A report by Research and Markets titled ‘Global Digital Signage Market (2018 – 2024)’ says that the Global Digital Signage Market size is expected to reach $29.8 billion by 2024, rising at a market growth of 8.6% CAGR during the forecast period. The growing awareness among consumers considering the drawbacks and complexity of conventional advertising like short-lived print marketing is instigating the adoption of digitised advertisement.
Furthermore, the efforts of display designers, researchers, and advertisement companies are making more expenditures on the display technology of a product. Thus, all of this is expected to lead to a spurt in growth.
Based on end user, the market is segmented into retail & corporate, hospitality & entertainment, infrastructural, institutional, and others. Over the past few years, the commercial sector around the globe has experienced significant changes due to rapid technological advances and digitisation.
Therefore, well-established competitors as well as latest market participants are presently investing in product development, brand enhancing, and customer retention and leadership, leading to enhanced rivalry among them. As a consequence, all these businesses are investing to improve the image of their products and services by advertising them through internet marketing, exhibitions and personalised display installations in their indoor and outdoor advertising campuses.
On account of all these factors, the development of digital signage has been the most substantial. It has evolved from a simple marketing medium to an efficient strategy for retail engagement. Rapid technological advances and digitisation in the business industry are thus pushing the digital signage market.
This report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Samsung Electronics Co. Ltd., Omnivex Corporation, Panasonic Corporation, NEC Corporation, Sony Corporation, STRATACACHE Inc., Leyard Optoelectronic Co., Microsoft Corporation, Delta Electronics Inc., and LG Electronics Inc.
