Australia’s digital signage market’s worth is expected to be $133 million by 2020. This is according to the market research company, Frost & Sullivan.
The results from the Frost & Sullivan report
The report which Frost & Sullivan published titled as “Australian Digital Signage Systems Market 2015” showed that the digital signage market including sales on digital signage displays, software, media players and content management increased by 12.1% in 2014 and reached $133 million. This solid growth in the market is expected to continue through the next years with a 13.9% CAGR during 2015 to 2020.
Digital and billboard signage around Australia
The fast growth is contributed by the increase in market opportunities specifically in the financial services and also on outdoor segments with a greater proportion of bigger roll-outs. Australian shopping centres and retail chains installed digital signage systems and some other forms of advertisements to increase traffic. Other industries like telecommunications, fast food chains and banking also have an increasing market need for digital signage.
Many major roll-outs of outdoor signage have also been made by Australia’s public transport sector. They are found in places like the train stations in some major cities and at the domestic and international airports. Billboard signage retain its use at some public locations instead of the digital signs being used.
The corporate sector also is taking advantage of this new trend and is putting high definition video walls in office towers, car parks, foyers, and lifts. There’s been strong demands from tier one banks and financial institutions, and tier two banking sectors had strong momentum in the past 12 months.
Big players in the digital signage systems
The market of digital signage systems is moving from having outsourced software, hardware and services components to having internally managed and lower cost cloud based systems.
The telecommunication providers may be the biggest players in this sector because of their capacity in controlling and monitoring all network elements like carriage, applications and mobile.
This can be used with the technology trends like touch interactivity and mobile marketing.
Whether it be a digital signage business or handmade signs in Sydney, the market is booming in Australia, and it looks like nothing is stopping it.