According to a new market report published by Credence Research Inc., “Digital Signage Market (By Type (Digital Signage Displays, Digital Signage Media Player and Projector, Digital Signage Software, and Others), By End-use Application (Retail, Banking, Education, Healthcare, Transportation, Corporate, and Others)) Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2022”, the digital signage market is expected to witness a double digit CAGR during the forecast period 2016 to 2022.
Digital signage is an electronic display that uses LED, LCD and OLED technologies, among others, to display digital images, videos, streaming media and data. Such approaches have become increasingly sophisticated with advances in software skills, integration technologies and the advent of smart content distribution platforms.
Digital signage solutions trace their roots back to the previous decade, when only pre-recorded information was displayed on display boards to engage customers. Since then, these solutions have come a long way, largely thanks to the advent of broadband Internet, rich media resources, digital display technologies and network-based delivery solutions. Digital signage solutions are steadily gaining widespread acceptance across both private and public environments due to their ability to deliver dynamic content and real-world interfaces.
The global digital signage market is highly technologically focused and competitive. Collectively, the top four participants in the global digital signage market account for less than 45 per cent of global market sales.
Some of the leading players identified in the global digital signage market include LG Display Co., Ltd., AU Optronics Corporation, Panasonic Corporation, Samsung Electronics Co., Ltd. , Sharp Corporation, Sony Corporation, Omnivex Corporation, NEC Display Solutions, Ltd., Adflow Network, Inc. and Planar Systems, Inc. among others.
The global digital signage industry also includes a large number of niche players, each with a negligible market share. The global digital signage market is driven by innovation, and competition between market players is expected to remain strong throughout the 2016-2022 forecast period.
- Introduction of hybrid digital signage solutions has opened-up new commercial opportunities
- Advancements in NFC-enabled digital signage solutions to revolutionize market prospects
- Highest penetration in the retail sector
- Growing adoption for building brand identity and in-store promotion
- Interoperability Issues