According to a new market report published by Credence Research Inc., “Digital Signage Market (By Type (Digital Signage Displays, Digital Signage Media Player and Projector, Digital Signage Software, and Others), By End-use Application (Retail, Banking, Education, Healthcare, Transportation, Corporate, and Others)) Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2022”, the digital signage market is expected to witness a double digit CAGR during the forecast period 2016 to 2022.
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Digital signages are electronic displays which use technologies including LED, LCD, and OLED among others to display digital images, videos, streaming media, and information. These solutions have become increasingly sophisticated with the advancements in software competencies, integration capabilities, and emergence of smart content distribution channels. Digital signage solutions trace their roots to the previous decade when only pre-recorded information was displayed on display boards to engage customers. Since then, these solutions have come long way, majorly contributed by the emergence of the broadband Internet, rich media assets, digital display technologies, and network-based distribution solutions. Digital signage solutions are steadily gaining widespread acceptance across private as well as public environments on account of their ability to offer dynamic content and real-world interface.
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The global digital signage market is highly technology driven and competitive. The leading four players in the global digital signage market collectively account for less than 45 percent of the global market revenue. Some of the leading players identified in the global digital signage market include LG Display Co., Ltd., AU Optronics Corporation, Panasonic Corporation, Samsung Electronics Co., Ltd. , Sharp Corporation, Sony Corporation, Omnivex Corporation, NEC Display Solutions, Ltd., Adflow Network, Inc. and Planar Systems, Inc. among others. The global digital signage market also includes large number of niche players accounting for trivial market share individually. The global digital signage market being technology driven, the competitive rivalry among market players is expected to remain high throughout the forecast period 2016 – 2022.
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- Introduction of hybrid digital signage solutions has opened-up new commercial opportunities
- Advancements in NFC-enabled digital signage solutions to revolutionize market prospects
- Highest penetration in the retail sector
- Growing adoption for building brand identity and in-store promotion
- Interoperability Issues
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