technology is attracting more and more customers. Various industrial users including hotels, public transport stations, restaurants, retail stores, shopping malls, multiplexes, corporate buildings, government offices, public buildings, and such other locations are commonly decorated with digital signage.
This is an emerging technology, expected to have great influence on the next generation digital advertising in public places. Growing adoption, rising demand and technological advancements in the market are some of the major trends in the market, which are expected to remain constant for the years to come. According to the market research reports, the global digital signage market is expected grow at a CAGR of over 8.94% to reach $14.87 billion by the end of the year 2020. Hardware is expected to be the most dominating segment for the industry, which is anticipated to be seconded by software programs. Decreasing prices and growing applications are expected to be crucial drivers for the industry.