The digital signage market shipments rose 15.9 percent year over year and 10 percent quarter on quarter to more than 870,000 units in the second quarter of 2018.
Analyst firm IDC expects the market for digital signage will grow at 10 percent in 2019 and 12 percent year over year in 2020.
Samsung and GoodView enhanced their market share in the digital signage space globally. LG, NEC and Foxconn lost their share.
The fastest growing regions for digital signage are Latin America and Asia/Pacific (excluding Japan) with sequential growth rates of 135.6 percent and 21.9 percent.
IDC forecasts digital signage unit shipments will reach 3.5 million in 2018.
Growth in the shipments of digital signage in the second quarter of 2019 will be 11.9 percent, IDC said.
Shipments of digital signage forecast to touch more than 4.4 million units as businesses adopt this display technology for advertising and general information purposes.
Samsung remained in the top position for the 22nd consecutive quarter with market share of 33.9 percent on shipments of nearly 300,000 units.
LG has shipped more than 74,000 units, resulting in 8.5 percent market share. Despite 36.7 percent increase in Latin America and 5.7 percent in Asia Pacific excluding Japan, LG posted 8.3 percent decline.
Goodview moved into the number three position with 30.4 percent growth on nearly 70,000 units shipped.
NEC dropped to the number four position with more than 64,000 units shipped. NEC posted 5.4 percent decline, despite annual growth gains in both Japan (28.3 percent) and Central & Eastern Europe (8.1 percent).
Foxconn rounded out the Top 5 with 6.0 percent market share. Foxconn achieved gains in the four top regions.