Healthcare applications in Digital Signage Market size are predicted to exhibit considerable growth prospects due to escalating adoption of the technology for numerous purposes such as display notices, delivering tips for improving patients’ health and sharing essential registration information. Retail dominated the digital signage market size with the revenue share of over 40% in 2015 owing to the rising adoption of the technology in the retail stores to boost customer experience. Furthermore, it aids in brand awareness, saves printing cost, and diminishes the operational costs.
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Digital Signage market share is estimated to surpass USD 23 billion by 2023 driven by factors like cost effectiveness, growth of commercial displays, higher ROI (Return on investment) as compared to other communicating channels, and favorable regulatory scenario in the healthcare sector, etc. A paradigm shift has taken place in the pattern of content communication wherein traditional techniques (newspapers, radio, online banners, social media, etc.) which were used for marketing an organization’s products & services are now being thoroughly replaced by digital signage which is considered to be more effective and economic.
LCD technology accounted for majority of revenue share in digital signage market owing to declining prices and numerous advantages offered by this technology over alternative including plasma display is predicted to fuel the adoption. Furthermore, OLED segment are expected to witness significant CAGR growth over the period as it supports firm to use money effectively without compromising user appealing experience.
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North America in digital signage market accounted for majority of shares owing presence of major players and their increasing number of investments. In addition, rising demand from application including BFSI and retail have contributed to increased growth.
Digital Signage market size accounted for USD 15 billion in 2015 and is witnessing a significant growth worldwide. The Asia Pacific market is anticipated to register a CAGR of 6.5% from 2016-2023, owing to factors like infrastructural development, growth in educational and government sectors, and enhanced user experience. Also, increasing demand across various application industries is likely to favor the US market growth over the coming years.
Key industry players profiled in the digital signage market report include Panasonic Corporation, Samsung Electronics, LG Electronics, NEC Display Solutions Limited, Scala Incorporation, Adflow Networks, Cisco Systems Incorporation, KeyWest Technology Incorporation, Microsoft Corporation, BrightSign LLC, Intel Corporation, Omnivex Corporation, Polk Audio and Winmate Communication Incorporation.
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