Global POS Terminal Market was valued at $15.8 Billion in 2015 and is estimated to grow at a CAGR of over 8% from 2016 to 2024.
Escalating demand for emerging technologies including OLED, LED, LCD and UHD displays is likely to accelerate the digital signage market growth significantly over the forecast period. Developments in technology offerings paired with infrastructure expansion is expected to catapult the digital signage demand. Further, the integration of big data analytics, smart content and real-time data management tools with dynamic interfaces and multiple presentations is also anticipated to propel product demand over the coming years.
The industry is noticing mounting demand for digital signage in commercial and public sectors coupled with its cost effectiveness and secure return on investment. Additionally, elevating usage of high-brightness displays in out-of-home advertising applications and evolving 4k displays and ultra-narrow bezels may further drive market growth.
Global Digital Signage Market, By Application, 2014 – 2024 (USD Billion)
Rise in adoption across expanding application areas including retail, healthcare, banking, corporate and transportation is also anticipated to fuel the digital signage demand considerably over the next few years. Government initiatives and expenditures to improve public communication infrastructure are among other major factor driving growth in this market.
Snowballing business investments in interactive displays paired with NFC capabilities are also estimated to drive product demand. Furthermore, the industry is also witnessing the development of advanced software solutions that offer features including real time data integration and content distribution. The advent of flip chip technologies that significantly reduces superior heat dissipation and LED failure possibilities is also expected to favorably impact market growth over the coming years.
North America is estimated to lead the global digital signage market in terms of revenue over the forecast period with the U.S. contributing to the maximum revenue generation in the region. Surge in investments paired with elevating demand primarily across BFSI and retail segment is anticipated to drive the regional market growth. Asia Pacific on the other hand is estimated to emerge as the fastest growing region on account of increasing adoption across emerging economies including India and China.
“Optimal Price Point (OPP) for Digital Signage Products”
Estimated Average solution cost – $ xx globally. However, with growing solution implementation and expanding application areas, OPP and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.
“Integration of Kiosks to fuel the digital signage market growth”
Kiosks play a vital role in the global digital signage market for offering access to entertainment, information and communication, education, commerce, and other applications. Kiosks refer to an effective and quick solution which can be used virtually in remote as well as common locations. Integration of Kiosks with digital signage provides positive outlook for market growth over the coming years.
“Industry participants strive to develop innovative and cost effective solutions in order to prevail in this highly competitive environment”
Notable industry participants including Sony Corporation, Sharp Corporation, NEC Display Solutions Ltd., Samsung Electronics Co Ltd., Panasonic Corporation, and LG Display Co Ltd. actively invest in R&D to develop state-of-the-art solutions to outperform their competition. However, the industry is also witnessing emergence of players such as AU Optronics Corporation, Planar Systems Inc., ADFLOW Networks Inc., and Omnivex Corporation who with their low-cost innovative products offer high competition to the industry heavyweights.
Mounting adoption of Digital-Out-Of-Home (DOOH) application worldwide is expected to boost the digital signage demand significantly over the next eight years. Rise in penetration of UHD in applications including transportation, retail, healthcare and corporate is another major factor accelerating growth in this market. Features such as low flicker rates, excellent contrast, energy efficient, and immune to image burn-in is also expected to increase the digital signage adoption over the forecast period.