Advertising display: Key market research findings
- Development of measurement tools
- Increasing acceptance of audio-visual advertising
Technavio has released a new market research report on the global advertising display market, which is expected to grow at a CAGR of 6% between 2016 and 2020. Digital signage is gaining wide acceptance in the market as it allows users to update the content frequently, and employs real-world interfaces such as embedded touch screens, gesture recognition, and image capturing. APAC is the largest market for digital signage advertising, occupying 54% of the overall market share. Advertising through street furniture and city lights are extensively used in this region, as it is reaches a large audience.
“Vendors in the market are focusing on improving the measurement tools, which is expected to boost growth in the advertising display market. With improved display hardware and technology, billboards and other mediums will be equipped with motion tracking cameras and other sensors. These will track a viewer’s focus point on the advertising display and measure the reach of the campaign. Technological improvements in digital technology and algorithms will prove to be a great enhancer for outdoor advertising in the coming years,” says Soumya Mutsuddi, Lead Analyst, Media & Entertainment, Technavio Research
Some of the latest technologies implemented in the advertising display market include augmented reality (AR), augmented outdoor, autostereoscopic 3D screens, Bluetooth, directional audio, gesture-based interaction, interactive voice response, multi-touch display, near-field communication (NFC), organic light-emitting diode (OLED), Oohgle, paper memory code, quick response codes, radio frequency identification, sociable media, streaming OOH, visual search and whispering windows.
As digital signage systems are becoming cost-effective, companies do not have to spend heavily for innovative digital outdoor advertising. Digital billboards are gaining prominence because they are attracting lots of audience attention. Vendors in the market are increasingly coming up with audio-visual advertising initiatives, to ensure that the potential customers can watch advertisements outside their residences.
The leading vendors in the global advertising display market are LG Display, NEC Display Solutions, Samsung Electronics, and Sony. This market is surging due to a combination of global economic momentum, international mega events, and increased healthcare, political, and transit advertising spending. The market is likely to witness the highest growth in countries with high infrastructural development such as Turkey, China, and Brazil.
A more detailed analysis is available in the Technavio report, Global Advertising Display Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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