Portland, March 02, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global digital signage market garnered $17.23 billion in 2018, and is expected to grow $32.12 billion by 2026, growing at a CAGR of 8.1% from 2019 to 2026. The report provides a detailed analysis of drivers & opportunities, key segments, major investment pockets, competitive landscape, and key players.
Surge in demand for power-efficient display panels, rapid digitalization & lowered demand for conventional billboards, and increase in prominence for 4K and Ultra-HD devices propel the growth of the global digital signage market. However, implementation of alternatives such as widescreen hinders the growth. Contrarily, emerging display technologies including quantum dots & micro LED along with rise in preference for large-screen displays would offer a range of opportunities for the key market players.
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On the basis of offering, the hardware segment accounted for nearly three-fourths of the total market share in 2018, and is estimated to maintain its dominance during the forecast period. This segment is also expected to maintain the highest CAGR of 8.4% from 2019 to 2026. This is attributed to rise in demand in commercial sector, growth of retail sector, and rise in activities of infrastructural development in emerging countries.
In terms of technology, the indoor segment accounted for the largest market share in 2018, holding nearly three-fifths of the total market share. This is attributed to increase in popularity among small and medium enterprises around the globe. However, the outdoor segment is estimated register the highest CAGR of 9.7% from 2019 to 2026.
Based on region, North America garnered nearly two-fifths of the total market share in 2018, and is estimated to maintain its lead position by 2026. This is due to increase in hospitality, growth in the retail sector, and tourism activities in the region. However, Asia-Pacific is projected to witness the fastest CAGR of 11.0% during the forecast period. This is attributed to the high demand for digital signage along with technological innovations in the electronics sector.
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Leading market players analyzed in the research include Sony Corporation, Planer System Inc., NEC Corporation, Samsung Electronics, Panasonic Corporation, LG Electronics, Volanti Displays, iSEMC (HHSD), Koninklijke Philips N.V., and ViewSonic Corporation. They have adopted various strategies including expansions, collaborations, partnerships, agreements, mergers & acquisitions, and others to gain a strong position in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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