According to a new market research report from Global Industry Analysts Inc. the global digital signage market should hit nearly $14 billion by 2017.
According to GIA, the marketing arena worldwide has witnessed dramatic transformation over the past few years, with a decline in traditional print advertisements in newspapers and static outdoor billboards, but a commensurate rise in interest in new interactive marketing strategies, including digital signage.
Given its ability to use vibrant, media-rich messages to reach the targeted audiences, digital signage represents a powerful medium for advertising, information display and entertainment, GIA said. The market is further driven by the evolution of hybrid digital signage systems in which digital signs are augmented with the interactivity of kiosks, amplifying marketing impact and providing a high ROI business case for these systems. Against a backdrop of a digitalized world, the digital platform of marketing makes for an effective medium to target elusive consumers, especially the younger generation. With several advantages like higher viewer recall and retention of digitally displayed messages, stacked in its favor, digital signage systems are forecast to witness sturdy gains in the upcoming years, reaching $13.8 billion by 2017, according to the report.
The U.S. represents the largest regional market worldwide, with Asia-Pacific the fastest growing regional market with dollar sales growing at a CAGR of about 22 percent over the analysis period, according to GIA. By product, digital signage displays represents the largest segment, while digital signage software represents the fastest growing segment, waxing at a CAGR of about 25 percent over the analysis period.
According to the announcement, the research report, "Digital Signage Systems: A Global Strategic Business Report," provides a comprehensive review of market trends, drivers, company profiles and key strategic industry activities. The report analyzes the global digital signage systems market by all major geographic markets, including U.S., Canada, Japan, Europe, Asia-Pacific, Middle East & Africa and Latin America. Product segments analyzed include Displays, Set Top Boxes and Media Players, Software, among others.
For more on what's ahead in digital signage, visit our Trends/Statistics research center.
