Digital Signage Market to Reach $32.8 Billion by 2023: Growth of Retail Centers & Advent of Digital Technology Drive Growth
DUBLIN, August 2, 2017 /PRNewswire/ --
The "Digital Signage Market - Global Forecast to 2023" report has been added to Research and Markets' offering.
The global digital signage market was valued at USD 19.61 Billion in 2016 and is expected to reach USD 32.84 Billion by 2023, at a CAGR of 7.4% during the forecast period.
Digital signage has seen major deployment in the retail sector. Retailers prefer digital signage as it offers the ability to change what is being displayed on the signage without much effort in terms of time or money, thereby saving cost in the long run. The ability to display vivid content, including videos, also supports the growth of the digital signage market. Another key factor impacting this market is the landscape in the display technologies.
With ASPs for display technologies showing a downward trend in the coming years, the initial cost can be brought down further that can result in the higher adoption of digital signage. This reduction will also enable growth for signage that demand premium displays. On the flip side, the growth in online advertising serves as a potential threat to the market. Furthermore, the higher initial cost in comparison to the traditional displays plays a critical role in moving customers from traditional signage to digital signage.
Increasing deployment of digital signage solutions is likely to help the tourism and hospitality industries to grow further. Digital signage market is boosted as the adoption of these solutions is increased with the availability of high-resolution displays at a lower price, which is the key reason for the growth of this adoption. Also, there are opportunities for the DOOH market to grow by utilizing new technologies in advertisements to interact directly with consumers and even act as a PoS. Digital signage products such as interactive kiosks, displays, and video walls are installed at various locations such as airport, malls, and retail stores.
The growth of retail centers and advent of digital technology has shown a great impact on the global signage market. Technological innovations such as touchscreen technology, near-field communication (NFC), and beacons have created opportunities for this market. The growth of the digital signage is mainly dependent on the how much and when information is viewed by individuals at different places and locations. It is more visible and user-friendly than the printed media; it is also cost-effective in the long run as there are no additional costs required to change content. However, the lack of standardization and awareness about digital signage are the factors restraining the growth of the market.
Companies Mentioned
- 3m (US)
- Adflow Networks (Canada)
- Au Optronics Corporation (Taiwan)
- Barco Nv (Belgium)
- Benq Corporation (Taiwan)
- Broadsign International LLC (Canada)
- Christie Digital Systems USA, Inc. (US)
- Cisco Systems Inc. (US)
- E Ink Holdings, Inc. (Taiwan)
- Exceptional 3d (US)
- Intuilab Sa (France)
- LG Display Co., Ltd. (South Korea)
- NEC Display Solutions, Ltd. (Japan)
- Omnivex Corporation (Canada)
- Others
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Market, By Product
8 Market, By Offering
9 Market, By Application
10 Geographic Analysis
11 Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/research/8ph42x/digital_signage
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