Electronics
Digital Signage Market Driven by Increased Demand for Interactive Displays
Digital Signage Marketplace Expanding Consistently
As we become more captivated to the digital world, digital signage plays a significant role for enterprises. In instances where interactive displays such as touch screens are used, digital signage becomes more user-friendly. Digital signage allows to advertise your product or business, provide in-store entertainment, offer a personalized experience or talk directly to the customer. Owing to factors such as expanding urbanization, the rise in demand for the quality products, and rising expansion of the digital space, the adoption of digital signage will also increase.
Furthermore, signage display can be deployed as an integral part of the customer relationship management process as they enable effective information dissemination and attract more customers. All these factors will propel the growth of the digital signage market in the near future. According to an IndustryARC report analysis, the global digital signage market size was between $3.5 billion to $4.0 billion in 2018, and the demand is estimated to grow at a profitable CAGR ranging from 14% to 18% during the forecast period 2019-2025.
Digital signage, also called dynamic signage, is a specialized form of silver casting in which video or multimedia content is displayed in public places for informational or advertising purposes. A digital sign usually consists of a computer connected to a large, bright digital screen as LCDs. In the recent past, digital signage has become an extremely powerful tool in the field of retail. Retail customers today want access to products and deals regardless of whether they are shopping online or in a store. By using digital signage, providers can now deliver interactive cross- channel shopping experience that gives the customer the convenience of online shopping in the stores.
Based on the geographical analysis provided by the IndustryARC report, North America holds the major share of around 30% to 35% among other regions in the global digital signage market as of 2018. The information is based on a recent business intelligence report from IndustryARC, “Digital Signage Market: By Display Technologies (2D and 3D Displays), By Components (Display, Network and Others), By Applications (Advertising, marketing and others), By End-User Industry (Corporate, Entertainment, Others), By Geography – Forecast (2019-2025).”
Global Digital Signage Market: Segment Analysis
The analyst of the report has identified that in terms of end-user segments, the transportation sector is holding a major share in the digital signage market, estimating the value of the segment to increase at a CAGR of around 16% to 18% during the forecast period. Signage displays in the transportation industry can enhance the travel experience by enabling interactive installations and programs that help people travel from one point to another more conveniently. Digital screens are increasingly being displayed inside public transportation vehicles, taking transit communication beyond static environments such as terminals and airports. There are many buses, trains, cars, taxis, trams, and planes that use digital displays and LED screens, not only as in-transit communication devices but also as entertainment systems and perhaps most commonly, as marketing tools.
Global Digital Signage Market: Latest Trends and Key Drivers
- The digital signage mixed with IoT has the ability to create a completely immersive experience between products and services and the customer. The IoT provides businesses the ability to connect with consumers directly, creating a unique relationship.
- The rising demand for adopting innovative products that require digitized information management and guidance that can be accessed from remote locations. This is one of the key drivers anticipated to enhance the global digital signage market growth over the forecast period.
- Digital signage is moving from simple display to interactive content quickly because of the emerging use of touch screens.
