The global market for digital signage is witnessing a significantly high rise, thanks to remarkable technological advancements in infrastructure in the commercial as well as the public sectors, especially in emerging economies. This study presents a detailed assessment of the drivers and the restraints that govern the dynamics of the worldwide digital signage market, together with their impact on the demand for digital signage during the period from 2017 to 2022.
According to a report by Transparency Market Research (TMR), the global digital signage market was valued at US$21.50 bn in 2017 and is expected to expand with a CAGR of 10.0% from 2017 to 2022, to attain the value of US$34.67 bn by the end of 2022.
The retail sector is dominating the digital signage market owing to it attracts more customers and saves the printing cost. North America market for digital signage is dominating the global market and the region will continue its dominance with the CAGR of 11.10%.
Benefits of the digital signage technologies such as effective management of their design collaterals and advertising creative content. The attractive graphical interface of advertisement on digital and web media are fuelling adoption of digital signage.
Thanks to these benefits of digital signage, adoption of these devices and technology in education, corporate, banking, entertainment, transportation, and retail stores is increasing. This is a key factor in fuelling the growth of the global digital signage market. Additionally, an easy content update on digital signage and a reduction in wait time due to the usage of the internet are another factor propelling growth of the global digital signage market.
The digital signage has reduced operational cost of retail and transportation industry through use of digital advertisements rather than printing one.
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Media players, displays, and network software are some of the services offered by the digital signage. Growing demand for these services is augmenting the growth of the global digital signage market. Furthermore, high-quality content offered is increasing investments which are fuelling its adoption across numerous verticals.