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This market research report on the global smart LED indoor signage market offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study analso includes insights on segmentation byscreen size (less than 32, 32-35, and 55+), by end-user type (retail, corporate, public, sports, & others), and by geography (APAC, Europe, North America, Latin America, and MEA).
Smart LED Indoor Signage Market - Overview
The dramatic transformation of the advertising industry is augmenting the exponential growth of the global smart LED indoor signage market. The digital shift from traditional advertising methods such as print, TV, radio, and billboards to web-based, mobile, and other innovative media is boosting the demand for LED technology in the global market. Availability of affordable, interconnected, HD flat displays is enabling the content providers and advertisers to replace the static advertisement with dynamic video and personalized content to attract maximum consumers in the global smart LED indoor signage market. The extensive use of various display technologies such as LCD, LED, OLED, and projectors will augment the growth of the global market. The adoption of digital signage will transform the advertising industry and change the way marketing strategies are implemented in the market. The leading vendors are leveraging smart tech that allows them to integrate media players and content management software with LED displays. The development and usage of SoC (system on chip) processors across commercial display signs will revolutionize the medium and boost revenues in the global smart LED indoor signage market. SoC technology integrated smart signages are capable of performing numerous tasks such as a display, video, video blogging, playing online contents, for video conferencing, and many other functions. Superior graphics performance and improved customizability are some of the benefits contributing to the development of the global smart LED indoor signage market.
The healthcare, education, and duty-free retail industries are the largest revenues contributors in the market. The increasing focus on enhancing in-store customer experience that will encourage the customer to complete the purchase in-store rather than e-commerce platforms will have a positive impact on the global market. The global smart LED indoor signage market is expected to generate revenues of approximately $2 billion by 2023, growing at a CAGR of more than 24% during 2017-2023.
Smart LED Indoor Signage Market - Dynamics
The development of smart cities and the extensive use of digital technologies is propelling the growth of the global smart LED indoor signage market. This form of urban planning uses digital technologies including internet, voice enabled devices, connected devices, and smart signages to make the life of the resident very easy and comfortable. The global smart city market is projected to grow at a CAGR of more than 18% during the forecast period. The establishment of smart cities will include efficient mobility, smart and enhanced buildings and home, corporate offices, organized retail market, shopping complexes, with the city mostly based on web-based services and connected devices. The building of these cities is expected to fuel the demand for electronic signs and digital menu boards in the global market. The rising use of these digital displays will help in connecting and increasing the efficiency of operations and business communications in the market. The primary focus on easy mobility, public safety, health, and productivity of smart cities will fuel the growth of theglobal smart LED indoor signage market over the next few years.
Smart LED Indoor Signage Market - Segmentation
This market research report includes a detailed segmentation of the market by screen size, end-user type, and geography.
Smart LED Indoor Signage Market – By Screen Size
The growing demand for bigger screens across stadiums and business centers will drive the global smart LED indoor signage market
The global smart LED indoor signage market by screen size is divided into less than 32, 32-35, and 55+. 32-35 size segment dominated almost half of the market share in 2017, growing at a CAGR of around 22% during the forecast period. The growing demand for bigger screens from the indoor stadiums, airports signages, business conference, and events is primarily driving the growth of this segment in the global market. The growing trend of video conferencing, displays at movie theaters, subways, and malls are contributing to the demand for big screens in the market. Corporate offices using interactive display units will create new avenues for major players in the global market. Sports, subways, airports, waiting for lounges, restaurant and pubs, movie theater, and malls are major end-users of 32-55-inch sized screens in the global smart LED indoor signage market. Less than 32-inch screens find applications in schools, colleges, and hospitals, and gyms and fitness centers. The growing expansion and new construction of airports will fuel the demand for such big screens signages across the global market during the forecast period.
Smart LED Indoor Signage Market – By End-User Type
Branding and eye-catching advertisements to contribute to the revenues the global smart LED indoor signage market
The end-user type segment in the global smart LED indoor signage market is classified into retail, corporate, public, sports, & others. The retail segment occupied the majority of the market share in 2017, growing at a CAGR of more than 20% during the forecast period. The rising disposable income, increasing consumer confidence, and growing organized retailing is promoting the development of the retail segment in the global market. The companies are trying to maximize their profits by maintaining an efficient supply chain, effective merchandising, and marketing strategies. Various retail giants are providing uber customer service, offering a distinctive shopping experience, and catering to the needs of local consumers by integrating innovative lighting systems and digital signage players in the global market. The use of these system acts as the major promotional and advertising methods adopted by the retail sector, and it helps in easy communication and spreading the information about various products in the global market. The focus on customizing the content and providing the messages according to the specific consumer group or segment is propelling the growth of the global smart LED indoor signage market. The growing usage of these digital signs at airport terminals, bus stations, metro stations, movie theaters, subways, and other public places makes public the second largest end-user segment in the market. With globalization and expanding business operations, the corporate section to also gain significant market share over the next few years.
Smart LED Indoor Signage Market – By Geography
The US and Canada are the largest revenue generators in North America in the global smart LED indoor signage market
The global smart LED indoor signage market by geography is segmented into APAC, Europe, North America, Latin America, and MEA. North America dominated more than 2/4th of the market share in 2017, growing at a CAGR of more than 19% during the forecast. The increasing investment on upgrades of the existing infrastructure is propelling the growth of North America. North America has some of the strictest laws about human and workspace safety, which in turn, contributes to the demand for digital signage. The US and Canada are the largest revenue generators in the North American market. The increasing focus on product development is propelling the growth of the North American region in the global smart LED indoor signage market. Europe is the second largest region in the global market with the UK, France, Spain, Italy, and Germany emerging as the largest revenue generators. The growing disposable income, westernization, and the increasing impact of the social media are driving the market for smart LED signages in the APAC region.
The key countries profiled in the report are:
- South Korea
Key Vendor Analysis
The global smart LED indoor signage market is highly concentrated, and the major players contribute to the level of competition. The top vendors in the global market are competing regarding sales, revenues, and innovative portfolio. The leading companies are offering competitive prices and integrated services to sustain the competition in the global market. Various vendors are entering into a multi-year arrangement that offers services that include the supply of displays, price, and supply analytics, POS hardware, and software to gain a larger global market share. The expansion to various emerging regions will help players boost their revenues in the global smart LED indoor signage market.
The major vendors in the global smart LED indoor signage market are:
- LG Electronics
- Panasonic Corporation
Other prominent vendors in the smart LED indoor signage market include NEC Display, Vestel, BenQ, IAdea, Toshiba, MetroPlusAds, Grandwell smart display solutions, Firstouch solutions, INK Drops, and Tecnon Smart Display. .
Key market insights include
- The analysis of global smart LED indoor signage provides market size andgrowth rate for the forecast period 2018-2023.
- It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the global smart LED indoor signage.
- The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
- It offers a complete overview of market segments and the regional outlook of the global smart LED indoor signage.
- The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.
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