DMI segments the Global Digital Signage Market by geography into – North America, South America, Europe, Asia-Pacific (APAC), and Middle East and Africa.
Global Digital Signage Market
Digital signage is a sub-segment of electronic signage. Digital displays use technologies such as LCD, LED, projection and e-paper to display digital images, video, web pages, weather data, restaurant menus, or text. They can be found in public spaces, transportation systems, museums, stadiums, retail stores, hotels, restaurants and corporate buildings, etc., to provide wayfinding, exhibitions, marketing and outdoor advertising.
Growth in digital OOH will Fuel growth in the market over the forecast period
The market is primarily driven due to the increased popularity of digital-out-of-home or digital outdoor media for advertising outside the home. Out-of-home (OOH) advertising or outdoor advertising, also known as out-of-home media or outdoor media, is advertising that reaches the consumers while they are outside their homes. Out-of-home media advertising is focused on marketing to consumers when they are "on the go" in public places, in transit, waiting (such as in a medical office), and/or in specific commercial locations (such as in a retail venue). It includes a digital display, digital billboard, or digital signage that changes the advertising content remotely with the use of LED and screen technology. Digital-Out-of-Home consists of two platforms that effectively enable the outdoor advertising of various brands.
Digital Signage advertising is unlocking various opportunities for advertisers to reach the target audience more effectively. Digital Signage also plays a vital role in smart city projects. The full-motion digital locations linked with Wi-Fi technology are equipped with facial recognition technology to offer connectivity to mobile audiences. With the advancement of mobile-based digital networks and rising internet penetration, Digital Signage advertisers are extending location-based advertisements to engage customers from anywhere. Therefore, the market is expected to witness significant growth during the forecast period.
However, variation in regulations related to OOH advertising such as the content and size across different regions, volatile cost of advertising, and lack of real-time and detailed consumption data, might hamper the growth of the market during the forecast period.
Standalone display segment dominated the Digital Signage market
By Type, the global digital signage market is segmented into the video wall and standalone display (Billboards, signboards, Transit displays, and Others). The distribution of ad sales across segments is highly varied, depending on industrial history, geography, and regulation. Large format roadside billboards are the number one segment in most markets like the US, India, and Russia. The share of digital inventory and digital revenue varies across market segments and environments.
By industry vertical, the global digital signage market is segmented into Retail, Healthcare, Government, Transportation and Public Places, Sports and Entertainment, BFSI, and Others. Rising awareness and popularity of Digital signage, the retail segment is expected to witness double-digit growth rate during the forecast period. It is a modern form of advertising that uses digital media for endorsing audio and video messages related to product or services outside the home. Digital signage has effectively replaced the traditional and orthodox forms of marketing and advertising.
This process enables advertisers and local vendors to engage their customers in real-time to track effectiveness from the marketing messages displayed using digital signage. These digital screens display the advertisements of brands and real-time news, weather, and entertainment that draw the attention of travelers at airports.
Asia-Pacific accounts for the major share in Digital Signage Market
DMI segments the global Digital Signage market into – North America, South America, Europe, Asia-Pacific (APAC), and the Middle East and Africa.
In 2018, North America and APAC together held more than 65% of share in the global market, mainly due to rising urbanization in countries like China, India, and Mexico. Also, increasing adoption of digital signage in developed countries like the US, Japan, and South Korea will further result in significant growth in the market.
Infrastructural development, particularly in the emerging economies, will increase the space which can be used for outdoor advertising. The transport system also represents a profitable means of outdoor advertising as a large number of people use public transport to commute. The modernization of public transport will further drive the growth of this market. Other factors include the onset of digital outdoor advertising, growth of the retail sector and rising urban population.
Highly Concentrated Competitive Market with Few Major Contributors
The global Digital Signage market is highly competitive. Key market players include Samsung Electronics, LG Electronics, Sharp (Foxconn), Leyard Optoelectronic (Planar), NEC Corp., Barco, Panasonic, Shanghai Goodview Electronics, AU Optronics, Daktronics (Adflow Networks), and among others. Key players are adopting strategies such as investing in R&D, new product launches, development of new technologies, and enhancing the old technology & software to stand out as strong competitors in the market.
Digital Signage Market Taxonomy:
About: DataM Intelligence
DataM Intelligence was established on an elemental idea of publishing Advanced Market Research Reports with precise data points & utmost accuracy that will accelerate the decision making in designing disruptive solutions. This aids us in providing the detail scenario of the present and future of the market.
For more insights, please visit, [email protected]
Tags: #digitalsignagemarket, #digitalsignagesize, #digitalsignageoutlook, #digitalsignageshare, #digitalsignageforecast, #digitalsignageanalysis, #digitalsignagetrends, #digitalsignagegrowth