The global digital signage market should reach $20.03 billion by 2020, according to a new study by Grand View Research Inc.

Growing demand from application areas such as retail and health care is expected to drive the global market over the next six years, the company said in announcing the study. Creating and distributing content via digital signage serves as an effective marketing tool, which is expected to spur adoption in the corporate sector, the company said, and larger screen sizes such as those over 50-inch displays are expected to gain popularity over the forecast period.

Demand for digital displays with 4K technology also is on the rise to address growing image sharpness requirements to accommodate large displays. Software providers have been targeting the entry-level digital signage market by designing solutions compatible with Android OS. The emergence of IoT and increased adoption of cloud computing is expected to enable collection of vital operational data. Use of digital signage helps prevent paper wastage, and incorporation of LED backlit panels has resulted in considerable energy savings, which is expected to aid in market growth. “Digital Signage Today”

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