USD 15.98 billion
Digital Signage Market Size, Share, Growth Analysis, By Offering(Displays, Media Players, Projectors, Software, Services), Product Type(Video Walls, Kiosks, Menu Boards, Billboards, Others), Display Size, Installation Location, Enterprise Size, Industry, and Region - Industry Forecast 2024-2031
Report ID:
SQMIG45I2066 |
Region:
Global |
Published Date: June, 2024
Pages:
242
|Tables:
181
|Figures:
79
Digital Signage Market Insights
Digital Signage Market size was valued at USD 15.98 Billion in 2022 and is poised to grow from USD 17.77 Billion in 2023 to USD 41.55 Billion by 2031, growing at a CAGR of 11.2% in the forecast period (2024-2031).
Digital signage is a type of electronic signage, which is widely utilized in a range of public spaces, such museums, stores, restaurants, and transportation and business infrastructure, among others. These displays can show videos, weather data, text, or restaurant menus using technologies including LED, LCD, and projection. To display information, entertainment, advertising, and goods to the target audiences, they are managed centrally and are individually addressable. As an outcome, organizations can use content creation and distribution using digital signage to effectively reach a wider audience.
The compatibility and interoperability problems that frequently exist between media players and screens are eliminated by digital signage. Brands are increasingly aware of their global presence, and promoting the features and benefits of their products and services is a primary concern, so the presence of such displays is essential. Particularly in developing nations, there has been constant increase in public infrastructure, transport networks, and the construction of commercial buildings, which has significantly aided industry growth. Digital signage is used, for instance, in the public transportation industry to inform customers of their present location and to advertise a wide range of products and services.
Display technologies such microLED displays, OLED displays, and electronic paper displays are getting more and more common in a wide range of industries, that will inspire companies to develop trying to cut digital display products. Companies are rushing quickly to put these displays into place due to the growing demand for brands to provide viewers with necessary and valuable information in large public spaces to increase their target audience. Pictures, motion, and strong, colorful lettering can help in maintain users' interest for a longer duration of time.
US Digital Signage Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Video Walls
Fastest Growth
Video Walls
Growth Rate
11.2% CAGR
Global Digital Signage Market ($ Bn)
Country Share for North America Region (%)
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Digital Signage Market Segmental Analysis
Digital Signage market is segmented based on Offering, Display Size, Product Type, Installation Location, Application, Enterprise Size, and region. Based on Offering, the market is segmented into Hardware (Display {Technology - [LCD, LED, OLED, Projection], Resolution - [8K, 4K, Full High Definition (FHD), High Definition (HD), Lower than HD], brightness -[0–500 nits, 501–1,000 nits, 1,001–2,000 nits, 2,001–3,000 nits, More than 3,000 nits}, Media Players, Projectors, Others), Software (Edge Server Software, Web Content Management System, Others), Services (Installation Services, Maintenance & Support Services, Consulting & Other Services). Based on Display Size, the market is segmented into Less than 32 Inches, Between 32 and 52 Inches, more than 52 Inches. Based on Product Type, the market is segmented into Video Walls, Standalone Displays (Kiosks {Interactive kiosks, Automated teller machines (ATMs), Self-service kiosks, Vending kiosks}, Menu Boards {Interactive menu boards, non-interactive menu boards}, Billboards, General-purpose Information Displays, System-on-chip (SOC) Displays). Based on Installation Location, the market is segmented into Indoor, and Outdoor. Based on Application, the market is segmented into Commercial (Retail, Corporate Communications, Healthcare, Hospitality & Restaurants, Government), Infrastructural (Transportation & Public Places, Sports & Entertainment), Institutional (Banking, Financial Services and Insurance (BFSI), Education), Industrial. Based on Enterprise Size, the market is segmented into Small Office/Home Office (SOHO), Small & Medium-sized Enterprises (SMEs), Large Enterprises (LEs). Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Digital Signage Market Analysis by Product Type
The beautiful segment is the largest segment in the digital signage market and holds a share of 25.8%, which held the greatest market share. Shopping centers and other public spaces already have a sizable market share for video walls and screens. By 2030, the kiosk category is expected to hold the biggest revenue share and become the largest segment global. In academic institutions and the retail sector, kiosks are commonly utilized for sharing information and advertising.
The standalone displays, on the other hand, is the fastest growing segment in the market rate over the forecast period. High resolution & transparent LED panels can provide transparency levels greater than 80%. Additionally, they are sufficiently energy-efficient, which lowers energy consumption and optimizes user overhead costs. The standalone segment is easy to install and has a simple structure with less hardware and software parts. In the next six years, these factors are expected to greatly boost demand for transparent LED screens, supporting the segment's expansion.
Digital Signage Market Analysis by Offering
The hardware segment is the largest segment of the digital signage market by offering and holds a share of about 56.9%. It comprises displays, components required for manufacturing digital panels, banners and others. The hardware segment has a vast industry side contributing towards its dominance in the market by offering. The consumers are moving toward innovative display technologies such as 1080p, 4K and 8K display which is surging the demand for the hardware components during the forecasted year. Advancement in 3D technology is also contributing to the market's growth by making displays such as glasses free 3D displays, which leads to the growth of the segment.
The software segment, on the other hand, is the fastest growing segment in the digital signage market by offering. Technological advancements such as Internet of Things, growing need for real time content management, and the rising usage of smart signage products are driving the growth of the digital signage market. The rise in the purchase of digital signage software is contributing towards the growth. The development in the system-on-chip displays is also driving the market. Furthermore, purchases from the customers and upgrade of software licenses are contributing the market growth after digital signage software.
Global Digital Signage Market By Offering
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Digital Signage Market Regional Insights
North America is the largest region in the digital signage market. The region's demand for technology solutions has indeed been sparked by the loss of mass media like broadcast and print. As digital billboards are widely used to advertise products and services and since the retail industry is growing, the market size estimations for digital signage systems in North America show a significant growth rate. Previously expensive equipment is now more commonly accessible thanks to technological advancements in display, communication, and monitoring. Due to the superior technology and research techniques in use by digital signage companies, the United States is the biggest contributor to the global market for advertising on digital signage. Additionally, a rise in sales driven by the fast adoption of digital signs significantly aided in price reductions. Also, several municipal governments are trying to implement the idea of smart cities; such developments support sales growth in North America.
The fastest-growing region is Asia-Pacific. It is anticipated that a growing number of countries, including Japan, Singapore, and India, are helping to grow the Asia-Pacific digital signage market for brand promotion. Many advanced countries have moved mainly from traditional information analysis methods to a more modern approach. This explains why this market is one of the most promising because consumers who are heavily targeted by technology advertising understand it. India is expected to hold the largest market share among all the nations in the region due to its greatest gem and jewelry sector.
Global Digital Signage Market By Region
- Largest
- Fastest
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Digital Signage Market Dynamics
Digital Signage Market Drivers
Gestural Recognition has been Incorporated Increasingly
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Consumers can already interact with the information provided by the media and entertainment companies in a range of different ways due to digital signage vendors. The development of display processors with embedded gesture recognition technology is being explored by several manufacturers. One of the most frequently used methods in digital signage interfaces is gesture recognition technology.
Increasing Demand for 4K Displays
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In view of the fact of 4K digital signage displays with embedded software and a media player offer customers an affordable Ultra HD digital signage solution, demand is expected to grow. These displays provide more clarity and detail which helps in the advertising and promoting the content, therefore contributing towards driving the growth of the digital signage market.
Digital Signage Market Restraints
High costs of Digital Signage Systems
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Traffic increases along with urban density. A smarter approach is required to manage urbanization and the problems brought on by heavy traffic. Digital Signage systems development is one of these approaches. Systems for smart digital signage offer a wealth of data for handling transportation-related challenges. The global market offers a variety of digital signage display kinds. Each sort of digital display, however, has some technical restrictions. Even though digital signage offers many advantages, the sophisticated wayside and transfer station signboard systems are expensive. The cost of installing advanced signage systems typically prevents the utilization on a large scale. Furthermore, the cost of setting up a basic Digital Signage system is typically very high.
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Digital Signage Market Competitive Landscape
The competitive landscape for the digital signage market includes information by competitor. Included information includes an overview of the business, financials, revenue, market potential, investments in R&D, new market initiatives, regional presence, corporate strengths and weaknesses, product launches, product breadth and depth, and application domination. The information above only relates to the companies' market focus on digital signage.
Digital Signage Market Top Player’s Company Profiles
- ADFLOW Networks
- BrightSign, LLC
- Cisco Systems, Inc.
- Intel Corp.
- KeyWest Technology, Inc.
- LG Electronics Inc
- Microsoft Corp.
- NEC Display Solutions
- Omnivex Corp.
- Panasonic Corporation
- SAMSUNG
- Scala Digital Signage
- Winmate Inc.
- Koninklijke Philips N.V.
- Sony Corporation
- Planar Systems
- SHARP CORPORATION
- AU Optronics Corp.
- Goodview
- Winmate Inc.,
- Barco
- ViewSonic Corporation
- STRATACACHE
Digital Signage Market Recent Developments
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In March 2024, LG launched DVLED for virtual production. It includes a range of micro-LED models with genlock technology and has brightness of about 5000 nits and pixel of 0.9mm.
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In January 2024, PPDS will introduce new products such as digital signage, dvLED, software and AI driven.
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In March 2024, BBVA and Cisco entered into a strategic collaboration to accelerate digital transformation.
Digital Signage Key Market Trends
- Rapid Digitization and Growing Desire for Powerful Advertising Tools: The market is growing due to the widespread use of electronic large screen displays in a variety of commercial sectors, including transportation, finance, hospitality, and retail. Digital signages are used in automated teller machines (ATMs) and e-banking services in the financial sector, for instance, to display motion messages, digitalized product promotion, and remote content updating and management. Technology advancements in general, such as the integration of biometric technology with digital signage equipment, are also contributing to the industry's growth. In keeping with this, contemporary product variants include gaze trackers and heat path trackers that pinpoint the location of the most popular consumer areas. This allows businesses to keep tabs on consumer activity and get insightful information. The market is expected to be further fueled by additional factors, including improvements in LCD/LED technology and increasing advertising and marketing spending.
Digital Signage Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
Digital signage is becoming more popular as a result of growing customer demand for clear and comprehensive product information. Additionally, the market is anticipated to expand as more sophisticated technologies, such as single or multiple points of touch and gesture-based displays, are being used. These systems require supervision and computer information management, which can be accessed via signage in a remote place. Hardware segment is having the highest share whereas the software segment is growing at a quick pace. north america is is having the largest market share and Asia Pacific is growing quickly due to advancements in technologies promoting development of the segments. One major trend is the growth in continuous digitalization in the digital signage market. More opportunities in this market are being generated by the development of transport systems, public infrastructure, and new commercial structures, especially in developing nations. All forms of public transit are using digital signage to draw in on-the-go viewers and provide real-time location and context awareness for passenger information and advertising.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 15.98 Billion |
| Market size value in 2031 | USD 41.55 Billion |
| Growth Rate | 11.2% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Digital Signage Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Digital Signage Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Digital Signage Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Digital Signage Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Digital Signage Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Digital Signage Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Digital Signage Market Report Snapshots
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