Market Research Of Global Video Walls Market By Knowledge Sourcing Intelligence
INTRODUCTION
Video walls market is projected to grow at a
CAGR of 7.25% over the projected period to reach US$7.982 billion by 2022, from
US$5.625 billion in 2017. The emerging trend of outdoor events such as music
concerts, political assemblies, and sports events in metropolitan cities is also
boosting the demand for large screens, thereby positively impacting the growth
of the global video walls market. Growing market
competition requires producers to adopt innovating marketing techniques
and pressurizes to change advertisements frequently which is also a major
factor for the high demand for large video wall screens worldwide. Increasing investments in airport infrastructure due to a surge in passenger load and booming tourism industry will escalate the demand for digital signboards at airports. Rising per capita income and improving the standard of living in developing economies such as China, India and Brazil has led to the entrance and expansion of retail and food chains, which, in turn, is bolstering the growth of global video walls market. Market Research is done by the knowledge sourcing industry due to the huge scope with the respective industry.
Sample
view of global video walls market share
Development in Quality of Digital Content
The recent
change in consumer’s preference to LCD TVs from plasma TV and growing demand
for clear and detailed picture quality is driving the demand for
High Definition (HD) Content. This leads to continuous investment in
R&D and focus on improving the quality of digital content. The use of
HD videos in video walls are increasingly gaining popularity owing to its
ability to provide a delightful user experience. The developing quality of
digital content is likely to fuel the growth of video wall market over the
projected period.
Video Walls Market Forecast by Application
Video walls
market has been further segmented as a menu board, billboard, and
others. Billboard held the largest market size in 2016 and will continue
to be the major application segment throughout the forecast period.
Increasing demand for outdoor advertising majorly drives the demand for
billboards globally. Growing social media integration coupled with the need for
live updates and conditional content (weather, temperature) is escalating the
demand for billboards. Infrastructural development in developing countries in
the form of expressways and major roadways will provide the opportunity for the
expansion of the digital billboards market as retailers can advertise their
products by positioning billboards on heavy traffic locations. The market
for the menu board application segment is projected to witness the
fastest growth at the highest CAGR of X.XX% during the forecast period owing to
the increasing number of restaurant chains across the globe.
Sample
view of global video walls market share
Video Walls Market Forecast by End User Industry
Video Walls
market has been further segmented by the end-user industry like education,
communication and technology, media and entertainment, transportation,
healthcare, retail, and others. Retail industry accounted for the largest
share of the global video walls market in 2016 which was X.XX% of the global share
and will continue its dominance with the estimated market size of US$X.XXX
billion by the end of the forecast period. This dominance is attributed to the proliferation of mobile devices, growing internet penetration leading to the
changing consumer shopping patterns. Consumers expect instant access to
information as a result of which they are much more responsive to information
displayed digitally, thereby augmenting the demand for large-screen video walls
from the retail sector across the globe.
Sample
view of global video walls market share
The global video
wall market is highly competitive due to similar offerings
by players in terms of technology and display devices. However, the lack
of substitutes and high industry integration enhances the bargaining power
of suppliers. For instance, Foxconn and Sharp Corporation got into a joint
venture in December 2016 to start an LCD plant in China. The customer base of the video wall is more concentrated on education and government sectors.
Hence, the lack of a fragmented customer base decreases the bargaining power
of suppliers. Low switching costs from one supplier to another further
weakens the position of suppliers.
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