A new study from global market research and consulting company MarketsandMarkets suggests that the digital signage market will be worth $13.2 billion by 2016, according to an announcement from MarketsandMarkets.
The digital signage report covers the market on the basis of components, applications, display technology and geography, the company said.
According to the new market research report, "Global Digital Signage, Dynamic Signage, Electronic Signage, Narrowcasting Market by Components (Hardware & Software)/Applications (Indoor, Retail, Transportation, Institutions)/Displays (LED, Plasma, LCD, Projectors & LED Walls) & Geography (2011-2016)," the total market is expected to reach $13.2 billion by 2016 at an estimated CAGR of 27.29 percent from 2011 to 2016.
The research was conducted noting the paradigm shift in demand for digital signage products and its applications for many sectors such as retail, education, government, corporates, sports and transport in North America, Europe, APAC and ROW.
Falling display prices and increasing applications of digital out-of-home have increased the scope of the overall market, the company said. And an increase in demand for more integrated features in digital signage systems by customers has also increased the scope of digital signage software market.
This report elaborates the market dynamics for the digital signage market in the face of areas such as enhanced user experience, emergence of new markets in educational and government, increase in demand due to the falling prices of LCD devices, power problems, damage of digital signage displays and scaling of networks, the announcement said.
More about the report can be found at http://www.marketsandmarkets.com/Market-Reports/digital-signage-market-513.html.
Learn more about digital signage trends.