With 7.8% CAGR, Digital Signage Market Worth USD 35.94

Pune, India, Oct. 10, 2022 (GLOBE NEWSWIRE) — The global digital signage market size is anticipated to reach USD 35.94 billion by 2026, exhibiting a CAGR of 7.8% during the forecast period 2019 to 2026. Rising efforts to make cities smarter through advanced technology will pave the way for the growth of this market in the given time period. Fortune Business Insights™ presents this information in their report titled, “Digital Signage Market Forecast, 2019-2026.”

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Urbanization around the globe is speeding ahead at an exponential rate owing to the movement of people from rural to urban areas. According to UN estimates, by 2050, around 68% of the world’s population will be living in urban areas. This has prompted governments in many countries to transform cities into smart cities to make governance more efficient and effective. For instance, in March 2018, the Independent reported that police authorities in Shenzhen, China have deployed facial recognition technology, using AI-based CCTV cameras to catch jaywalkers and implement traffic rules stringently. As countries develop, the demand for digital signage solutions is likely to spike and this will be one of the leading digital signage market trends during the forecast period.

Key Industry Developments:

May 2021: LG Electronics partnered with VITEC, a video encoding and streaming solutions supplier. The collaboration focuses to permit enterprise IPTV consumers to safely supply, view multicast MPEG video on LG webOS-based smart signage displays.

June 2019: Sony Electronics collaborated with Kramer Electronics to integrate its BZ35F series of BRAVIA™ 4K HDR professional displays with Kramer Control BRAINware. Kramer’s software would enhance any Audio-Visual installation by adding advanced controls and analytics to Sony’s high-quality…