Global Digital Signage market to grow by projected US$10.3 Billion
By M4G Bureau - June 02, 2020
The changing relationship between China and the rest of the world will influence competition and opportunities in the Digital Signage Systems market
The DOOH market, experiencing a surge before the global pandemic hit world widely, causing a dent on the growth entirely. However, the situation does not seem so dire for DOOH solution providers according to a study published by Reportlinker. Amid the COVID-19 crisis and the looming economic recession, the Digital Signage Systems market worldwide is expected to grow by a projected US$10.3 Billion, during 2020-2027 period, driven by a revised compounded annual growth rate (CAGR) of 6.1%. Hardware, one of the segments is forecast to grow at over 6.1% and reach a market size of US$12.9 Billion by the end of the analysis period.
Hardware companies will have to align with the “New Normal” as the industry will reset, going forward in the post-Covid era. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.
As part of the new emerging geographic scenario, the United States is forecast to readjust to a 4.9% CAGR. Within Europe, the region worst hit by the pandemic, Germany will add over US$311.6 Million to the region's size over the next 7 to 8 years. In addition, over US$306.7 Million worth of projected demand in the region will come from Rest of European markets.
In Japan, the Hardware segment will reach a market size of US$573 Million by the close of the analysis period. Blamed for the pandemic, significant political and economic challenges confront China.
Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Digital Signage Systems market. Against this backdrop and the changing geopolitical, business and consumer sentiments, the world's second largest economy will grow at 10% over the next couple of years and add approximately US$2.7 Billion in terms of addressable market opportunity. Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Digital Signage Systems market landscape.