by Brianna Crandall — April 9, 2014—A new report from global market research and consulting company MarketsandMarkets explores the constantly changing and growing market for digital signage, which has become one of the most powerful sources for the display of media information, whether for information or advertising, in a variety of public and private markets. This report covers the digital signage market on the basis of components, applications, display technology, and geography.
According to Digital Signage Market by Hardware, Software (Edge Server, Distribution & Scheduling, Content Management), Application (Commercial, Infrastructure, Institutions, Industrial), Products (Indoor & Outdoor) & by Geography – Forecast to 2014 – 2020 , the total digital signage market is expected to reach $14,875.6 million by 2020, at an estimated compound annual growth rate (CAGR) of 8.94% from 2014 to 2020.
According to MarketsandMarkets, digital signage refers to any of the electronic displays that broadcast television programming, menus, information, advertising, and other contents. Digital signs utilizing technologies such as liquid-crystal displays (LCDs), light-emitting diodes (LEDs), plasma displays, or projected images to display content are found in both public and private environments, including retail stores, hotels, restaurants, sports and educational facilities, and corporate buildings.
Because of its inherent dynamic nature wherein the content may be frequently updated, and also by employing real-world interface such as embedded touch screens, image capture, and gesture recognition, digital signage is gaining a wide acceptance in the market, according to the report.
Digital signs rely on a variety of hardware to deliver the content. The components of a typical digital sign installation include one or more display screens, one or more media players, and a content management server. Sometimes, two or more of these components are present in a single device, but typically there is a display screen, a media player, and a content management server that is connected to the media player over a network.
Other than hardware, software is also one of the major growing markets of digital signage. Falling prices of the displays and increasing applications of DOOH (digital out-of-home) technology have increased the scope of the overall GPS market, as has increase in the demand of more integrated features in the digital signage system by customers.
The report covers all the driving factors, restraints, and opportunities affecting trends and key success factors for the market, as well as complete pricing and cost analysis of products, and technology roadmaps. Featuring over 80 market data tables with 49 figures spread through 219 pages, the report also profiles all major companies active in this field.
According to the report, major players in the digital signage market include but are not limited to: ADFLOW Networks (Canada), Cisco System Inc. (USA), Hewlett-Packard Company (USA), Keywest Technology (USA), Samsung Corporation (South Korea), NEC Display Solutions Ltd (South Korea), BrightSign LLC (USA), Polk Audio (USA), Onelan Ltd (U.K.), Panasonic Corporation (Japan), Winmate Communication Inc. (Taiwan), and Scala Inc. (USA).
The largest market share of digital signage is in North America and Europe, but it has a large scope in the Asia-Pacific (APAC) region, of which China and India will be taking the lead in the near future, according to the report. Emerging markets such as African and Arab countries are also expected to see positive growth.
