Wednesday, August, 21, 2019 06:19:59

Digital Signage Market Size in Asia Pacific Region is Anticipated to Grow at CAGR of 6% By 2023

Asia Pacific digital signage market is anticipated to witness significant growth at a CAGR of nearly 6% over the next seven years. This growth is attributed to the decreasing cost of the display panels accompanied with the rising funding on infrastructure development in the region. In addition, the demand for enhanced visual experience and educational market development may surge the adoption of the technology in the region.

Global Digital Signage Market size was greater than $15 billion for 2015 and is predicted to register CAGR of 5.2% during forecast timeframe. 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.

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LCD display technology contributed to greater than 55% of the industry share for 2015 but is predicted to expand at sluggish rate than global average during forecast period. Large screen sizes like those bigger than 50 inch displays are predicted to experience higher acceptance during forecast timeframe. In contrast to this, small sized displays are predicted to lose their industry share due to declining LCD costs and rising digital signage market size.

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.

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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. ‘

U.S. digital signage market size was $4.4 billion for 2015. Rising demand across various application areas is predicted to positively affect the industry growth of the region. Favourable application overview along with improved user experience is a key factor driving the industry growth in Asia Pacific. Regional demand for the digital signage across transportation segment is predicted to register a CAGR of about 7% during the forecast period.

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Key Digital Signage Market players profiled in the report include Panasonic Corporation, Samsung Electronics, LG Electronics, NEC Display Solutions Limited, Scala Incorporation, Adflow Networks, Cisco Systems Incorporation, KeyWest Technology Incorporation, Microsoft Corporation, BrightSign LLC, Intel Corporation, Omnivex Corporation, Polk Audio and Winmate Communication Incorporation.

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