The global Digital Signage Market Will Reach $29,939.6 Million By 2024

The global Digital Signage Market Will Reach $29,939.6 Million By 2024

According to a new study, the global digital signage market is expected to reach $ 29.9396 billion in 2024.
Demand of the terminal industry, such as retail and healthcare, is growing and is expected to drive growth in the industry over the next eight years.
Because it has the ability to reach a large audience, digital signage creates and distributes content as an effective marketing strategy for enterprises.
Particularly in the corporate sector, will facilitate the adoption of it.
Larger screen sizes, such as those with more than 50 inches, are expected to be popular during the forecast period.

Digital displays with 4K technology are growing to meet the increasing demand for images with high sharpness.
Software providers have targeted new entrants by designing solutions that are compatible with Android operating systems.
The emergence of IoT paired with increasing adoption of cloud computing is expected to enable collection of vital operational and marketing data.
The use of digital signage reduces the company’s long-term operating costs by reducing the use of paper for advertising,
And combined with LED backlight panel, a significant savings in energy, reducing the operating costs of enterprises.

Further key findings from the study suggest:

Digital signage in 2015 led the global display industry, accounted for more than 50% of total revenue in the same year.
Decline in the prices coupled with the advantages offered by this technology over alternatives such as plasma display is projected
to fuel the digital signage over the forecast period.
Retail accounts for more than 40% of total revenue in 2015 and is expected to continue to be the largest application area in the next eight years.
The healthcare sector has great potential, as hospitals increasingly combine digital signage for many situations,
Such as sharing important registration information, showing notices and communicating health tips to improve the health of patients.
Transparent LED screen is expected to witness significant growth owing to its energy efficiency capability and sophisticated design offering more than 80% transparent screen.
Kiosk is significantly used in a number of application areas such as distribution terminals,
And is expected to be accounted for more than 22% of the total market share (in terms of revenue).

More and more hardware products of the 4K-UHD and 8K monitors are expected to occupy the component parts.
In addition, need for better sales capabilities and brand surge, which is expected to drive software demand.
North America has the largest market share, with more than 35% in 2015, and is expected to have a positive impact on regional markets over the next eight years
due to the growing demand for technical advanced customer segments in the application domain.
Including factors such as improving the viewing experience, education and government market development, declining display panel prices and the need for
increased infrastructure development and spending, could spur growth in the Asia-Pacific market.
The industry has started showing signs of consolidation in the wake of a mini spate of M&A (X2O Media’s acquisition by Barco) and joint ventures (LG Electronics Inc. and MRI).
Key vendors in the 9.1-inch and larger LCD panels space include LG Electronics Inc., Samsung Electronics Co. Ltd., Innolux Corporation and AU Optronics.