Declining Prices of Micro-Displays to Boost Demand in the Global Indoor Signage Market
Arizton’s recent market research report on the global indoor signage market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research study segments the market by screen size (less than 32, 32-35, and 55+), by end-user type (retail, corporate, public, sports, & others), by geography (APAC, Europe, North America, Latin America, and MEA), and offers detailed competitive analysis.
The global indoor signage market is estimated to reach values of around $2 billion by 2023, growing at a CAGR of more than 24% during 2017-2023.
The extensive uses of smart signage help in easy and efficient internal communication, with the proper employee, customer, and people engagement, thus providing them with a distinctive experience in the global market. The exponential growth of the healthcare, education, and duty-free retail industries is contributing to the growing revenues in the global indoor signage market.
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The top 3 drivers and trends propelling the growth of the global indoor signage market are discussed below:
Growing adoption of Smart LED Signages
The rising adoption of digital technologies such as smartphones, voice-controlled devices, internet TV, and smart signages will revolutionize the global indoor signage market. The digital revolution is changing the way consumers behave and engage with companies globally serving them. With the change in the way business is conducted, the companies are looking for digital innovations to implement in the regular business operations to attract new consumers in the global indoor signage market. The growing demand for smart signage from the retail, public, and corporate sectors will boost the revenues in the global market. With digital devices becoming an integrated part of daily operations in business across industries, will drive the demand for smart, digital signage in the global market. These display systems help the business owner in anticipating the consumer behavior, expanding their reach, more real-time updating of messages and menu chart in restaurants, easy flow of internal communication in the corporates, and displaying of promotional offers according to the available inventory in retail outlets in the market. The government initiatives to promote digital economy and dynamic change in consumer demand and behaviorwill create lucrative opportunities for leading vendors in the global market. The use of these units will help vendors to expand their reach, proper use of inventory, and displaying of right promotional offers at the right time in the global indoor signage market.
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Declining Prices of Micro-displays
The declining prices of micro-displays such as LCD, LED, and EPD displays will augment the growth of the global indoor signage market. The combined effect of technological growth and economies of scale are the primary factors attributing to the price reductions of micro-displays in the global market. The advent of new display technologies is leading to the plethora of innovations in the multimedia environment and consumer products in the market. The growing demand for LED is resulting in an increase in the production facilities and the economies of scales, thereby reducing the prices of these products in the global indoor signage market. The leading vendors are focusing on constant upgrades driven by innovative technological advances to sustain the intense competition in the market. EPD displays are gaining immense prominence in the market with the use of these units for e-books, wrist watches, and mobile phones. This decrease in price is driving the adoption of displays in a host new set of applications including price labels and ESLs in the global market. Such factors will have a positive impact on the overall development of the global indoor signage market.
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Increase in Going Mobile and Going Social Trend
The exponential use of smartphones and the prominence of mobile-internet is propelling the growth of the global indoor signage market. The top vendors are leveraging the flexibility of mobile applications and social media platforms for content creation and consumption to reach the maximum number of consumers in the global market. Signage content creators are now able to add bite-sized lessons and deploy learning modules in sprints easily in order to match the user’s daily routine. The development of more collaborative and interactive modules will drive the growth of the global indoor signage market. Continuous news feeds, peer-to-peer challenges, flashcards, and content collaboration are making for a more cheerful and meaningful involvement of consumers in the market. Social media is adding to the emergence of new advertising and communication methods in the market. Moreover, the acceptance and adoption of cloud-based applications and services will transform the global indoor signage market over the next few years.
The leading vendors in the global indoor signage market are Samsung, LG Electronics, Sharp, Panasonic Corporation, and Philips.
The complete overview of the latest market research report on the global indoor signage market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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