What is the global market size of Digital Signage Market?

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).

Global Digital Signage Market Size, Share, Growth Analysis, By Type(Video Walls, Video Screen), By Component(Hardware, Software), By Technology(LCD, LED), By Location(In-store and Out-store), By Content Category(Broadcast (News, Weather), By Application(Retail, Hospitality) - Industry Forecast 2024-2031

Report ID: SQMIG45I2066 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 181 | Figures: 79

Global Digital Signage Market Dynamics

Digital Signage Market Drivers

Gestural recognition has been incorporated increasingly.

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 a number of manufacturers. One of the most frequently used methods in its interfaces is gesture recognition technology.

Increasing demand for 4K displays

In view of the fact of 4K digital signage displays with embedded software and a media player offer customers with an affordable Ultra HD digital signage solution, demand is expected to grow.

Digital Signage Market Restraints

High costs of Digital Signage Systems

Traffic increases along with urban density. A smarter approach is required to manage urbanization as well as 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 it 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 system is typically very high.

Global Digital Signage Market Report Snapshots

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Global Digital Signage Market size was valued at USD 15.98 billion in 2019 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).

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. 'Samsung Electronics Co., Ltd.', 'LG Electronics Inc.', 'NEC Display Solutions, Ltd.', 'Panasonic Corporation', 'Sharp Corporation', 'Sony Corporation', 'Planar Systems Inc. (a Leyard Company)', 'Barco NV', 'Scala, Inc. (a STRATACACHE Company)', 'AU Optronics Corp.', 'BrightSign LLC', 'Daktronics Inc.', 'DynaScan Technology, Inc.', 'E Ink Holdings, Inc.', 'Elo Touch Solutions Inc.', 'Intuilab SA', 'Leyard Optoelectronic Co., Ltd. (a Leyard Company)', 'Navori SA', 'Ooh!Media Limited', 'SpinetiX SA'

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 a number of manufacturers. One of the most frequently used methods in its interfaces is gesture recognition technology.

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.

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.

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Global Digital Signage Market Dynamics

Global Digital Signage Market Report Snapshots

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