Global Digital Signage Market Overview
The global digital signage market is expected to grow from $XXXX billion in 2017 to $XXXX billion by 2021, at a CAGR of XXXX%. The market is driven by increasing demand for efficient and interactive signage solutions across various industries. Factors such as increasing adoption of digitized content, rising awareness of benefits associated with digital signage, and increase in industrial automation are some of the key drivers of the market.
Some of the leading vendors in the global digital signage market are Philips Lighting, JCDecaux, Omnicom Group, Microsoft Corporation, Adobe Systems Incorporated, and Ingersoll Rand Co., Ltd. The market is segmented on the basis of platform (PC-based vs. mobile), application (enterprise vs. retail), and region (North America, Europe, Asia Pacific).
In this report, the global digital signage market has been considered on the basis of platforms (PC-based and mobile) and application segments (enterprise and retail). On the basis of platforms, PC-based digital signage dominates the market followed by mobile digital signage. In terms of application segments, enterprise dominates followed by retail sector. Geographically speaking North America leads the market followed by Europe and Asia Pacific.
Global Digital Signage Market Growth
The global digital signage market can be broadly classified into three segments:
– Commercial signage
– Public space signage
– Display advertising
Each segment is further sub-divided based on application and deployment mode. Based on application, the market is divided into corporate communications, retail, hospitality and transportation. Based on deployment mode, the market is segmented into fixed installations and portable devices.
Based on geography, the global digital signage market is dominated by North America followed by Europe. Asia Pacific is expected to grow at a more rapid pace than other regions over the forecast period. There are several factors behind this trend including increasing adoption of digital signage in commercial spaces as well as increasing investments in technology infrastructure across Asia Pacific. The growth of public space signage is also gaining momentum due to rising awareness about its benefits among consumers and businesses alike.
Factors Driving the Global Digital Signage Market
The global digital signage market is projected to grow at a CAGR of XXXX% during the forecast period from 2019 to 2024. Factors such as increasing adoption of digital signage in various industries, rising investment in smart cities, and growing demand for intelligent displays are driving the market.
Some of the major players in the global digital signage market include Amazon, Apple, Blackboard Corporation, Cisco Systems, Daikin Industries Ltd., Dynatrace Technologies Inc., Electronic Arts Inc., Fujitsu Limited, HP Inc., Hitachi Data Systems Corporation Ltd., IBM Corporation, Intel Corporation, LG Electronics Inc., Microsoft Corporation, NEC Corporation, Panasonic Corporation, Philips NXP Semiconductors NV, Qualcomm Incorporated and Samsung Electronics Co. Ltd.
Key Trends in the Global Digital Signage Market
The global digital signage market is projected to grow at a CAGR of XXXX% during the forecast period 2017-2021. This growth can be attributed to factors such as increasing awareness about the benefits of digital signage, increasing adoption of digital signage solutions across various industries, and growing demand from businesses and organizations for more efficient communication infrastructure.
This report offers an in-depth analysis of the global digital signage market, including overview of market size, share, trends, drivers,southeast, Asia region is expected to witness the highest growth rate during the forecast period owing to increasing uptake of digital signage solutions by key corporate players in this region. Furthermore, the growth prospects for Europe are also expected to be strong due to increasing number of retail and commercial establishments as well as increase in adoption by government bodies.
Some major challenges that are anticipated to hamper the growth of the global digital signage market include inadequate understanding about its potential benefits among users and lack of robust ecosystem around these solutions. However, a number of initiatives such as Digital Signage Forum (DSF), International Federation for Information Processing (IFIP), and GSMA Foundation are aimed at promoting collaboration among stakeholders and accelerating adoption of digital signage solutions globally.
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Global Digital Signage Market: Type Analysis
The global digital signage market is expected to grow from $XXXX billion in 2016 to $XXXX billion by 2021, at a CAGR of XXXX%. The market is segmented into wall-mounted and free-standing type.
The wall-mounted type dominates the market with a share of over XX%. This is primarily due to the high installed base of traditional sign boards and the preference of corporations for in-house control over signage content and presentation. The free-standing type is expected to witness a significant growth owing to its ability to be placed in more locations and its potential for interactivity and customer engagement.
Among regions, North America is anticipated to account for the highest share of the global digital signage market in 2021, followed by Europe. Asia Pacific is expected to register a modest growth during this period. The key factors driving the growth of the global digital signage market include increasing consumer awareness about technology options, increasing adoption of digital signage across industries, and growing demand from retail stores and other hospitality establishments.
Growth Forecasts of the Global Digital Signage Market
The digital signage industry was valued at USD XX million in 2015 and is forecast to grow at a CAGR of XX% between 2016 and 2024.
The global digital signage market is segmented on the basis of type, application, and geography. The market is further divided into on-premises digital signage, off-premises digital signage, and hybrid models. On-premises digital signage refers to installations that are installed inside corporate premises. Off-premises digital signage refers to installations that are installed outside the corporate premises. Hybrid models refer to installations that include both on-premises and off-premises digital signage.
Based on type, the global digital signage market is divided into video wall displays (VWDs), traditional LCD displays, and other types of displays such as touchscreens or Embedded ICT systems. VWDs are projected to witness the highest growth rates due to their high resolution capabilities and ability to project multiple images simultaneously. Other types of displays are also expected to witness significant growth due to their increasing popularity among customers owing to their low installation costs and low maintenance requirements.
Based on application, the global digital signage market is segmented into retail, business process automation (BPA), transportation infrastructure, healthcare sector, education sector, government agencies, food & beverage sector, etc. Retail applications account for the largest share of the overall market owing to high adoption by large ecommerce companies such as Amazon and Walmart. Business process automation