Digital
screens equipped with 4K technology have high demand as they offer enhanced
displays. Thus, the demand for advertising content with better sharpness and
enhanced quality is fueling product adoption. Moreover, the incorporation of
LED-backlit panels has led to additional energy savings at a considerable
level. Thus, the reduction in energy consumption due to the adoption of
advanced technologies is luring enterprises to opt for digital signage.
The
software providers are focusing on the new entrants of the industry by
providing design solutions that are compatible with the Android operating
systems. The emergence of IoT, coupled with the increasing adoption
of cloud computing, is expected to enable the collection of vital
operational and marketing data. Digital signage helps companies decrease their
long-term operational costs by reducing the use of paper for advertising and
frequent damages and changes that are associated with traditional marketing
activities.
Asia
Pacific is estimated to be the fastest-growing regional market during the
forecast period owing to the factors, such as demand for a better viewing
experience, the growing transportation sector, and decreasing prices of display
panels. However, North America is estimated to account for the largest revenue
share by 2028 on account of the high product demand across various application
sectors due to technological advancements and the modern customer base in the
region.
Related Press
Release @ Digital
Signage Market Report
Digital Signage Market Report Highlights
- LED digital
signage dominated the global market in 2020 and accounted for the largest
revenue share owing to the high-quality displays offered by LEDs
- The retail
segment led the global market with a revenue share of over 20% in 2020.
However, the transportation segment is estimated to register the fastest
CAGR over the forecast period
- The
healthcare sector has significant growth potential as hospitals have been
increasingly incorporating digital signage for numerous purposes, such as
sharing important registration information and conveying wellness tips
- The
transparent LED screen type segment is anticipated to register the fastest
CAGR from 2021 to 2028 owing to the energy-efficient performance of these products
and emerging touchscreen displays with multi-touch technology
- The hardware
component segment, which includes 8K and 4K-UHD displays, is projected to
dominate the global market, in terms of revenue share as well as growth
rate over the forecast period
- The
out-store segment is anticipated to witness the fastest CAGR from 2021 to
2028 owing to the rising product demand for out-store applications
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