Posted On: 2019-09-16
Growing digital infrastructure coupled with rising popularity of OOH (Out-of-Home) advertising would drive the India digital signage market – 6Wresearch
The advertising industry in India has been growing at a healthy rate over the past decade. Within the industry, the digital Out-of-Home (OOH) or digital signage for outdoor application advertising segment has clocked considerable rowth over the past five years, wherein verticals such as government & transportation, retail and hospitality are witnessing major installations of digital signage solutions across India. In India’s digital signage market, indoor application segment held majority of the share owing to growing installations in domains such as retail outlets, multiplexes, restaurants, pubs/bars and Quick Service Restaurants (QSRs).
According to 6Wresearch, India digital signage market revenue size is projected to grow at a CAGR of 15.1% during 2019–2025. Although India’s digital signage market is yet to develop on a larger scale due to the low degree of awareness in semi-urban and rural parts of the country, the increasing public infrastructure development would drive the penetration of these systems over the coming years.
According to Akshay Thakur, Senior Research Analyst, Research and Consulting, 6Wresearch, “In 2018, panel-based LED screens generated highest market share, in terms of revenues as well as volume, due to their ability to provide high-quality output at comparatively lower costs. Panel-based LED display solutions are popular due to advantages such as easy availability in a wide range of screen sizes, high screen brightness in outdoor conditions, along with compatibility with modern content players.”
According to Prateek Gupta, Research Analyst, Research and Consulting, 6Wresearch, “Within the display screen segment, OLED based digital signage display screen market is anticipated to post considerable growth over the next six years, owing to growing awareness, expected decline in prices coupled with increasing penetration of OLED display screen players. Additionally, the demand for Quantum-dots LED based display screens are likely to undergo noticeable growth in the coming years in both consumer television and commercial digital signage markets.”
“The digital signage market is widely categorized in terms of display screen OEMs, media owners (advertising companies), content players & software providers, and whole solution providers, out of which, display screen OEMs held the highest revenue share in the overall market in India in 2018.” Prateek added.
Some of the major companies in the India digital signage market include Samsung, LG, Panasonic, Sony, and Sharp.
“India Digital Signage Market (2019-2025)” report provides an in-depth analysis with 58 figures and 11 tables covered in more than 100 pages. The report estimates and forecast the overall India digital signage market revenues by display types, technology, applications, verticals and regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.