Global digital signage market is projected to register a CAGR of 11.1% in the forecast period of 2019 to 2026.
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The growing urbanization across the world wide has enforced the government to increase their investment for constructing smart city in the present scenario. This development further increases the usage of technology for every aspect. The company has to use the advanced technology system or products for doing advertisements for smart city. The major benefit of using the digital signage is that it is highly cost effective, intention seeker; minimize the operational cost of the business related to the paper work or printing cost and many more. Owing to this the market player continuously innovating the features of the existing products that help the company to remain competitive in the market. For instance, In 2015, the Samsung Electronics had introduced the smart signage TV. The features offered by these solutions are that it this display can run continuously 16 hours a day
Competitive Analysis: Global Digital Signage Market
Some of the major players operating in this market are Koninklijke Philips N.V., LG Display Co., Ltd., Microsoft, SAMSUNG, Sony Corporation, Panasonic Corporation, Planar Systems, Omnivex Corporation, SHARP CORPORATION, NEC Corporation, AU Optronics Corp., Goodview, Scala Digital Signage, Winmate Inc., Keywest Technology, Inc., Cisco, BrightSign, LLC, Barco, ViewSonic Corporation, STRATACACHE, ADFLOW Networks and others.
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Market Trends Global digital signage market is segmented into five notable segments which are offering, size, product type, application and vertical.
- On the basis of application, the global digital signage market is segmented into indoor and outdoor. In 2019, the indoor segment is projected to lead with 58.15% market share, whereas the outdoor segment is growing with the highest CAGR of 12.7% in the forecast period of 2019 to 2026.
- On the basis of size, the global digital signage market is segmented into below 32 inches, 32 to 52 inches and above 52 inches. In 2019, the below 32 Inches segment is projected to lead with 55.49% market share, whereas the above 52 inches segment is growing with the highest CAGR of 12.5% in the forecast period of 2019 to 2026.
- On the basis of product type, the global digital signage market is segmented into standalone and video walls. Standalone is further segmented into Kiosks, Menu Boards, Billboards and others. In 2019, the standalone segment is projected to lead with 65.77% market share, whereas video walls segment is growing with the highest CAGR of 13.0% in the forecast period of 2019 to 2026.
- On the basis of the vertical, the global digital signage market is segmented into institutional, commercial, industrial, infrastructural and others. The institutional is further segmented into banking and education. The commercial is further segmented into retail, healthcare, corporate, government, hospitality and others. The infrastructural is further segmented into entertainment and transportation. In 2019, the commercial segment is projected to lead with 35.33% market share also growing with the highest CAGR of 11.8% in the forecast period of 2019 to 2026.
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