Digital Signage Market to Expand with Significant CAGR During 2022

The global digital signage market has been envisaged to entertain a neck-and-neck competition among top companies operating in the industry, as per a report published by Transparency Market Research (TMR). In the foreseeable future, the competition in the market could be escalated further due to a growing count of companies putting their best foot forward with cost-efficient products. HP, Panasonic, and Cisco could be few of the leading competitors in the market.

According to a TMR publication, the global digital signage market could achieve a valuation of US$34.67 bn by the end of 2022 at a CAGR of 10.0% during the forecast horizon 2017-2022. In 2017, the market had attained a valuation of US$21.50 bn. Among high-paying offerings, displays and media players could secure a colossal demand in the coming years. Regionally, North America could be crowned as a market leader for years to come.

Lucrative regions such as North America have been prophesied to increase their growth while leaning on the expanding pool of vendors dealing with industrial equipment and products. The retail industry could be counted as a leading end user of digital signage due to a greater installation of various products that save the printing cost of physical advertisements, draw a more number of customers, and improve customer engagement. While Asia Pacific Excluding Japan (APEJ) could cash in on technological advancements for market gains, Europe has been prognosticated to take advantage of rising government initiatives for installing digital signage in offices.

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However, some of the most rewarding prospects have been anticipated to yet show face in the international digital signage market. These could ride on the back of the desperate efforts of end users to reach a broader audience base, substantially elevating the demand for digitally-enabled products boasting of high-grade content quality. The market growth could be positively reflected over by the decreased printing cost and enhanced consumer experience that come with digital signage offerings. Apart from retail, the surging demand for digitalized displays in the banking, financial services, and insurance (BFSI) sector could provide the stimulus for a hefty growth in the market.

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousand