Digital signage: Key market research findings
- Increased adoption of digital signage in educational institutions
- Growing use of touch displays
Technavio has released a new market research report on the global digital signage market, which is expected to grow at a CAGR of around 6% between 2016 and 2020. Digital signage offers several benefits over traditional advertisement boards such as no paper waste, audience engagement, overcoming spatial limitations, dynamic content control and cost-effectiveness, targeted content, and interactive digital signage. The Americas is the biggest region for the global digital signage market, accounting for 55% of the total market share. Enterprises in this region are constantly integrating digital signage in promotional and advertising campaigns, thereby boosting market growth in the region.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“The increasing adoption of digital signage in educational institutions is a trending factor driving the growth of the market. Educational institutions are increasingly adopting digital signage to change and enhance the ways they communicate with students, staff, and visitors. This new medium is helping schools and colleges reach their audience with more engaging messages in real time. As a result, more and more educational institutions are expected to adopt the use of digital signage in the coming years, thus leading to the overall market growth,” says Sunil Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research.
Vendors are implementing interactive touch displays to enhance the user experience. Interactive digital signage displays improves users’ engagement with content, leaving a deeper impact on their minds. They allow end-users to interact with content via touch screens, body sensors, and quick-response codes through smartphones. Interactive display helps users in collecting and analyzing customer data. This data, which is collected and analyzed from customer interaction may be used to offer special discounts, coupons, and other incentives.
The leading players in the global digital signage market include ADFLOW, Cisco, HP, Panasonic, and Samsung. This market is dominated by the leading vendors, however, many local vendors are foraying into the market with low-cost displays, posing fierce competition to the existing providers. As a result, conventional TV panels that are lesser in price are replacing specialized custom products that differentiate the professional displays market. Therefore, established vendors are ushering in unique innovations to withstand the competition in the market.
A more detailed analysis is available in the Technavio report, Global Digital Signage Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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