USD 15.98 billion
Report ID: SQMIG45I2066 | Region: Global | Published Date: February, 2023 | Pages: 242 | Tables: 181 | Figures: 79
Global Digital Signage Market size was valued at USD 15.98 billion in 2021 and is poised to grow from USD 17.77 billion in 2022 to USD 41.55 billion by 2030, growing at a CAGR of 11.2% in the forecast period (2023-2030).
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. In order 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. It 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 as a result of the growing demand for brands to provide viewers with necessary and valuable information in large public spaces in order to increase their target audience. Pictures, motion, and strong, colorful lettering can help in maintaining 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.
Global Market Size
USD 15.98 billion
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Global Digital Signage market is segmented on the basis of Type, Component, Technology, Location, Content Category, Application, and region. By Type, the Digital Signage Market is segmented into Video Walls, Video Screen, Transparent LED Screen, Digital Poster, Kiosks, Others. By Component, the Digital Signage Market is segmented into Hardware, Software, Service. By Technology, the Digital Signage Market is segmented into LCD, LED, OLED, Projection. By Location, the Digital Signage Market is segmented into In-store, and Out-store. By Content Category, the Digital Signage Market is segmented into Broadcast (News, Weather, Sports, Others), Non-Broadcast. By Application, the Digital Signage Market is segmented into Retail, Hospitality, Entertainment, Stadiums & Playgrounds, Corporate, Banking, Healthcare, Education, Transportation. The Digital Signage Market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America as according region.
Digital Signage Market Analysis by Type
The global market has been further segmented into video walls, video screens, transparent LED screens, digital posters, kiosks, and other items on the basis of kinds. More than 27.0% of global revenue in 2021 is generated by the video walls segment, which held the greatest market share. Shopping centers and other public spaces already have a sizable market share for video walls and screens. By 2028, the kiosk category is expected to hold the biggest revenue share. In academic institutions and the retail sector, kiosks are commonly utilized for sharing information and advertising.
The segment for transparent LED screens, on the other hand, is expected to have the fastest growth 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. In the next six years, all of these factors are anticipated to significantly boost demand for transparent LED screens, supporting the segment's expansion.
Digital Signage Market Analysis by Location
The in-store location segment is anticipated to have the largest revenue share of more than 73% in 2021, based on the location. The high share is the result of growing product demand in retail establishments. This segment will continue growing over the course of the forecast period due to the huge development of retail outlets all over the world. The growth of out-store location segment is anticipated to be fueled by the boom in the transportation sector.
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North America is anticipated to be have significant growth and hold the largest market share during the forecast period. 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 the 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. Additionally, a number of municipal governments are attempting 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, can help 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.
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Digital Signage Market Drivers
Gestural recognition has been incorporated increasingly.
Increasing demand for 4K displays
Digital Signage Market Restraints
High costs of Digital Signage Systems
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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
Digital Signage Market Recent Developments
One of the main factors driving the market's growth is the mixture of rapid digitization and the rising desire for powerful advertising tools. Additionally, 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 generally, 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 advertisement and marketing spending.
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.
According to our global digital signage market analysis, it 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. 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.
|Market size value in 2021||USD 15.98 billion|
|Market size value in 2030||USD 17.77 billion|
|Forecast Unit (Value)||USD Billion|
|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)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global 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 Global 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.
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