Widespread use of display technologies in various industries drives digital signage market growth
Global Digital Signage Market size was greater than $15 billion for 2015 and is predicted to register CAGR of 5.2% during forecast timeframe. Innovations in display panel production techniques have led to substantial price decline predicted to positively affect global digital signage industry trends. Software dealers are growingly concentrating on entry level items. Execution of flip clip technology leading to good dissipation of heat, reduced LED failure and large availability of light angles is predicted to lessen digital signage market price trend.
However, lack of standards to assure interoperability between these two equipment kinds is one of the key challenges to industry growth. Creating advanced solutions with already available commercial media players and displays is a key threat to the growth of the industry due to interface compatibility.
Producing and distributing contents through digital signage technology is rapid and cost effective. For example, a hotel can make use of digital signage to promote its shopping amenities, dining services and recreation facilities.
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The industry is segmented into various applications like retail application and healthcare application. Retail application contributed more than 40% of global industry share for 2015. It is predicted to continue its domination in future.
Healthcare segment features positive regulatory scenario for industry growth. It is predicted to register 7% CAGR during forecast timeframe. Pharmaceutical Research and Manufacturers of America has made such regulations that disallows pharmaceutical firms from following the traditional practice of distributing notepad and branded pens to physicians for marketing their products. The new rules have compelled the firms to explore 3D technology based digital signage as a feasible marketing tool. Further, this technology assists in reducing perceived patient waiting times by curbing their anxiety through entertainment.
Display Technology Trends
LCD display technology contributed to greater than 55% of the industry share for 2015 but is predicted to expand at sluggish rate than global average during forecast period. Large screen sizes like those bigger than 50 inch displays are predicted to experience higher acceptance during forecast timeframe. In contrast to this, small sized displays are predicted to lose their industry share due to declining LCD costs and rising digital signage market size.
LED displays are attractive segment with CAGR predicted over 6% in future.
U.S. digital signage market size was $4.4 billion for 2015. Rising demand across various application areas is predicted to positively affect the industry growth of the region.
Favourable application overview along with improved user experience is a key factor driving the industry growth in Asia Pacific. Regional demand for the digital signage across transportation segment is predicted to register a CAGR of about 7% during the forecast period.
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Key industry players profiled in the report include Panasonic Corporation, Samsung Electronics, LG Electronics, NEC Display Solutions Limited, Scala Incorporation, Adflow Networks, Cisco Systems Incorporation, KeyWest Technology Incorporation, Microsoft Corporation, BrightSign LLC, Intel Corporation, Omnivex Corporation, Polk Audio and Winmate Communication Incorporation.
Author Name : Dhananjay Punekar