Energy Savings from Led Backlit Panel Integration to Drive the Global Digital Signage Market Size to over $23bn by 2023

Digital signage market size is forecast to be worth USD 23.02 billion by 2023; as per a new research report by Global Market Insights, Inc.

Lower paper wastage coupled with LED backlit panel integration has led to significant energy savings, driving digital signage market growth. The emergence of Internet of Things (IoT) has the potential to transform the technology from mere content displayers to a hub capable of collecting operational data via cloud computing.

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Dynamic digital signs engage the audience with real-time audiovisual multimedia content, thereby inviting them to explore the displayed content. It is also a suitable platform for creating and distributing content, since it is faster and less expensive than print media.

Specifically designed hardware display panels to be used in digital signage are expected to be rivalled by consumer televisions, which are priced relatively lower. Compatibility and interoperability issues between media players and displays may also act as a growth restraint.

Content management system forms a crucial component of the system, which allows end users to control what is displayed on their screens. Content developers are usually advertisement agencies or marketing agencies which design the content including text, graphics, images and videos to be displayed in order to create maximum impact and target the intended audience.

Key insights from the report include:

Global digital signage display market size was USD 6.07 billion in 2015, with revenue expected to hit USD 9.3 billion by 2023, at 5.5% CAGR from 2016 to 2023.

Asia Pacific digital signage market share is forecast to grow at 6.5% CAGR from 2016 to 2023. Developments in the government and educational sector along with enhanced user experience, infrastructure development, and decreasing display panel prices are forecast to propel growth

Organizational use cases include navigation, communication, point of sale (POS),...