Global Digital Signage Market By Offering (Hardware, Software, Services), Product Type (Standalone, Video walls), Size (Below 32 Inches, 32 Inches to 52 Inches, Above 52 Inches), Application (Indoor, Outdoor), Vertical (Institutional, Commercial, Industrial, Infrastructural, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Digital signage is an electronic signage which uses the combination of the hardware and software for displaying the visual information. It has been used in the retail, hospitality, banking and other related sectors for more customer engagement and interaction. Digital signage usually consists of LCD, LED or a similar display system which is connected to the content management system or software that sends the display system the data to be displayed.
Digital Signage is most commonly used for the outdoor marketing and for the real time information to the customers and employees. The information shared on the screen can be static data, charts, graphs, images, videos and/or streaming content. The digital signage is also used for providing the emergency messages, weather reports and detailed information related to the environment.
Digital signage uses display, projectors, and media players as hardware for projecting the information, video or image into a dynamic visual display. It can be used for advertising, menu boards, billboards, kiosks, videowalls for showing the information which depend on the applications’ requirements. Digital signage uses different types of technology for displaying the content like LCD, LED, OLED, DLP. It helps in getting the audience attention as it provides attractive & different content to them. Sometimes by using some software, the general demographics information of the viewers can be captured and by using the content management software it can be customized.
Global digital signage market is projected to register a CAGR of 11.1% in the forecast period of 2019 to 2026.
Segmentation: Global Digital Signage Market
Global digital signage market is segmented into five notable segments which are offering, size, product type, application and vertical.
On the basis of offering, the market is segmented into hardware, software and services. Hardware is further segmented into display, projectors, media players and mounts & accessories. Software is further segmented into content management system, edge server software and others. Services are further segmented into maintenance & support services, installation services and consulting & other solution. Hardware segment is likely to grow at the highest CAGR in the forecast period of 2019 to 2026.
In April 2019, Sony Corporation has announced the launch of the Crystal LED display system which has unique display technology called “CLEDIS which has resolution of 16K by 4K, and the size of the video wall is 19.2m wide and 5.4m height.On the basis of application, the market is segmented into indoor and outdoor. Outdoor segment is likely to grow at the highest CAGR in the forecast period of 2019 to 2026.
In March 2017, Omnivex has announced the launch of the digital communications platform, Omnivex Ink which enables quick and easy share secure, personalized, real-time information on any device with the employees and customers.
On the basis of size, the market is segmented into below 32 inches, 32 to 52 inches and above 52 inches. Above 52 inches segment is likely to grow at the highest CAGR in the forecast period of 2019 to 2026.
In September 2018, Panasonic Corporation has announced the launch of the digital signage solution called SignEdge, an ideal platform which would help the companies to showcase their creative advertising and branding campaigns.
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. Video walls segment is likely to grow at the highest CAGR in the forecast period of 2019 to 2026.
In October 2018, Planar Systems has announced the launch of the indoor and outdoor LED video wall displays which are highly adaptable and quick to install and can be used in applications like in live events, signage and billboards.
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. Commercial segments are likely to grow at the highest CAGR in the forecast period of 2019 to 2026.
In March 2019, Planar Systems has been chosen for installing the LED video screens at Park stadium in downtown Portland by Portland Timbers and Portland Thorns FC. The screens would be used for scoreboard and in-house video capabilities.
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.
- In February 2019, BrightSign LLC has announced the partnership with Adomni for the Adomni Ad Marketplace which will allow the BrightSign media player owners to unlock new revenue streams by connecting their digital screens to the Adomni digital out-of-home (DOOH) marketplace.
- In January 2019, BrightSign LLC has announced the launch of the Audio Authority which uses BrightSign SoC for enabling audio and video content distribution within the media hubs that will help in delivering a custom array of inputs and outputs designed to create unique and engaging customer experiences for each application.
- In March 2017, Omnivex has announced the launch of the digital communications platform, Omnivex Ink which enables a quick and easy share secure, personalized and real-time information on any device with the employees and customers.
- In January 2017, ViewSonic has announced the partnership with Enplug for the modern digital signage software to be installed in Smart Signage displays at the ISE 2017. This would upgrade the display product of the company and they can offer upgraded display solutions to the market.
Research Methodology: Global Digital Signage Market
Primary Respondents: OEMs, Manufacturers, Engineers, Industrial Professionals.
Industry Participants: CEO’s, V.P.’s, Marketing/Product Managers, Market Intelligence Managers and, National Sales Managers.