Digital Signage Market Worth $23.76 billion by 2020

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The global digital signage market is projected to reach $23.76 Billion by 2020, growing at a compound annual growth rate (CAGR) of 8.18% between 2015 and 2020. 

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The same report says the European Digital Signage Market is expected to reach $7.03 Billion by 2020 at a compound annual growth rate (CAGR) of 8.84%.

This is from the latest report by MarketsandMarkets, a global market research and consulting company.

In Europe, the retail and hospitality sectors are expected to be the major applications boosting the growth of this market. 

According to the report authors, the demand for distribution and scheduling software has increased considerably over the past few years, mainly due to its ability to support activities such as creation, distribution, and scheduling, and displaying content for the LCD, LED, and OLED displays installed across the commercial, infrastructure, institutional, and industrial applications. It allows the users access to distribute and schedule programs over a large network or on a USB flash drive, and to select the software version as per their requirement, business environment, and the existing systems. 

Content management system is a major type of software in the digital signage market: it is expected to grow at a CAGR of 9.30% between 2015 and 2020. It facilitates the creation and management of the various types of information sent to digital signage displays. It is used for more sophisticated signage content and better ease of use. It also enables employees or students to  add content without gaining higher levels of administrative control over content. This system is used in all applications, as content is main aspect.

North America holds the major market share for digital signage market followed by Europe and APAC. APAC is expected to grow at the highest CAGR of 9.34% between 2015 and 2020, and reach $6.91 billion by 2020. 

The report refers to a number of players in the market who provide a wide variety of digital signage solutions and other allied solutions such as NEC Display Solutions (Japan), Samsung Electronics Co. Ltd. (South Korea), LG Display Co., Ltd (South Korea), Sharp Corporation (Japan), Sony Corporation (Japan), Panasonic Corporation (Japan), AU Optronics Corp. (Taiwan.), Planar Systems, Inc. (U.S.), Adflow Networks (Canada), and Omnivex Corporation (Canada).

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