Digital Signage Market Analysis, Size, Growth, Share & Forecast to 2025 | Grand View Research Inc.
“Digital Signage Market Size Worth $31.71 Billion by 2025 | CAGR: 8.0%�
The global digital signage market size is predicted to attain USD 31.71 billion by 2025, as per a new study by Grand View Research, Inc. The market is expected to witness a CAGR of 8.0% over the forecast period, owing to increasing demand from end-use industries, which prominently include retail and healthcare, is anticipated to propel the growth. In terms of shipments, the market was estimated at 3,500 thousand units in 2018 and is expected to reach 6,451 thousand units by 2025. The creation and distribution of content with digital signage are the effective promotional strategies for the enterprises, as they are able to reach out to a larger audience base. This is anticipated to spur the adoption of digitized marketing via signage across the corporate and hospitality sectors. Greater screen sizes, such as above 52-inch displays, are likely to gain popularity over the forecast period. Digital displays with 4K technology address the growing demand for sharp images. Software providers have been targeting new entrants by designing solutions compatible with Android OS. The emergence of IoT, coupled with 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. Furthermore, the incorporation of LED-backlit panels has resulted in considerable energy savings.
Furthermore, the software providers are focusing on the new entrants of the digital signage industry by providing design solutions that are compatible with the Android operating systems. The use of digital signage helps in optimizing and reducing the company’s long-term operational spending. This drop in the operational expenditure is due to avoiding the use of paper for advertisement purposes and frequent damages and changes associated with the traditional marketing activities.
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