The global digital signage market is expected to witness the emergence of several new players in the market over the forthcoming years. The primary reason behind the projected entry of newbie vendors is the huge market gap for digital signage technologies that currently exists across several sectors. However, the sustenance of the new entrants would rely on their expertise and ability to stay relevant in a fast-paced market. Besides this, the efforts of the new entrants as well as the established regional players are expected to be strongly averted by the footholds of the leading players in the market. These leading market players have both, expertise and global reach, which is expected to keep enhancing their prospects of market growth.
Furthermore, the ability to make huge-scale investments in new technologies is also projected to play to the advantage of the top market players. The market players in the global market for digital signage technologies are anticipated to remain hooked to mergers, acquisitions, and strategic alliances over the coming years. Besides this, the strategic business moves of the leading market players are expected to intensify the competition in the global market. Some of the leading players in the global market for digital signage are Cisco Systems Inc., Advantec Co. Ltd., Panasonic Corp., NEC Corp., BroadSign International, Samsung Electronics Co. Ltd.,Sony Corp., LG Electronics, Sharp Corp., and Omnivex Corp.
The researchers at Transparency Market Research (TMR) construe some of the key factors responsible for the growth of the global market for digital signage. The global market is expected to expand at a robust CAGR of 10.0% over the period between 2017 and 2022. The market accumulated total revenues worth US$21.50 bn in 2017 and this figure is expected to elevate to US$34.67 bn by 2022-end.
The operational costs of the retail sector could be significantly reduced with the use of digital signage through the use of digital advertisements instead of printed ones. Media Players, media revenue, displays, and network software are some of the key services offered by digital signage.
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It is anticipated that the global market for digital signage would reap commendable revenues from the transportation industry where there is a pressing need to reduce extrinsic costs.Despite the unparalleled utility served by digital signage, the return on investment (ROI) from it still remains a matter of contention. It is argued by a number of experts that digital signage only serves extrinsic utility to the companies and does not provide any benefits on the front of profitability. Moreover, the high initial investment required to deploy digital signage technologies limits its usage to established and well-off companies and ventures only.