The
report by Transparency Market Research (TMR), the global
digital signage market
has highly fragmented and competitive landscape due to the presence
of numerous players operating in the global market. Some of the key
players in the market are NEC Corp., Panasonic Corp., Advantec Co.
Ltd., Cisco Systems Inc., Omnivex Corp., Sony Corp., Sharp Corp., LG
Electronics, BroadSign International, and Samsung Electronics Co.
Ltd. The emergence of several new players in the market is expected
to intensify the competition in the global market. The market players
are increasingly adopting techniques such as mergers, acquisitions,
and strategic alliances.
According to a report by
Transparency Market Research (TMR), the global digital signage market
was valued at US$21.50 bn in 2017 and is expected to expand with a
CAGR of 10.0% from 2017 to 2022, to attain the value of US$34.67 bn
by the end of 2022. The retail sector is dominating the digital
signage market owing to it attracts more customers and saves the
printing cost. North America market for digital signage is dominating
the global market and the region will continue its dominance with the
CAGR of 11.10%.
Knowledge of Benefits from
Digital Signage to Drive Growth
Benefits of the digital signage
technologies such as effective management of their design collaterals
and advertising creative content. The attractive graphical interface
of advertisement on digital and web media are fuelling adoption of
digital signage. Thanks to these benefits of digital signage,
adoption of these devices and technology in education, corporate,
banking, entertainment, transportation, and retail stores is
increasing. This is a key factor in fuelling the growth of the global
digital signage market. Additionally, an easy content update on
digital signage and a reduction in wait time due to the usage of the
internet are another factor propelling growth of the global digital
signage market.
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The digital signage has reduced
operational cost of retail and transportation industry through use of
digital advertisements rather than printing one. Media players,
displays, and network software are some of the services offered by
the digital signage. Growing demand for these services is augmenting
the growth of the global digital signage market. Furthermore,
high-quality content offered is increasing investments which are
fuelling its adoption across numerous verticals.
Risky Return on Investment
to Hamper Growth
Despite these growth prospects,
the risky and undeclared return on investment (ROI) is restraining
the growth of the global digital signage market. Digital signage
serves numerous utilities to the companies and does not provide any
benefits on the front of profitability. Furthermore, high initial
investment need for deploying digital signage technologies are
limiting the growth of the global digital signage market.
Nevertheless, increasing adoption of digital signage from banking and
transportation sectors are augmenting opportunities for growth in the
global digital signage market in near future.
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