According to Market Research Future (MRFR), the global digital signage market is estimated to grow at USD 26.3 billion with a CAGR of 6% from 2016 to 2022. The study identifies and explores the effects of the outbreak of COVID-19 on the global digital signage market, including possible opportunities and challenges, drivers and risks.
Digital signage can be referred to as electronic signage. Signage is a design or a set of signs and symbols used for marketing. Digital signs use technologies like LCD, LED and projection to display content such as digital images, video, streaming media, and information. Digital signage can be found in public spaces, transport systems, museums, stadiums, retail stores, hotels, restaurants, and others to provide way-finding, exhibitions, marketing and outdoor advertisement
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Market Dynamics
The report shows that digital signage provides benefits like no paper waste, engagement with audiences, overcoming spatial limitations, dynamic content control and cost-effectiveness, targeted content, interactive digital signage, and others. These numerous benefits are boosting the market. The study shows that the increasing demand for digital signage in the public and commercial sectors, together with its cost-effectiveness and guaranteed return on investment, is driving the growth of the digital signage market. The study shows that there is an increase in demand for in-store digital signage infrastructure for brand value and growing digital technology. Nevertheless, lack of technical expertise and high initial costs and lack of standardization are key factors that hinder the growth of the digital signage market.
