According to a new market research report "Digital Signage Market by Type (Hardware (Displays, Media players, Projectors), Software, Services (Installation & Maintenance)), by Application (Commercial, Infrastructural, Institutional, Industrial) & Geography - Global forecast to 2020," published by MarketsandMarkets, the total digital signage market is expected to reach $23.76 billion by 2020, at a CAGR of 8.18 percent between 2015 and 2020.
The announcement of the forecast from MarketsandMarkets said the global digital signage market is expected to grow from $14.63 billion in 2014 to $23.76 billion in 2020, growing rapidly owing to the increasing demand for commercial displays, increasing investments by companies for the development of digital signage solutions, acceptance from government, prevention of paper wastage and energy savings.
The global digital signage market report describes the market trends, drivers, and challenges with respect to the digital signage market and forecasts the market to 2020, based on types, application and geography, the company said, giving a bird's eye-view of the market across the geographies including North America, Europe, Asia-Pacific and RoW (Rest of the World). North America is the largest geography in terms of the global digital signage market size and this trend is expected to continue till 2020, with the U.S. occupying the major market share. North America comprises the U.S., Canada and others. APAC and Europe are also considered as promising markets, with Germany and the U.K. in Europe, and Japan and South Korea in APAC, expected to have the highest rate of growth.
The competitive landscape of the market provides valuable information about the players in the digital signage market. The global digital signage market report profiles 10 promising players in the market and further explains their business overview, product portfolio, recent developments and key strategies adopted. The market is witnessing new product developments, partnerships, agreements and expansions across the value chain and between the companies.