According to a new research report from Berg Insight, global shipments of connected digital signage displays grew by 16,7% to 17,2-million units in 2019.
Market growth is driven by greater demand for digital signage solutions in all market verticals, technological advancements and a continued decline in prices.
Shipments to the EU28+2 countries totalled an estimated 3,9-million units, whereas shipments to North America reached 4,8-million units. The Rest of World market accounted for the remaining 8,5-million units.
Berg Insight forecasts that global shipments of connected digital signs will grow at a compound annual growth rate (CAGR) of 13.,8% in the next five years to reach 32,8-million units by 2024. As a result, the number of connected digital signage displays in active use worldwide will grow at a CAGR of 15,2% from an estimated 63,8-million units in 2019 to 129,4-million units in 2024.
The digital signage industry is highly fragmented with a large number of companies active in the marketplace. As for other fragmented markets, consolidation is increasingly taking place among the industry vendors as the market matures.
“The digital signage space has seen a large number of M&As over the past years involving various companies active in this industry,” says Rickard Andersson, principal analyst at Berg Insight.