Digital Signage Market Segmentation
By Product (Kiosks, Video Walls, Transparent LED Screen, Menu Boards, Billboards, and Sign Boards), By Component (Hardware [Displays, Media Players, Projectors, Mounts & Other Accessories], Software, and Services), By Technology (LCD, LED, and Projection), By Application (Retail, Corporate, Banking, Healthcare, Education, and Transportation), By Region (North America, Europe, Asia-Pacific, Central & South America, and Middle East & Africa), End-use Landscape, Vendor Landscape and Competitive Landscape
Digital Signage Market Insights
The global digital signage market is influenced by rising demand for the digital promotion of goods and services in order to gather the attention of the target audience in an effective manner. The growing demand for these products in the commercial sector coupled with increasing infrastructure expansions is expected to foster the demand over the forecast period.
The rising demand for innovative products such as monitoring systems and leak detectors along with complicated monetary products are anticipated to foster the growth of the industry. Increasing use of digital marketing instead of traditional forms of marketing such as print marketing coupled with innovative designs of the display designers is expected to stimulate the market growth.
Factors such as electrical interface, networking, and compatibility of hardware & software are likely to restrain the digital signage market growth over the forecast period. Moreover, the taxes levied by the government are also projected to hamper the industry growth.
Digital Signage Market - Product Insights
On the basis of product, the digital signage market is segmented into kiosks, video walls, menu boards, billboards, transparent LED screens and signboards. The market for video walls is expected to occupy the highest share over the coming years.
The market for kiosks is also anticipated to grow at a significant rate due to easy installation mechanisms, connectivity, and low price. The industry is also expected to be dominated by the transparent LED screens as they are energy efficient and offer high resolution.
Digital Signage Market - Component Insights
The digital signage market is segmented into hardware, software, and services on the basis of components. The hardware component dominated the highest share of the market in 2016 and it is further anticipated to retain its position over the forecast period. The hardware component is segregated into media players and projectors among others.
The software segment is anticipated to grow at a significant rate owing to the regular need of updating software licenses along with continuous up gradations in this segment. The market of services is expected to grow at a steady rate mainly due to the lower maintenance issues occurring in this segment.
Digital Signage Market - Technology Insights
On the basis of technology, the digital signage market is segmented into LCD, LED, and projection. LCD technology is projected to hold the largest share of the industry due to its low manufacturing cost and widespread adoption in the advertisement and marketing industry.
The LED segment is also expected to grow at a significant rate due to its high-quality display. Furthermore, the advancement of OELD displays which provides superior picture quality is also likely to boost the growth of this segment.
Due to its complex nature in terms of installation, the projection segment is anticipated to grow at a steady pace over the forecast period.
Digital Signage Market - Application Insights
Digital signage finds its application in retail, corporate, banking, healthcare, education, and transportation industries. The retail sector is anticipated to occupy the highest share of the digital signage market as it is accounted to be the largest consumer of digital advertisements to promote its goods and services.
The increasing use of technology by the banking sector is also expected to stimulate the market growth. The increasing number of ATM’s, banks and e-banking centers is further anticipated to be the factors behind this growth. The transportation sector is also expected to grow at a lucrative rate due to increasing number of digital displays & posters at airports and stations.
Digital Signage Market - Regional Insights
North America & Europe are projected to record the highest growth in the digital signage market on account of growing number of manufacturers of industrial products coupled with the increasing demand by the retail sector. In countries such as UK and Germany, the increase in R&D by manufacturers to enhance the advertisement quality along with government initiative to install digital signage is anticipated to boost the market in these regions.
Europe accounted for the largest market share in the global digital signage market due to high R&D investment coupled with increased government focus on the use of low carbon emitting fuels. Countries such as Germany, Italy, France, and the UK are expected to be the major consumers of digital signage market owing to increase in the number of automotive industries in these regions.
Countries such as India, South Korea, and China are expected to grow at a significant rate owing to the rising application of this technology in the retail, banking, and hospitals. Moreover, the increasing disposable income of the consumers in these economies has led to an increase in the usage of advertisement by industries to promote their products among the consumers.
Digital Signage Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase from digital signage market. Some leading consumers of this market are Wal-Mart Stores, Inc., Costco Wholesale Corporation, and Kroger Company.
Digital Signage Market: Competitive Landscape
The global digital signage market is expected to be significantly large due to the presence of numerous major manufacturers. The key players include Exceptional 3D (The U.S.), Scala, Inc. (The U.S.), Omnivex Corporation (Canada), Microsoft Corporation (The U.S.), ADFlow Networks (Canada), Samsung Electronics Co., Ltd. (South Korea) and LG Display Co., Ltd. (South Korea) among others.
In October 2017, e-Marketer (marketing research firm) announced that the overall digital marketing industry share is expected to reach $1.21 billion in 2017, due to the growing popularity of digital advertisement & marketing.
On October 2017, Proctor & Gamble (The highest advertising company) officially announced that it is working with social media platforms like Facebook, Instagram, and Snapchat so as to create a new generation of digital advertisement.
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