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| Digital Signage Market |
Market Overview:
The global digital signage market is estimated to reach a value of US$26.46 Bn by 2023, exhibiting a CAGR of 7.8% during the forecast period
of 2023 to 2030. Digital signage refers to electronic display boards used for
advertising and informational purposes in various industries such as retail,
transportation, healthcare, and hospitality. The advantages of digital signage
include cost-effectiveness, real-time content updates, and enhanced engagement
with customers. The growing need for effective advertising and communication
tools, along with advancements in display technologies, drives the demand for
digital signage solutions.
Market Key Trends:
One key trend in the digital signage market is the adoption of interactive
displays. Traditional static displays are being replaced by interactive ones,
enabling users to interact and engage with the content. Interactive displays
offer a more personalized and immersive experience to customers, resulting in
increased brand recall and customer satisfaction. These displays are being
widely used in retail stores, museums, and corporate offices to provide
information, entertainment, and engage customers through touchscreens, gesture
recognition, and augmented reality. The increasing demand for interactive and
engaging content drives the growth of the digital signage market. Key players
in the market include Samsung Electronics, LG Electronics, Panasonic
Corporation, Sony Corporation, and Intel Corporation, among others.
Segment Analysis:
The Digital
Signage Market Size can be segmented based on type, component,
application, and end-use industry. Based on type, the market can be divided
into standalone and video walls. The video walls segment is expected to
dominate the market during the forecast period. This can be attributed to the
increasing demand for large-format displays in areas such as retail,
healthcare, and transportation. Video walls offer enhanced visibility, high
resolution, and flexibility, which makes them suitable for various applications.
Key Takeaways:
The global digital signage market is expected to witness high growth,
exhibiting a CAGR of 7.8% over the
forecast period. This growth can be attributed to increasing demand for digital
signage in retail, healthcare, transportation, and other sectors. The market is
expected to reach US$ 26.46 Bn in
2023.
In terms of regional analysis, North America is expected to be the
fastest-growing and dominating region in the digital signage market. The region
has a strong presence of key players and a highly developed infrastructure,
which supports the adoption of digital signage technology. Additionally, the
growing demand for digital advertising and the increasing number of retail
outlets are driving the market in this region.
Key players operating in the digital signage market include Samsung
Electronics, Daktronics, Exceptional 3D, LG Electronics, Panasonic Corporation,
Sony Corporation, Leyard Optoelectronic Co., Ltd., Scala, E Ink Holdings Inc.,
Deepsky Corporation Ltd., Intel Corporation, and Microsoft Corporation. These
players are focusing on product development, partnerships, and mergers and
acquisitions to gain a competitive edge in the market.
Read More: https://www.dailyprbulletin.com/digital-signage-market-increasing-demand/