The global digital signage market was valued at $14.6 billion U.S. in 2014 and is expected to see a compound annual growth rate (CAGR) of 8.18 per cent, reaching nearly $23.8 billion by 2020, according to research firm MarketsandMarkets.
North America accounted for the most market share in 2014 at approximately 34 per cent, followed by Europe at 29 per cent. The Asia-Pacific (APAC) market, however, is projected to experience the highest regional CAGR between 2015 and 2020, at 9.34 per cent, thanks to (a) the local presence of major liquid crystal display (LCD) manufacturers like NEC, Samsung, LG and Sharp and (b) the widespread adoption in Asia of digital signage in sectors like banking and education.
There has also been growing acceptance on a global level of the integration of digital signage in government buildings and other public facilities, although the fastest-growing sector worldwide is still retail, driven by the need to update promotional content quickly. Digital signage software, in particular, is seeing increased demand for the purposes of content management, distribution and scheduling.
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