Knowledge Sourcing Intelligence announces the publication of a new report on “Digital Signage Market - Forecasts from 2019 to 2024" to their offering.
Digital signage is denoted as a sub-segment of signage by utilizing technologies like LCDs for displaying digital images and videos. It is further utilized for streaming media or gathering knowledge and information in a public space, transportation systems, exhibitions, museums and many more.
According to the report, the Digital Signage Market is projected to increase at a CAGR of 6.50% over the forecast period 2018-2024.
The augmenting retail sales is fueling the market growth in the forecast period
The increasing requirement of digital signages across all the industry verticals is driving the growth of global retail sales in the forecast period. At present, the offline sales channel is dominating over the online sales channel, with the internet penetration worldwide, the online mode is also gaining traction growing at a high CAGR in the forecast period. The construction of shopping malls, brick and mortar stores are growing at a sustainable pace and are quite successful in holding on to the interests of a range of people at the global level; hence, the in-store sales will never fade even if the online shopping is growing at a fast pace. According to the National Retail Federation, Washington DC, there are more than one million retail establishments throughout the United States and the retail sales have grown to almost 4% every year from 2010. The retail is further contributing USD2.6 trillion to the country’s GDP annually.
On the basis of Geography, North America is projected to hold a significant share in the forecast period
The early adoptions of technology and innovation are driving the market growth in the North American region which is predicted to hold a large market share in the global digital signage market. Also, the presence of various end-use industries requiring digital signage is further propagating the market demand in North America over the next five years. On the other hand, the APAC region is estimated to be the fastest-growing market owing to the growing tourism industry in the region and growing application in several retail stores, hospitals, and corporate offices. The growing urbanization has led to the development of various shopping malls in order to satiate the needs of the evolving urban population, further propelling the market demand.
The major players covered as part of the report are Samsung, Panasonic Corporation, SHARP Corporation, and Sony Electronics Inc. among others.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/global-digital-signage-market
This report has segmented the digital signage marketon the basis following terms
By Industry Vertical