Dallas,Texas, Sept. 24, 2019 (GLOBE NEWSWIRE) -- Digital signage happens to be a sub-segment of signage. Technologies like LCD, LED and Projection is used in digital signage to display digital content such as images, video, streaming media, and information. Digital billboards are used at public spaces, transportation systems, museums, stadiums, retail stores, hotels, restaurants, and corporate buildings, etc, for wayfinding, exhibitions, marketing, and outdoor advertising
The digital signage market is expected to grow at a CAGR of 8% over the forecast period (2019 - 2024). The scope of the report includes insights into the solutions offered by major players, including providers of hardware, professional services, and integration solutions. The study comprises insights into various end-user-based applications such as commercial, industrial, institutional, etc. It also emphasizes on signage products such as kiosks, bill boards, sign boards, etc.
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The growth in transport networks, public infrastructure, and new commercial buildings, particularly in developing economies is creating more opportunities in this market. Digital signage is being used in and on all modes of public transportation to attract the attention of on-the-go viewers, providing real-time location and context awareness related to traveler information and advertising. Moreover, it is fast becoming a standard in many educational facilities, with schools and corporate campuses facilitating digital signage systems.
Digital signage systems benefit in eliminating the frequent compatibility and interoperability issues between media players and displays. Furthermore, digital signage boards are being extensively used as arrival and departure boards in airports known as Flight Information Display Systems (FIDS).
Along with all these factors, enhancement of brand awareness and perception among the global leaders is expected to drive the growth of the market. However, digital signage boards require a high amount of electricity, indirectly affecting the maintenance costs. This could hinder the growth of the market.
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The digital signage market is a relatively fragmented market with major global players like NEC Display Solutions Ltd., Samsung Electronics Co. Ltd, Panasonic Corporation, Sony Corporation covering the hardware end of the spectrum while there happen to be a number of medium and smaller players who provide software for digital signage. To add to this a number of players are entering the market offering unique product applications as niche players in the industry. Some of the recent developments that have been observed in this market are
- December 2018 - LG Electronics India, introduced a curved OLED signage. The company used 63 custom-made curved OLED panels to make the signage.
- December 2018 - A strategic partnership was announced between Leynard and Planar & Lighthouse Technologies (Hong Kong) to develop LED video display solutions for the sports and entertainment industry, an example of unique product application.
- January 2018 - NEC Display Solutions of America, Inc., announced the release of two new projector models, the 30,000 Center (26,000 ANSI) lumen PH2601QL and the 40,000 Center (35,000 ANSI) lumen PH3501QL.
Key Market Trends
LED/LCD Display is Expected to Experience Healthy Growth over the Forecast Period
- The reduction in the prices of LED/LCD systems is the major factor that has helped it penetrate into the high growth regions across the world. Apart from that, in the commercial space, LED-based signage boards offer durability and ruggedness in addition to greater visibility, compared to that of traditional lighting arrangements. Rapidly dropping prices for LCD screens have led to an increasing number of installations of digital signs
- Depending on the size of the installation, different displays are preferred. The small- and medium-sized networks mostly prefer LCD/LED. Users who are looking for large displays choose large screens due to the better video clarity they offer. LCDs fare better, in terms of power consumption and ongoing maintenance costs, especially with respect to large displays.
- Additionally, there are numerous advancements within the digital signage technology industry that sign manufacturers are paying attention to. These include higher resolution LCD screens and LED message centers, which have iPad control and programming, emergency alert systems tied directly to IPAWS (Integrated Public Alert and Warning System) managed by FEMA, and live RSS feeds for news and weather
- Another significant trend is the push toward direct-view LED displays to create a more immersive and awe-inspiring experience. Direct view LED panels are highly customizable and can create experiences that encircle the audience or create architecturally captivating focus points
- For instance, Watchfire Signs continues to see the tighter pixel pitch on LED signs both indoor and outdoor. The adoption has been faster in case of indoor, because of the need for closer viewing distance. A good indicator of the trend is that Watchfire is witnessing more traditional LCD video walls being replaced by LED signs with tighter pixels. Facilities are also starting to understand that LED signs deliver a high-quality image resolution and can be purchased and operated for much less than TV screens.
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North America is Expected to be the Largest Market for Digital Signage
- North America is estimated to dominate the global signage market over the forecast period, owing to the presence of major vendors in the US region and also due to early adoption and advancement in the technology. Furthermore, the advancements in display technology are also likely to drive the market.
- Consumer magazines mainly dominate the digital advertising spending in the United States, however, the trend for out of door marketing is also growing in the country, and the spending for the segment is expected to reach USD 4.5 billion in 2019.
- Retail was the dominating end-user industry in the country, which had the highest investment on digital advertising in 2018, followed by automotive, financial, and telecom sector.
- The software providers are also engaged in providing a standard to customized solutions, that are compatible with multiple operating systems, to new entrants in the industry. There is an increased focus on cloud-based design solutions owing to the increasing demand for a customized solution.
- For instance, in September 2018, CTL, an Oregon-based company specializing in personalized learning EdTech solutions, in collaboration with NoviSign, digital signage software provider, launched a special Chromebox CBx1 tailored for the brand's digital signage. It offers controlling screen content with dual-band Wi-Fi, USB-C output, and custom libraries, among other features.
Major points from Table of Contents:
2 Research Methodology
3 Executive Summary
4 Market Dynamics
5 Market Segmentation
6 Competitive Landscape
7 Investment Analysis
8 Market Opportunities and Future Trends
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