LONDON--(BUSINESS WIRE)--According to the latest research study released by Technavio, the global advertising displays market is expected to reach over USD 22 billion by 2020.
This research report titled ‘Global Advertising Displays Market 2016-2020’, provides an in-depth analysis of market growth in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all leading regions.
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“Digital signage in the retail industry has gone through multiple stages of evolution. Earlier, these systems were only used to deliver information. However, with the advent of interactive kiosks, digital signage has grown in prominence on account of a growing need for customer interaction for an enhanced in-store experience, and to offer better customer service. This market forecast predicts the global retail advertising display segment to reach USD 9.52 billion in revenue by 2020, growing at a CAGR of over 7% during the forecast period,” said Soumya Mutsuddi, one of Technavio’s lead analysts for publishing and advertising research.
Global advertising display market by type in 2015
| Displays | 38.92% | |||
| Advertising media revenue | 35.68% | |||
| Services | 10.22% | |||
| PCs | 5.64% | |||
| Software | 2.85% | |||
| Media player | 1.30% | |||
| Others | 5.38% |
Source: Technavio research
Top three segments of the global advertising displays market:
- Displays
- Advertising media revenue
- Services
Displays segment: largest revenue contributor
The display segment was valued at over USD 6.55 billion in 2015. Technavio researchers observe, the display segment is expected to witness substantial grow during the forecast period because of advances such as LED and active-matrix organic light-emitting diode (AMOLED) displays. Such advances have led to price erosion in outdated technologies and has made digital signage viable for companies that work on relatively low advertising budgets.
Many companies fail to harness the full potential of electronic displays due to affordability issues. These companies focus on content and delivery mechanism of the said content, rather than hardware. Market vendors are likely to focus on this end-user segment and launch innovative products during the forecast period.
Advertising media revenue segment: second largest revenue contributor
The advertising display media revenue segment was valued at over USD 6 billion in 2015. The effectiveness of various forms of advertising is declining due to increasing fragmentation of audiences. Out-of-home (OOH) media has emerged as an innovative advertising medium, especially for potential customers that are on the move. Due to the growing popularity of outdoor advertising, the revenue for this segment is predicted to increase during the forecast period.
As more companies realize the potential of advertising displays, the disparity between the time spent OOH and the funds spent on advertising displays is also expected to drastically reduce during the forecast period.
global advertising displays market by services
The service segment of the advertising display market was valued at close to USD 2 billion in 2015. The advertising display service segment includes equipment servicing and maintenance required for proper functioning of advertising displays. Though digital signage is a powerful advertising tool for companies, it is vulnerable to wear and tear. Its functioning can be affected by heat, dust, and chemicals that are used in the display rig. Proper ventilation and regular cleaning may not be enough to prevent mechanical breakdowns or clog mechanism, which may arise due to a lack of maintenance and insufficient attention to surroundings of the installed unit. Technavio researchers predict such factors will increase the maintenance cost for companies who own display units, and help augment the demand for services through the forecast period.
Browse related reports:
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