Digital Signage Market

Global Digital Signage Market Research Report Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2024-2032: By Type (Video Walls, Video Screen, Transparent LED Screen, Digital Poster, Billboards, and Kiosks), By Technology (LCD, LED, OLED, and Projection), By Component (Hardware and Software), By Application (Banking, Hospitality, Entertainment, Corporate, Healthcare, Education, Transport, Retail, Stadiums & Playgrounds), and Region (North America, Europe, Asia-Pacific, and Rest of the World)

ICT & Media | January 2024 | Report ID: EMR00546 | Pages: 301

The global digital signage market was valued at USD 25.18 billion in 2023 and is estimated to reach approximately USD 51.64 billion by 2032, at a CAGR of 8.3% from 2024 to 2032.

Traditional advertising techniques have been revolutionized by the exponential expansion of the digital signage business. It smoothly integrates content distribution across a variety of industries, including retail, hospitality, and healthcare, by utilizing cutting-edge display technologies. With the help of this dynamic platform, businesses can improve customer experiences and brand visibility by interacting with audiences in real-time with bright, customizable content. The market is evolving because to the growing need for visually appealing and dynamic communication tools, which is why digital signage is essential to contemporary marketing tactics.

 

 

DIGITAL SIGNAGE MARKET: REPORT SCOPE & SEGMENTATION

Report Attribute

Details

Estimated Market Value (2023)

25.18 Bn

Projected Market Value (2032)

51.64 Bn

Base Year

2023

Forecast Years

2024 - 2032

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Type, By Technology, By Component, By Application, & Region

Segments Covered

By Type, By Technology, By Component, By Application, & Region

Forecast Units

Value (USD Billion or Million), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2024 to 2032

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and the Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

Global Digital Signage Market Dynamics

Innovation is driven by the need for real-time communication and shifting consumer preferences. Improved flexibility and data-driven insights are offered by cloud-based analytics and solutions. Immersion experiences are promoted by the market's integration of AI, augmented reality, and IoT. Growth is further stimulated by affordable digital screens and a move toward touchless alternatives following the pandemic. The landscape of the digital signage market is always changing due to ongoing advancements in display technologies and content management systems.

 

Global Digital Signage Market Drivers

  • Technological Advancements

Visual quality and energy efficiency are improved by ongoing innovation in display technologies, such as LED, LCD, and projection. When interactive elements like gesture controls and touchscreens are used, user engagement is increased and static displays become dynamic, engaging experiences. Real-time content upgrades and data-driven customization are made possible by these innovations, which also draw attention. Digital signage is becoming more and more adaptable as technology develops, giving companies the chance to remain ahead of contemporary communication trends, fascinate audiences, and convey tailored messages.

  • Internet of Things (IoT) Integration

Real-time data engagement is made possible by linking digital signage to Internet of Things devices, providing dynamic and context-aware content experiences. Smart signage technologies improve interaction and personalization by reacting to audience actions, environmental changes, and outside triggers. With this integration, digital signage can do more than just stand-alone displays; it can now create a networked environment that changes to meet the changing demands of its users. In addition to increasing user engagement, IoT integration creates new opportunities for creative applications and data-driven decision-making across a variety of industries.

 

Restraints:

  • High Initial Setup Costs

For certain firms, the cost of implementing software, integrating hardware, and maintaining it can be unaffordable. This cost barrier could prevent small and medium-sized businesses from using digital signage solutions, which would restrict the market's penetration. For firms that are tight on funds, there are additional expenses associated with continuing maintenance and technical assistance. Reducing initial prices and promoting cost-effective solutions would enable more accessibility to the benefits of digital signage across a variety of sectors, which is why overcoming these financial hurdles is imperative for broader market adoption.

  • Data Security and Privacy Concerns

Concerns regarding security breaches and unauthorized access are raised by the gathering and use of private user data for customized content. Compliance with strict privacy laws becomes essential, and sector stakeholders face difficulties due to the possibility of legal repercussions. To allay these worries, strong cybersecurity protections and open data management procedures must be developed. In industries like healthcare, finance, and government where protecting sensitive data is critical, addressing privacy concerns is essential to building user confidence and guaranteeing widespread adoption.

 

Opportunities:

  • Global Transportation Infrastructure Growth

By offering directional assistance, real-time information, and advertising opportunities, the increasing integration of digital signage in bus terminals, train stations, and airports improves the customer experience. In addition to increasing demand, smart transportation projects provide a platform for better communication and dynamic information distribution. The growing number of transportation hubs and the requirement for effective communication make digital signage an essential tool for improving traveler engagement and optimizing operations.

  • Expanding Applications in Retail

Retailers use digital displays to create engaging consumer experiences, in-store promotions, and dynamic advertising. Digital signage and e-commerce platforms can work together to create a buying experience that is both online and offline. Increased consumer engagement and sales can be attributed to improved in-store communication and targeted content delivery. The adaptability and aesthetic impact of digital signage make it an essential tool for converting conventional retail spaces into interactive, digitally enhanced settings that build brand loyalty and boost sales as retail continues to embrace technology for a competitive edge.

 

Segment Overview

  • By Type

Based on type, the global digital signage market is divided into video walls, video screens, transparent LED screens, digital posters, billboards, and kiosks. The video walls category dominates the market with the largest revenue share in 2023. A grouping of several screens grouped in a pattern or grid to provide a more visually striking screen. frequently utilized for dynamic and immersive displays in control rooms, retail establishments, and event venues.

Individual digital display screens with dynamic content are frequently used for entertainment, advertising, and information sharing in a range of sizes. found in corporate settings, retail establishments, airports, and public transit. Small, independent digital displays that are used for informational and promotional reasons.

  • By Technology

Based on the technology, the global digital signage market is categorized into LCD, LED, OLED, and projection. The LED category leads the global digital signage market with the largest revenue share in 2023. LED technology, offers high brightness, energy efficiency, and vivid colors, as individual pixels or as backlighting. Because of their versatility, LED displays can be utilized in both indoor and outdoor environments. Digital signage frequently uses LCD screens because of their affordability, dependability, and adaptability. OLED screens have excellent color reproduction, flexible design, and high contrast ratios.

  • By Component

Based on components, the global digital signage market is segmented into hardware and software. The hardware segment dominates the digital signage market. The visual output devices that are used to display digital content include LCD, LED, OLED, and projection screens. The actual enclosures or buildings that house and safeguard the display screens. Solutions for mounting guarantee correct installation in a range of settings. Software that keeps track of the digital signage network's performance and offers insights about viewer engagement, system health, and the potency of the content being presented.

  • By Application

Based on application, the global digital signage market is divided into banking, hospitality, entertainment, corporate, healthcare, education, transport, retail, stadiums & playgrounds. The retail category dominates the market with the largest revenue share in 2023. These are frequently utilized for product promotions, advertising, and improving in-store shopping. In retail environments, interactive displays, video walls, and shelf-edge screens are common examples of digital signage. Stadiums & playgrounds are used for fan interaction, event information, and advertising in outdoor recreation spaces, sports stadiums, and arenas. During live events, digital signage improves the overall spectator experience.

Healthcare is utilized for health information display, wayfinding, and patient communication. Digital signage in healthcare institutions gives visitors and staff vital information while also enhancing the patient experience.

 

Global Digital Signage Market Overview by Region

The global digital signage market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World. North America emerged as the leading region, capturing the largest market share in 2023. North America's strong technological foundation, high rates of digital adoption, and developed advertising sector have made it the market leader in digital signage. The region's supremacy is attributed to its active retail sector, significant deployment in transportation hubs, and broad use of digital displays in business environments. Developed economies, like the US and Canada, are major investors in cutting-edge digital signage technologies.

Throughout the forecast period, Asia-Pacific is anticipated to post a significant CAGR. The retail industry is seeing growth, infrastructural investments are rising, and urbanization is happening quickly. Demand for digital signage solutions across a range of industries, including retail, hotel, and transportation, is rising in nations like China, India, and Japan. The growing middle class in the area and technological developments encourage broad adoption.

 

 

Global Digital Signage Market Competitive Landscape

In the global digital signage market, a few major players exert significant market dominance and have established a strong regional presence. These leading companies remain committed to continuous research and development endeavors and actively engage in strategic growth initiatives, including product development, launches, joint ventures, and partnerships. By pursuing these strategies, these companies aim to strengthen their market position, expand their customer base, and capture a substantial share of the market.

Some of the prominent players in the global digital signage market include,

  • ADFLOW Networks
  • BrightSign, LLC
  • Cisco Systems, Inc.
  • Intel Corporation
  • KeyWest Technology, Inc.
  • LG Electronics
  • Microsoft Corporation
  • NEC Display Solutions
  • Omnivex Corporation
  • Panasonic Corporation
  • SAMSUNG
  • Scala
  • Winmate Inc., and various others.

 

Global Digital Signage Market Recent Developments

  • In September 2023, introducing two versions, P1.68 and P2.1, as part of its digital signage series, Samsung introduced 'The Wall for Virtual Production' in Europe. With features like a curvature range of up to 5,800R for a more realistic field of view, genlock for seamless signal alignment, and Virtual Production Management (VPM) software for effective screen management and high picture quality in virtual production environments, these ultra-large LED walls, designed for virtual content creation, offer enhanced visual effects, reduced production time and costs.
  • In February 2023, An outdoor display series that will increase visibility for digital drive-thru menus, storefront displays, smart city applications, and bus shelter advertising has been announced by Winamte Inc. Improved light transmission and picture clarity together with steady, drift-free operation were what the business was hoping to deliver.

 

Scope of the Global Digital Signage Market Report

Digital Signage Market Report Segmentation

ATTRIBUTE

DETAILS

By Type

  • Video Walls
  • Video Screen
  • Transparent LED Screen
  • Digital Poster
  • Billboards
  • Kiosks

By Technology

  • LCD
  • LED
  • OLED
  • Projection

 

By Component

  • Hardware
  • Software

By Application

  • Banking
  • Hospitality
  • Entertainment
  • Corporate
  • Healthcare
  • Education
  • Transport
  • Retail
  • Stadiums & Playgrounds

By Geography

  • North America (USA, and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request

Pricing

  • Available upon request

 

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

  • Global Digital Signage Market Size and Forecast: To identify and estimate the market size for the global digital signage market segmented by type, by technology, by component, by application, region and by value (in U.S. dollars). Also, to understand the consumption/ demand created by consumers of digital signage between 2019 and 2032.
  • Market Landscape and Trends: To identify and infer the drivers, restraints, opportunities, and challenges for the global digital signage market
  • Market Influencing Factors: To find out the factors which are affecting the sales of digital signage among consumers
  • Impact of COVID-19: To identify and understand the various factors involved in the global digital signage market affected by the pandemic
  • Company Profiling: To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Intended Audience

  • Business Executives and Decision Makers
  • Technology Providers and Manufacturers
  • Retailers and Merchandisers
  • Hospitality Industry Professionals
  • Healthcare Professionals
  • Government Officials and Urban Planners

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

On the basis of Geography, The digital signage market is classified into North America, Europe, Asia Pacific, and the Rest of the world.
According to digital signage market research, the market is expected to grow at a CAGR of ~8.3% over the coming years.
Asia-Pacific is expected to register the highest CAGR during 2024 - 2032.
North America held the largest share in 2023.
The major players operating in the global digital signage market include ADFLOW Networks, BrightSign, LLC, Cisco Systems, Inc., Intel Corporation, KeyWest Technology, Inc., LG Electronics, Microsoft Corporation, NEC Display Solutions, Omnivex Corporation, Panasonic Corporation, SAMSUNG, Scala, Winmate Inc., and various others.