Digital Signage Market share forecast to hit USD 23.02 billion by 2023: Global Market Insights Inc. Fuel Cell Market size worth $25.5bn by 2024
Key Insights from Digital signage Market: • LED based digital signage market share is anticipated to witness significant growth over the forecast timeline. The incorporation of LED backlit panels due to its energy saving features which diminishes the operational cost of an enterprise may provide opportunities to the industry. • In 2015, LCD technology based displays enjoyed significant presence, accounting for over 50% of the total digital signage market share. This was due to the decline in the prices of LCDs coupled with the advantages offered such as high resolution. • Healthcare applications are predicted to exhibit considerable growth prospects due to escalating adoption of the technology for numerous purposes such as display notices, delivering tips for improving patients’ health and sharing essential registration information. Retail dominated the digital signage market size with the revenue share of over 40% in 2015 owing to the rising adoption of the technology in the retail stores to boost customer experience. Furthermore, it aids in brand awareness, saves printing cost, and diminishes the operational costs.
Continued... • Asia Pacific digital signage market is anticipated to witness significant growth at a CAGR of nearly 6% over the next seven years. This growth is attributed to the decreasing cost of the display panels accompanied with the rising funding on infrastructure development in the region. In addition, the demand for enhanced visual experience and educational market development may surge the adoption of the technology in the region. • The U.S. digital signage market share is set to continue being the largest regional segment due to the presence of large number of suppliers of digital signage and services in the region. In addition, the rising technological advancements and urbanized infrastructure may drive the industry growth. • Companies operating in the industry include LG, Samsung, AUO, Cisco System Inc, Innolux, and Panasonic Corporation. Polk Audio, BrightSign LLC, and Scala Inc. Industry participants offer innovative solutions to help small or large businesses interact with their customers and develop creative marketing strategies. For example, in 2015, Samsung Electronics in South Africa delivered a solution for Mercedes-Benz for a renovation project to upgrade the company’s AMG Driving Academy. It helped the company to showcase the Mercedes-AMG vehicles in a digital arrangement.
Europe digital signage market size, by application, 2012 - 2023 (USD Million)
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360° Analysis • Application Analysis • Retail digital signage market share is expected to gain rapidly to exceed USD 10 billion by 2023. Several industry players are adopting the technology to create awareness among customers. Moreover, it ensures brand awareness and enhanced experiences, which is expected to fuel digital signage market share. Moreover, retail stores are implementing such technologies as it improves customer engagement and drives more footfall in stores. Moreover, saving in printing cost and improved operational efficiency will drive the demand in the near future. • Regional Analysis • U.S. digital signage market size led the global revenue in 2015 and is expected to continue dominate the industry over the forecast period owing to the increase in investments and high demand across retail and BFSI segment. Moreover, improved infrastructure and economic growth will further propel the regional growth in coming years. Asia Pacific digital signage market share is anticipated to witness significant growth at over 6% CAGR. Growth in emerging economies of Asia Pacific including China and India is expected to augment the regional demand. • Competitive Market Share • Key industry players include Samsung, LG, AUO, Panasonic, Cisco System Inc, Panasonic Corporation and Innolux. Other notable players include BrightSign LLC, Polk Audio, Scala Inc, etc. Industry participants are investing immensely in the R&D operations to offer advanced products for the verticals with high demand such as retail and education.
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