The UAE digital signage market is pegged to grow at a compound annual growth rate (CAGR) of around 23 per cent over the next four years, said a report ahead of an industry event.
The SGI Dubai 2016, to be held from January 10 to 12, is a one-stop-shop where exhibitors and visitors can interact with sign makers, print and production manufacturers, architects, media agencies, real-estate developers, brand and image consultants.
This growth is being attributed to the surge in retail, travel and tourism and hospitality industries in addition to the fact that government has undertaken key infrastructure expansion initiatives, the report added.
The exhibition serves as a successful platform and caters to the needs of stakeholders and trade visitors' year on year in the signage, digital signage, retail signage solutions, outdoor media, screen and digital printing industries, said the event organisers International Expo Consults (IEC), a part of UAE-based Falak Holding.
"Being the largest exhibition of its kind in the Middle East, SGI Dubai has exhibitors and visitors from across the world who mutually stand to benefit from each other's presence," remarked Abdul Rahman Falaknaz, the chairman of IEC.
An official Dubai Shopping Festival event, SGI Dubai 2015 had welcomed over 400 global exhibitors from across 34 countries and registered over 12,781 trade visitors from 78 countries during the three-day event last year.
Digital signage panels and hitech novel printers worth over Dh220 million ($60 million) will be showcased at the upcoming event.
"Exhibitors will be revealing some of their best kept printing secrets," he stated.
The global digital signage market is expected to touch $20.03 billion by 2020; according to a new study by Grand View Research.
"There has been a sense of revival in the region in a big way post Dubai's Expo 2020 win and we can see the development happening around us at a breakneck speed. The demand within the printing and signage industry has grown tremendously and I am sure the stakeholders in this industry have experienced this growth since the last few years," stated Falaknaz.
According to Smithers Pira report, the printing industry revenues in the Middle East and North Africa (Mena) region is forecast to grow at 7.2 per cent annually. This is likely to touch $26 billion by 2018.
"SGI Dubai is aptly positioned to cater to the demands of the industry and is in sync with the exponential growth that the region is witnessing," he added.