By Susu | 12 March 2022 | 0 Comments
Digital signage is estimated to be worth $38.23 billion by 2028
Digital signage is estimated to be worth $38.23 billion by 2028
The digital signage market has been affected to a significant extent due to the effects of COVID-19. The market is highly impacted due to disruptions in the supply chain caused by temporary closure of manufacturing plants in many countries and trade restrictions affecting material flow.
MARKET INSIGHTS
2020 owing to growing trend towards interactive marketing to increase audience attention.The global digital signage screen market was valued at USD 21.49 billion in 2020 and is expected to grow at a CAGR of 7.5% over the forecast period to reach an estimated value of USD 38.23 billion by 2028.
Due to expanding transport sector and infrastructural developments being carried out in the emerging countries.The key drivers attributing to the market expansion include
1.The escalating demand for digital display screen
2.Decreasing display panel cost
3.Growing investments for promoting brand awareness
4.Increased use in transportation, healthcare, and corporate industry
North America dominated the overall market with a revenue share of over 35% in 2019, owing to the presence of the well-developed and highly penetrated advertising segment that uses innovative digital signage display to attract audience. Asia Pacific is predicted to be the fastestgrowing region with a CAGR of 9.0% over the forecast period. This is attributed to gradually increasing economic condition of India and other South East Asian countries. China and Japan held major market share in Asia Pacific region with more than 65% of total market shares between them in 2020 in terms of revenue.
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