A recent report suggests that the digital display sector is experiencing massive growth, that will see sales levels increase by 50% between 2017 & 2023.
The report from respected market research company Pioneer Reports states
Digital Signage market size will grow from USD 20.74 Billion in 2017 to USD 31.62 Billion by 2023, at an estimated CAGR of 7.28%.
The report continues
The global digital display & signage market is projected to exhibit lucrative growth potential during the forecast period. The market is driven by factors such increasing adoption of digital signage hardware and software products in commercial sector applications, and rising infrastructure expansions in emerging countries. Digital signage has seen major deployment in the retail sector. Retailers prefer digital signage as part of their retail display as it offers the ability to change what is being displayed on the signage without much effort in terms of time or money, thereby saving cost in the long run. The ability to display vivid content, including videos, also supports the growth of the digital signage market. Another key factor impacting this market is the landscape in the display technologies. With ASPs for display technologies showing a downward trend in the coming years, the initial cost can be brought down further that can result in the higher adoption of digital signage. This reduction will also enable growth for signage that demand premium displays.
The report details growth across a number of product groups including kiosks, digital menu boards, billboards, sign boards and many others.