The global smart LED indoor signage market is expected to generate revenues of approximately $2 billion by 2023
Thursday, October 11, 2018
LONDON, Oct. 11, 2018 /PRNewswire/ -- 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.
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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 driven by the advent of LED and e-paper displays and the usage of micro-displays in consumer applications. The increasing number of digital initiatives in learning and training avenues will contribute to the growth of the global market. The market research report provides in-depth market analysis and segmental analysis of the global market by screen size, end-user type, and geography.
The report considers the present scenario of the global smart LED indoor signage market and its market dynamics for the period 2018?2023. It covers a detailed overview of various market growth enablers, restraints, and trends. The study includes both the demand and supply sides of the market. It also profiles and analyzes the leading companies and various other prominent companies operating in the market.
Smart LED Indoor Signage Market - Dynamics
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. 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. 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.
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. Sports segment dominated less than 1/3rd of the total market share in 2017, growing at a CAGR of over 29% during the forecast period. The extensive use of digital signage in numerous sports stadiums, fitness centers, and gyms is driving the growth of this segment in the global market.
55+ screen size segment occupied around 1/3rd of the market share in 2017, growing at a CAGR of approximately 28% during the forecast period. The growing demand for bigger display signage in indoor stadiums, airports signages, business conference, and eventsis propelling the growth of this segment in the global market.
Market Segmentation by Screen Size
-- Less Than 32''
Market Segmentation by End-User Type
Smart LED Indoor Signage Market - Geography
The global indoor LED signage market by geography categorized into APAC, Europe, North America, Latin America, and MEA. APAC is the fastest growing region in the market, at a CAGR of around 28% during the forecast period. The exponential growth of the service industry, growing number of SMEs, increase in duty-free retailing, and rapid infrastructural development are some of the major factors attributing to the growth of the APAC region in the global indoor LED signage market. 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.
Market Segmentation by Geography
-- North America
o South Korea
-- Latin America
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
1. The analysis of global smart LED indoor signage provides market size and growth rate for the forecast period 2018-2023.
2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the global smart LED indoor signage.
3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
4. It offers a complete overview of market segments and the regional outlook of the global smart LED indoor signage.
5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.
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