The Global Market for Digital Signage Systems is Projected to Reach US$31.7 Billion by 2024
New Technologies and Growing
DOOH Advertising Drives the Global Market for Digital Signage Systems,
According to a New Report by Global Industry Analysts, Inc.
GIA
launches comprehensive analysis of industry segments, trends, growth drivers,
market share, size and demand forecasts on the global Digital Signage Systems
market. The global market for Digital
Signage Systems is projected to reach US$31.7 billion by 2024, driven by new technologies,
increasing opportunities for customization, and growing opportunities in Direct-Out-of-Home
(DOOH) advertising.
Newspapers,
magazines, radio, and television have been traditional means of disseminating
information, and news. Technology developments over the years have helped
redefine mass communication by revolutionizing the way in which organizations
can relay information to large segments of population at the same time. Advanced
technologies that have emerged over the years have enabled dynamic information
delivery, and have accelerated the pace at which information can be delivered
to target audiences. Digital signage system is one such progressive advancement
that combines power of digital displays such as LCDs and LEDs with efficient
content management and digital media distribution systems. Digital signage is
transforming global industries and has become a necessary tool for numerous
sectors from healthcare, educational institutions, corporate offices,
non-profit organizations, airports and hospitals to small scale retailers to
enhance the customer experience. The technology concept is a specialized form
of silvercasting where digital multimedia content such as images, video, and streaming
media can be displayed at public places for advertising or information purpose.
Evolving since mid-90s, digital signage systems now represent one of the most
potent channels for displaying media at key public spaces such transit points, stadiums,
museums, retail outlets, educational institutions, hospitals, and hotels & restaurants,
among others.
One
of the factors driving modern digital signage is increased customization and
the trend is expected to further accelerate in the future. Another trend in
digital signage is growing focus on distinctive messaging for specific
audience. Companies are seeking comprehensive solutions covering multiple
locations, multiple users and customized content targeted at diverse audiences.
The growing demand for enterprise-wide solution is turning digital signage
solutions into more diverse and complex systems. The rising popularity of the interconnected devices and
IoT
demonstrates the importance of interactivity in the present world. Digital
signage is also expected to follow suit. While display of contextual and
relevant content makes shoppers remain inside the store longer, enabling
customers to engage as well as interact with such content will help encourage
spontaneous buying thus leading to greater sales leads. Interactive digital
signage solutions such as touchscreen devices, location-based services (LBS),
or lift-and-learn applications to highlight marketing messages are poised to
grow in prominence in the coming years.
As
stated by the new market research report on Digital Signage Systems, Asia-Pacific represents
the largest as well as the fastest growing market worldwide, with a CAGR of 13.9%
over the analysis period. The growth in the region is led by factors such as developing
economies, increased consumption and goods and services, escalating consumerism
and the resulting development of retailing infrastructure, growing competition in
the retail sector and a parallel increase in advertising budgets of marketers; growing
government budgets for improving the public communication infrastructure; mind-bending
rise in e-Commerce and the resulting growing pressure on physical retail stores
to reboot their customer experiences through new disruptive technologies.
Key
players in the market include Barco N.V., BrightSign LLC, Daktronics Inc.,
Dynasign, Extron Electronics, Four Winds Interactive LLC, LG Corporation,
Nanonation Inc., NEC Corporation, NEXCOM International Co. Ltd., Samsung
Electronics Co. Ltd., Scala Inc., Sharp Corporation, SIIG Inc., and Sony
Corporation, among others.
The
research report titled "Digital Signage Systems: A
Global Strategic Business Report" announced by Global Industry Analysts Inc.,
provides a comprehensive review
of market trends, issues, drivers, mergers, acquisitions and other strategic
industry activities of global companies. The report provides market estimates and
projections for all major geographic markets such as the US, Canada, Japan,
Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe),
Asia-Pacific (China, India, South Korea, and Rest of Asia-Pacific), Middle East
& Africa, and Latin America (Brazil, and Rest of Latin America). Product
segments analyzed in the report include Digital Signage Displays, Digital
Signage Set Top Boxes, Computers, & Media Players, Digital Signage Software,
and Others.
Comments
Post a Comment