Digital Signage Market

Market Leadership - Digital Signage Market

The digital signage market is expected to grow from USD 20.8 billion in 2019 to USD 29.6 billion by 2024, at a CAGR of 7.3%. Increasing adoption of digital signage products in commercial vertical, growing technological advancements in display products, rising demand for 4K & 8K displays, and increasing infrastructural developments in emerging countries are the major driving factors for the market’s growth during the forecast period.

The use of digital signage in commercial applications allows businesses to efficiently and effectively reach and interact with customers. Attracting new business opportunities, increasing brand awareness, improving operating efficiency, catching the attention of passersby, promoting new products, and enhancing customer experience are the factors that propel the growth of the digital signage market.

Digital signage makers focus on product launches, agreements, contracts, collaborations, partnerships, and mergers & acquisitions to enter into new market segments. Display manufacturers are expanding by offering technologically advanced signage offerings to increase their market presence in the digital signage market.
Key players in the market include Samsung Electronics (South Korea), NEC Corp. (Japan), LG Electronics (South Korea), Sharp (Foxconn) (Japan), Leyard Optoelectronic (Planar) (China), Sony (Japan), AU Optronics (Taiwan), BARCO (Belgium), Panasonic (Japan), Goodview Electronics (China), Scala (US), E Ink Holdings (Taiwan), Omnivex Corporation (Canada), Deepsky Corporation (Hong Kong), Delta Electronics (Taiwan), Exceptional 3D (US), Daktronics (US), Christie Digital Systems (US), Intuiface (France), and BenQ (Taiwan).

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Samsung Electronics, one of the global leaders, have a wide product portfolio in the digital signage market. The company’s operating segments are product-based and include Consumer Electronics, IT & Mobile Communications, Device Solutions Semiconductor, Device Solutions Display, and Harman. The consumer electronics division includes products such as TVs, monitors, printers, air-conditioners, refrigerators, washing machines, and medical equipment. The Display Panels division designs and manufactures display panels based on LCD, QD, and OLED technologies for several products such as smartphone, TV, digital signage, and smart wearables. The Harman division offers connected car systems, audio and visual products, enterprise automation solutions, and connected services.

The company provides digital signage solutions through Samsung Display Solutions. The company designs and manufactures various digital signage hardware and software solutions such as video walls, standalone, outdoor and window-facing signage, interactive digital displays, media players, and accessories. The company adopts several growth strategies for maintaining its leading position in the market. For instance, in June 2018, Samsung Electronics introduced “The Wall Professional” at the InfoComm 2018. It is a large format indoor MicroLED display that can extend to hundreds of inches in size and deliver brilliant presentation quality.

LG Electronics offers a wide variety of digital signage hardware such as video walls, ultra-stretch displays, outdoor displays, interactive signage, and standalone signage displays. LG’s signage products are based on In-Place Switching (IPS), a technology that offers high reliability. Further, the advanced design and slim structure ensure 4-side even bezel that makes it suitable for information boards or advertisement boards to be installed in places such as restaurants and airports.

LG Electronics, along with its subsidiary LG Display, offers smart signage, smart mirror, and smart home display products. The company offers mirror signage MS75A-7BB with inbuilt mirror functionality and media player for retail, hotel, salon, and other applications. For instance, in December 2018, LG Electronics introduced a curved OLED signage. The signage was made using 63 custom-made curved OLED panels and was conceptualized and executed by HS Ad India in collaboration with LG Electronics, LG CNS, and Ambience Group Associates.

Related Reports:

Digital Signage Market by Offering (Hardware (Displays, Media Players, Projectors), Software, Services), Product, Application, Vertical (Retail, Transportation & Public Places, Sports & Entertainment, Education), and Geography - Global Forecast to 2024

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Report Code
SE 2270
RI Published ON
3/7/2019
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