The digital signage market is projected to grow by $6.71 billion by 2025 with the market's growth momentum reaching 8.80% compound annual growth rate, according to a report from market research firm Technavio Insights.

The report details statistical qualitative and quantitative data on hardware, software, and services, application, retail, QSR and restaurants, education, healthcare and others, according to a press release. The data revealed how regions across the world contribute to the market.

Additional highlights include:

• The high growth of retail space is notably driving digital signage market growth.

• The foremost factor impeding market growth is the growing e-commerce market.

• AU Optronics, Daktronics, E Ink Holdings, HP, LG Electronics, NEC, Panasonic, Samsung Electronics, Sharp, and Sony are a few of the key vendors in the digital signage market.

• 37% of the market's growth will originate from Asian-Pacific countries during the forecast period. China and Japan are the key markets for digital signage in Asia-Pacific. The region has been recording a significant growth rate and is expected to offer several growth opportunities to market vendors during the forecast period.

• The digital signage market share growth by the hardware segment has been significant.

Key drivers and trends

There has been a negative impact on the market growth post-COVID-19, according to the report. Key factors such as the increasing adoption of digital signage in numerous service sectors and the high growth of DOOH signage are notably driving the market. However, improper digital signage implementation and cybersecurity issues are some challenges expected to impede market growth.

The digital signage market is fragmented, and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

Technavio, founded in 2003, is headquartered in Elmhurst, Illinois.

Original Source

You may also like

The Toy Industry Is Making its Triumphant Return to Retail
The Toy Industry Is Making its Triumphant Return to Retail
1 August, 2022

Already worth $21.5 billion, the U.S. Toy industry continues to show resilience and is forecasting continued growth. A o...

Toys R Us Marketing Campaign Goes Global with World Tour for Geoffrey
Toys R Us Marketing Campaign Goes Global with World Tour for Geoffrey
25 May, 2022

The reborn Toys R Us is sending its best ambassador on the road in a campaign to remind the world that the toy retailer ...

5 Shopper Essentials for Black Friday
5 Shopper Essentials for Black Friday
26 October, 2022

Black Friday/Cyber Monday is the busiest and most lucrative time of year for most online retailers. In 2021, Cyber Week ...