As the total cost for digital signage continues to decrease each year, expanded deployment becomes more feasible for larger audiences in many industry sectors. According to leading global information source IHS Inc., with the availability of larger panels, ultra-narrow bezel video wall displays, higher resolution, lower power consumption and a variety of content management software available in the market, overall revenue for the digital signage market is expected to increase by 10% in 2015 and 7% in 2016.
Based on the latest information from the IHS Digital Signage Industry Market Tracker, software revenue had its strongest overall growth in 2014, generating $431 million, representing an increase of 21% over the previous year. Media players and set-top boxes (STBs) had the next largest increase of 19 percent, followed by digital out-of-home media revenue at 11%.
“As the 4K ecosystem continues to mature, further revenue growth for media players, set-top boxes and PCs will be driven by the expansion of 4K digital signage solutions,” says Sanju Khatri, director of digital signage and professional displays for IHS Technology. “An increase in the availability of 4K media players, along with decreased costs for entry into the space, will help propel strong growth this year and in 2016.”
The IHS Digital Signage Industry Market Tracker presents data devoted to the digital signage monitor and digital signage TV markets, measuring growth rates in units, revenue, and pricing for various display technologies, including liquid crystal display (LCD), plasma display panel (PDP), light-emitting diode (LED) video, front and rear projection, media players, set-top boxes, and PCs in eight vertical markets.