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Indian digital signage market to grow 25% per annum over next 5 years

June 12, 2014

India's digital signage systems market is in its nascent stage, but the market is witnessing promising growth and is projected to reach $524 million by 2019, at a CAGR of 25.8 percent from 2014 to 2019, according to a new report from 6Wresearch, "India Digital Signage Market (2014-2019): Market Forecast by Display Technologies, Display Size, Media Player, Software, Applications and Regions."

A growing retail sector, a trend toward urbanization, increasing advertising expenditures, improving public and private infrastructure, and the associated benefits offered by digital signage systems are boosting its market in the country, according to the research firm.

Through last year, LCD display-based signage systems have captured majority of the market share in the country. However, in the forecast period, LED display-based signage systems are expected to witness highest growth rate amongst all display technologies. Displays in the 32- to 40-inch range have captured the majority of marketshare in the country, 6Wresearch said.

Gesture-controlled signage systems are now also getting accepted in the country, the company said. Deployment of video walls is an emerging trend, which is gaining popularity at various corporate events, fashion shows and mass concerts. Looking at high capital cost involved in video walls, rental business of these systems is also on the verge of evolution, it said.

In India, companies are partnering with other companies to offer their solutions. For instance, Scala has formed a joint venture with Digfour Technologies and 3M Digital Signage has partnered with Enkay Technologies to explore new opportunities in the Indian Market, according to the company.