Posted On: 2017-09-26
The GCC region is currently home to over 18,000 projects nearing completion and under construction with the combined project value of over $2.3 billion. The region hosts various international events on yearly basis and would be the host of two major events – Qatar FIFA World Cup in 2022 and Dubai Expo 2020. These factors have pushed the construction of indoor as well as outdoor infrastructure and is offering huge opportunities for the marketers to showcase their products and services on the international platform, which has led to the demand for digital signage solutions in the region.
According to 6Wresearch, GCC Digital Signage Market is expected to grow at a CAGR of 12% during 2017-23. Digital signage market grew on the back of increased digital marketing spending by the advertisers in the previous two years as well. The governments across six countries have taken various measures to push tourism and other non-hydrocarbon industries in order to reduce wean off the economy from oil dependency.
According to Prijo Samuel, Assistant Research Manager, Research and Consulting, 6Wresearch, "Retail segment accounted for majority of revenue share in the overall market with malls and shopping complexes accounted for the biggest spenders for signage solutions."
"Additionally, video walls and large display signage stood out as the preferred choice for these retail outlets due to their capability of broadcasting message to large audience over a vast area. Curved video walls and dual sided signage solutions were also a significant feature for the retail signage segment," Samuel further added.
According to Kushagra Sharma, Research Associate, Research and Consulting, 6Wresearch, "LED signage solutions led the market in terms of revenues as well as volume share due to their high quality output at comparatively lower cost."
"The LED displays, due to continuous innovation and improvement in technology have captured the market with their availability in wide range of screen size, high screen brightness in outdoor conditions along with compatibility with modern content players," Kushagra further added.
Major players in GCC Digital Signage market include- LG, Samsung, Sharp, Panasonic, Mood Media, NEC, Sony, Toshiba, BenQ, Scala, and Navori.
GCC Digital Signage Market (2017-2023)" provides in-depth analysis with 314 figures and 14 tables covered in more than 300 pages. The report estimates and forecast the overall GCC digital signage market by revenues, sales volume, by component, display screen type, display screen technology, display screen size, by end users, by applications and by country. The report also gives insights on competitive landscape, market share by companies, company profiles, market trends, market drivers and restraints.