Digital signage market to top $20 billion by 2020

by all | 4 March 2015 8:55 am

[1]The global digital signage market is expected to reach $20.03 billion (in U.S. dollars) by 2020, according to a new study by Grand View Research, with future growth due especially to demand in the retail and health-care sectors.

The creation and distribution of digital signage content has proven an effective marketing tool, which has helped spur adoption in corporate sectors. Grand View Research reports retail accounted for more than 40 per cent of the market in 2013 and will remain the largest application segment over the next five years, but the health-care segment also shows significant potential, as hospitals turn to digital signage to guide visitors, share registration information and display health and wellness tips.

In terms of screen hardware, liquid crystal displays (LCDs) continue to dominate, thanks to price reductions and energy savings from light-emitting diode (LED) backlighting. Larger screens are expected to become more prevalent over the forecast period, typically measuring at least 1.27 m (50 in.) or bigger, which in turn is increasing demand for ultra-high-definition (UHD) ‘4K’ image sharpness.

While larger screens and higher-resolution content can become expensive, software providers have also targeted the entry-level digital signage market by designing their products to be compatible with Google’s Android operating system (OS). The emergence of the ‘Internet of things’ (IoT) and an increase in cloud computing are also guiding trends in digital signage software development.

North America currently accounts for the largest share of the global digital signage market. In the future, however, the Asia-Pacific (APAC) region is expected to lead market growth.

Source URL: https://www.signmedia.ca/digital-signage-market-to-top-20-billion-by-2020/

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