Digital Signage Market 2023 Evolution Opportunities, Demands and Growth Revenue
Category: #technology  By Ronak Bora  Date: 2020-01-16
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Digital Signage Market 2023 Evolution Opportunities, Demands and Growth Revenue

The digital signage market report covers an in-depth study of each segment comprising application, display technology, driving force and region. The research elaborates insights on this industry in terms of several parameters, such as industry outlook, market segmentation, growth drivers favoring commercialization graph of business trends and global drifts characterizing the industry.

The application spectrum is segmented into banking, corporate, healthcare, education, transportation and retail. Based on the characterization and application of digital signage, the document covers the driving factors and regional influencers promoting market share. The vital drivers responsible for steering the application segment during the projected timeframe and rapidly expanded business trends are shared in the report.

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The report claims that the display technology of digital signage market is classified into LCD, LED and front projection. Key pointers encompassed pertaining to display technology segment are share of every subsegment, proliferating trends and monetary forecast over the estimated timeframe.

In terms of geographical study, digital signage market is subdivided based on leading regions. Leading regional revenue pockets comprise U.S., Canada, Mexico, Europe, Asia Pacific, South America and MEA. Countries are further classified basis market contribution, consumer base and other aspects.

The study showcases that digital signage market is likely to observe unprecedent growth across United States. The U.S. digital signage is slated to contribute to remarkable growth primarily due to availability of a robust customer base.

Digital Signage study document also includes collection of crucial parameters that will assist the stakeholders in undertaking required decision-making for expanding the business potential. The report also covers pivotal information regarding several industry boosting factors, SWOT analysis, executive summary and favorable government initiatives adding impetus to the digital signage market share.

Innovations in advertising and promotional activities coupled with advancements in display technologies are offering lucrative growth opportunities to digital signage market. Digital signages assist retailers in cutting through the marketing noise generated by other business by attracting and directing the attention of potential buyers towards the product or service.

Over the years, India has experienced increasing number of industrial establishments owing to the rise in disposable income among the citizens. According to reports, the per capita GDP is expected to surpass USD 3273.85 by 2023. Additionally, the rising FDIs will further steer the consumer market thereby creating the need for robust advertising techniques.

In terms of display technology, LED based digital signages have gained wide popularity in the industry. the rising levels of carbon emissions has steered the demand for energy efficient modes of lighting such as LEDs. Additionally, Light Emitting Diodes are long-lasting and carry excellent color rendering mechanisms making them a viable display technique.

Since they are environment friendly, several government initiatives are aiming at promoting the use of LEDs with a view to achieve sustainable use of electricity. For instance, The Africa LEDs Partnership (AfLP) aims at advancing low emission development techniques across the continent. The program aims at cultivating and supporting LED priorities with a view to encourage sustainable development. 

As per data, widespread use of LEDs could save upto 348 TWh of electricity in the U.S. by 2027. Thus, favorable government policies supporting the adoption of LEDs will propel demand for LED display technologies thereby positively influencing the global digital signage industry outlook.

Front projection has been gaining wide traction in the global digital signage industry owing to its cost efficiency. Cost per inch is an important advantage of front projection displays where the advertiser gets screen space for comparatively less space. Moreover, areas that cannot support the sheer weight of certain digital screens, front projectors become a suitable option.

Easy installation techniques coupled with the ability to be installed on various types of surfaces such as stone, ice or metal makes front projection display technique an integral segment contributing toward the global digital signage market share.

By 2023, retail digital signage market share is slated to surpass USD 10 billion

In terms of application spectrum of digital signage industry, the retail sector has turned to be a major consumer of this technology. The burgeoning retail industry globally due to the rise in purchasing power is indicating a need for robust advertising technique to spread brand awareness among the people.

For instance, in July 2019, the retail sales increased by over 0.5% when compared to the previous three months in UK. Similarly, in developing countries such as India, the total consumption expenditure is projected to be valued at USD 3600 billion by 2020 and the retail industry is expected to surpass USD 1200 billion by 2021.

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With retail industry pace accelerating rapidly, there is a definite need for a strong advertising platform. Retail digital signages allow efficient and effective reach and interaction between businesses and their customers. Enhanced brand awareness, improved operational efficiency, promoting new products and improved customer experiences are some of the pivotal contribution of digital signages in the retail industry worldwide.

Regionally, U.S. is expected to evolve as one of the most significant regional grounds for digital signage market. Established BFSI and transportation sector is driving the demand for advanced advertising and promotional techniques thereby amplifying the digital signage market size.

According to reliable statistics, the net income generated by U.S. banking system in 2018 was valued at USD 236.8 billion. Reportedly, in the year 2018, over 28 financial services companies listed in Forbes’ global 500 have relocated their headquarters in the U.S. owing to their creative, comprehensive and competitive financial service sector. Evidently, the advanced U.S. BFSI industry requires a strong medium to spread awareness among the people regarding their offered services, hence boosting the global digital signage industry outlook.

Along with a strong BFSI sector, United States also comprises of a well-built transportation industry. As per data, in 2018, the cost of business logistics in the U.S. was valued at USD 1.6 trillion, contributing to 8% of the total GDP. Digital signage has become an integral part of the transportation industry in the U.S. They are widely used at the airports, bus stations, road highways and rail stations to direct the passengers or inform about the travel scheduling or re scheduling.

The digital signs speak for themselves thereby ensuring simplified details especially for international travelers. Evidently, advancements in transportation and increasing number of people travelling for work, leisure, medical needs etc., will accelerate digital signage market forecast.

Table of Contents (ToC) of the report:

Chapter 5    Digital Signage Application Insights

5.1    Digital signage market share by application, 2015 & 2023

5.2    Retail

5.2.1    Market estimates and forecasts, 2012 - 2023

5.2.2    Market estimates and forecasts by region, 2012 - 2023

5.3    Corporate

5.3.1    Market estimates and forecasts, 2012 - 2023

5.3.2    Market estimates and forecasts by region, 2012 - 2023

5.4    Banking

5.4.1    Market estimates and forecasts, 2012 - 2023

5.4.2    Market estimates and forecasts by region, 2012 - 2023

5.5    Healthcare

5.5.1    Market estimates and forecasts, 2012 - 2023

5.5.2    Market estimates and forecasts by region, 2012 - 2023

5.6    Education

5.6.1    Market estimates and forecasts, 2012 - 2023

5.6.2    Market estimates and forecasts by region, 2012 - 2023

5.7    Transportation

5.7.1    Market estimates and forecasts, 2012 - 2023

5.7.2    Market estimates and forecasts by region, 2012 - 2023

5.8    Others

5.8.1    Market estimates and forecasts, 2012 - 2023

5.8.2    Market estimates and forecasts by region, 2012 - 2023

Browse Complete Table of Contents (ToC) @ http://decresearch.com/toc/detail/digital-signage-market-report

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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