The global digital signage market has been envisaged to entertain a neck-and-neck competition among top companies operating in the industry, as per a report published by Transparency Market Research (TMR). In the foreseeable future, the competition in the market could be escalated further due to a growing count of companies putting their best foot forward with cost-efficient products. HP, Panasonic, and Cisco could be few of the leading competitors in the market.
According to a TMR publication, the global digital signage market could achieve a valuation of US$34.67 bn by the end of 2022 at a CAGR of 10.0% during the forecast horizon 2017-2022. In 2017, the market had attained a valuation of US$21.50 bn. Among high-paying offerings, displays and media players could secure a colossal demand in the coming years. Regionally, North America could be crowned as a market leader for years to come.
The world digital signage market has been foreseen to witness a staggering swell in its valuation due to high attraction of advertisements created with the use of graphic interface on web and digital media. This growth could help vendors to see an exponential rise in their revenue in the near future. The facility of being able to easily update content from the internet onto digital signage, significantly decreasing the real wait and perceived time, has been projected to help vendors gain demand in the market. The public sector and commercial industry could offer a heightened response to the launch of digital signage software and hardware products, thus assisting the market to embrace an improved demand.
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Lucrative regions such as North America have been prophesied to increase their growth while leaning on the expanding pool of vendors dealing with industrial equipment and products. The retail industry could be counted as a leading end user of digital signage due to a greater installation of various products that save the printing cost of physical advertisements, draw a more number of customers, and improve customer engagement. While Asia Pacific Excluding Japan (APEJ) could cash in on technological advancements for market gains, Europe has been prognosticated to take advantage of rising government initiatives for installing digital signage in offices.