Samsung and LG See Extra Revenue from Burgeoning Digital Signage Employment
Korean electronics makers Samsung Electronics and LG Electronics are moving onto take on the niche market of digital signage, the so-called fourth screen in everyday life after TV, cinema and mobile phones.
According to global market research firm Grand View Research on Tuesday, worldwide sales of digital signage displays are estimated to nearly double from $18.6 in 2018 to $31.7 billion in 2025.
Digital signage has emerged as a new platform for marketing and information services, becoming commonplace from shopping malls to banks.
Samsung Electronics and LG Electronics dominate more than a third of the global market. According to global industry research company IHS Markit’s data, Samsung Electronics claimed the top spot in the commercial display market last year with a market share of 25.8 percent (in terms of shipments). The company has maintained its title for 10 consecutive years from 2009. In the first quarter of this year, Samsung Electronics remained unshaken with a 26.9 percent market share on track for another champion year. It was followed by LG Electronics and Japan’s NEC whose market share was 12.5 percent and 6.9 percent, respectively.
Samsung Electronics plans to cement its market position with a focus on a wide-ranging portfolio of products, while pushing for the spread of The Wall, a microLED technology-based modular display designed for commercial and home cinema markets, and the Onyx LED cinema screen.
LG Electronics is going all out to expand its footprint and earnings by increasing products optimized to various industrial sectors around its market-leading OLED displays.
Source : pulsenews.co.kr