The global market for digital signage is set for another strong year of growth as expanded deployment becomes more feasible due to the lowering total cost of the technology, according to a new report from IHS.
Revenue for digital signage is forecast to increase by 10% in 2015. In 2016, digital signage is expected to grow an additional 7%, IHS says. Growth in this segment is attributed to the wider availability of larger panels, ultra-narrow bezel video wall displays, higher resolution, lower power consumption and a variety of content management software that combine to cut the total cost of these solutions to customers.
In 2014, software revenue reached $431 million—an increase of 21% over the previous year. Media players and set-top boxes (STBs) had the next largest increase at 19%. That was followed by digital out-of-home media revenue at 11%.
Sanju Khatri, director of digital signage and professional displays at IHS, says that the 4K ecosystem is continuing to mature leading to further revenue growth for media players STBs and PCs.
“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,” she says.
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