Posted On: 2017-10-09
Saudi Arabia witnessed huge shift in government’s perspective of nation’s economic growth as a result of drop in oil prices. This factor has led the government to introduce Vision 2030 plan and National Transformation Program 2020. The strategic plan to rebalance country’s GDP in favor of non-oil dependent sectors through increasing investment from private sector boosted growth in retail, hospitality, and education sectors, which in turn contributed to the growth of digital signage market in the country.
According to 6Wresearch, Saudi Arabia Digital Signage Market is expected to grow at a CAGR of 13% during 2017-23. Saudi Arabia’s commercial real estate sector witnessed completion of various projects including King Abdullah Economic City, Riyadh Metro Project, and Medina Economic City, which immensely contributed to the growth of digital signage market in the country. Growing tourism sector due to government’s continuous efforts to promote the industry and continued influx of tourists in the religious centers of Mecca and Medina, have provided ample incentives to the advertisers to deploy digital signage systems.
According to Prijo Samuel, Assistant Research Manager, Research and Consulting, 6Wresearch, “Video wall solutions were highly sought after in Saudi Arabia due to their sound visibility in crowded place and customized options in terms of display solution sizes.”
Additionally, video walls with low volume & large sizes in terms of display screen, were mostly utilized on the façades of airports, retail stores, and shopping malls. LED displays led the video walls market in 2016 and this trend is expected to continue over the next two years,” He further added.
According to Kushagra Sharma, Research Associate, Research and Consulting, 6Wresearch, “OLED display segment registered sharp growth in 2016. Majority of the end users preferred OLED screens for their high definition display capabilities and superior visual experience.
Moreover, luxury hotels, shopping malls, and commercial offices are registering significant growth in the adoption of OLED digital signage solutions in Saudi Arabia,” He further quoted.
Some of the major players in Saudi Arabia Digital Signage Market include- BenQ, LG, Mood Media, Navori, NEC, Panasonic, Samsung, Scala, Sharp, and Sony.
“Saudi Arabia Digital Signage Market (2017-2023)” estimates and forecast the overall digital signage market by revenues, sales volume, component, display screen type, display screen technology, display screen size, end users, applications and country. The report also gives key insights on competitive landscape, market share by companies, company profiles, market trends, market drivers and restraints.