Digital Signage Market share to grow at 5.2% CAGR from 2016 to 2023: Global Market Insights Inc. Industry Overview Global Digital Signage Market size forecast was over USD 15 billion in 2015 and it likely to exceed revenue of USD 23 billion by 2023, escalated by high demand for digitally enabled products with enhanced content. Innovations in display panel production techniques have led to substantial price decline predicted to positively affect global digital signage industry trends. Software dealers are growingly concentrating on entry level items. Execution of flip clip technology leading to good dissipation of heat, reduced LED failure and large availability of light angles is predicted to lessen digital signage market price trend. However, lack of standards to assure interoperability between these two equipment kinds is one of the key challenges to industry growth. Creating advanced solutions with already available commercial media players and displays is a key threat to the growth of the industry due to interface compatibility. Producing and distributing contents through digital signage technology is rapid and cost effective. For example, a hotel can make use of digital signage to promote its shopping amenities, dining services and recreation facilities.
Application Trends The industry is segmented into various applications like retail application and healthcare application. Retail application contributed more than 40% of global industry share for 2015. It is predicted to continue its domination in future. Healthcare segment features positive regulatory scenario for industry growth. It is predicted to register 7% CAGR during forecast timeframe. Pharmaceutical Research and Manufacturers of America has made such regulations that disallows pharmaceutical firms from following the traditional practice of distributing notepad and branded pens to physicians for marketing their products. The new rules have compelled the firms to explore 3D technology based digital signage as a feasible marketing tool. Further, this technology assists in reducing perceived patient waiting times by curbing their anxiety through entertainment.
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