Global Digital Signage Market

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: 213 | Figures: 79

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 several manufacturers. One of the most frequently used methods in digital signage 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 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 

  • 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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FAQs

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). 

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. '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'

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.

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.

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Global Digital Signage Market

Report ID: SQMIG45I2066

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