Global shipments of connected digital signage displays will reach 22.9 million units by 2021. The number of active digital signage displays in the market will also grow at a compound annual growth rate of 18.3 percent from 37.6 million in 2016 to 87.2 million units in 2021, according to a report from Berg Insight.
All market verticals are demanding more digital signage solutions in various countries. The Rest of World market, for example, had 5 million digital signage shipments in 2016. The report also found evidence of increased consolidation in the digital signage market such as Stratacache's acquisition of Scala in 2016.
"While the consolidation trend contributes to limiting the number of participants in the marketplace, there is also a continuous inflow of new players including start-ups eyeing the digital signage industry," Rickard Andersson, senior analyst at Berg Insight, said in the release. He added that one area where new companies will likely continue to emerge is new IoT software solutions for digital signage. "There are promising opportunities in this space for software solutions that make it easier to integrate various data sources and marketing channels with digital signage systems," he said.