The digital signage market value is expected to reach USD 27.34 Billion by 2022, according to a report published by MarketsandMarkets.
The demand for emerging technologies used in ultra-high definition (UHD), LED-LCD and OLED displays is expected to accelerate the growth of the digital signage market during the forecast period. The increasing demand for digital signage, improvements in technology offerings and infrastructure expansion is expected to fuel the digital signage market. In addition, the integration of real-time data management tools, big data analytics and smart content with multiple presentations and dynamic interfaces will further drive the market for public commercial displays.
The expected growth of the digital signage market for software offerings is higher than that for hardware offerings as hardware devices such as displays, media players, projectors, and mounts & other accessories do not require frequent purchases or replacements. The high growth of the market for software offerings is due to software licenses needing to be regularly updated.
Kiosks held the largest market share of the global digital signage market for products in 2015 and are expected to dominate the market till 2022. Kiosks play a significant role in the digital signage market for providing access to information and communication, commerce, entertainment, education,and other applications. Kiosks are quick and effective solutions which can be used virtually in all locations.
North America is expected to hold the largest market share and dominate the Digital Signage Market between 2016 and 2022, owing to the large number of suppliers of digital signage technologies and services in the region. The digital signage market in APAC and Europe is expected to have a promising future with tremendous opportunities, especially in commercial and infrastructural sectors.
The major players in the digital signage market include Samsung Electronics Co., Ltd. (South Korea), LG Display Co., Ltd. (South Korea), Sharp Corporation (Japan), Sony Corporation (Japan), and Panasonic Corporation (Japan) among others.