According to a new market research report "Digital Signage Market by Hardware, Software (Edge Server, Distribution & Scheduling, Content Management), Application (Commercial, Infrastructure, Institutions, Industrial), Products (Indoor & Outdoor) & by Geography - Forecast to 2014 - 2020", the total market is expected to reach $14,875.6 million by 2020 at an estimated CAGR of 8.94% from 2014 to 2020.
This research is conducted noting the paradigm shift in the demand for digital signage products and its applications for many of the sectors such as retail, education, government, corporate, sports, and transport in the regions of North America, Europe, APAC, and ROW.
Digital Signage market is diversified into a large number of segments. Even the largest market share of digital signage is in North America and Europe, but it has a large scope in the APAC region, of which China and India will be taking the lead in the near future. The emerging markets such as African and Arab countries will also seek the positive growth.
Digital signage is one of the most promising and upcoming media in the field of information and advertising network. It is also known as narrowcasting or electronic signage. Technological innovations such as touch screen technology, near field communication technologies, and such others have created opportunities for digital signage market. Its market is wholly and solely dependent on the end-results when it is viewed by individuals at different places and locations. Its visibility and user-friendly feature easily catches the interest of people in comparison with the printed media formats which require high investments and more time.
The market has become quite competitive with the presence of a large number of players. Hardware leaders, such as Samsung, have diversified their digital signage portfolio by acquisitions, while software giants like Cisco Systems Inc. (U.S.) have acquired hardware players which have consolidated their product offerings. The intense competition is likely to trigger a competitive pricing war across both hardware and software offerings.