Report: Digital signage market to reach $32 billion by 2023
The digital signage market will reach $32.84 billion by 2023, and will grow at a compound annual growth rate of 7.4 percent between 2017 and 2023, according to a report by ReportsnReports.
LED and LCD displays are expected to drive the market, although OLED displays will also experience high growth. However, the lack of standards of interoperability between devices is restricting growth.
Other key trends covered in the report include:
- Cloud-based digital signage software and interactive signage systems continue to grow;
- North America will hold the highest market share in the period; and
- The Asia-Pacific region will experience the most growth during the forecasted period.