USD 15.98 billion
Digital Signage Market Size, Share, Growth Analysis, By Offering(Displays, Media Players, Projectors, Software), By Product Type(Video Walls, Kiosks, Menu Boards, Billboards), By Installation Location(Indoor, Outdoor), By Industry(Retail, Corporate, Hospitality, Transportation), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45I2066 |
Region:
Global |
Published Date: October, 2024
Pages:
242
|Tables:
213
|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).
Customers can now interact with information provided by media and entertainment groups in a variety of ways thanks to digital signage vendors. Several companies are considering creating display processors with incorporated gesture detection algorithms. Gesture recognition technology is a popular method for generating digital signage interfaces. Furthermore, the demand is expected to rise as the 4K digital signage screens, with embedded software and a media player, will provide an affordable solution for Ultra HD digital signage to the clients. The clarity and details are more in these displays, which help in advertising or promoting the content and hence boost the digital signage business.
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
Market is segmented into Offering, product type, installation location, industry, and region. Depending on offering, the market is categorized into Displays, Media Players, Projectors, Software, and Services. By product type, it is divided into Video Walls, Kiosks, Menu Boards, Billboards, and Others. According to installation location, the market is bifurcated into Indoor and Outdoor. As per the industry verticals, it is classified into Retail, Corporate, Hospitality, Transportation, Education, Healthcare, Sports and Entertainment, and Others. Region wise, the market is analyzed across North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Industry Verticals
The retail industry had the largest market share of 19.5% in 2023. The retail business is the most frequent user of digital advertisements to market and promote products and services. Competition among retailers due to the industry's diversified product offerings has increased knowledge of effective marketing tactics. Thus, digital posters are widely used in the retail industry since digitized advertising is an effective technique to market a product and get the attention of potential customers.
Transportation is predicted to be the fastest-growing segment, growing at a 9.9% CAGR from 2024 to 2030. Computerized advertisements and posters are utilized at airports, train stations, metro stations, and bus stops. Furthermore, digital displays are commonly used on the road by taxis, public transportation buses, and other vehicles that advertise products and services.
Analysis by Offering
The hardware category is the most extensive in terms of offers in the digital signage market, accounting for around 56.9%. It contains displays, components for creating digital panels, banners, and other products. The hardware segment has a substantial industry component, which adds to its market dominance through products. Consumers are increasingly turning to novel display technologies such as 1080p, 4K, and 8K screens, which is pushing up demand for hardware components throughout the coming year. Advancements in 3D technology are also helping to drive market growth by enabling displays such as glasses-free 3D displays, resulting in sector expansion.
In terms of offers, the software segment in the digital signage industry is growing the fastest. Technological advancements such as the Internet of Things, the growing demand for real-time content management, and the increasing adoption of smart signage solutions are driving the digital signage industry. The increased buying of digital signage software helps to drive the expansion. The development of system-on-chip displays is also accelerating the industry. Furthermore, customer sales and software license upgrades help to drive market growth for digital signage software.
Global Digital Signage Market By Offering
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Digital Signage Market Regional Insights
North America has the largest digital signage market share. The loss of mass media outlets such as broadcast and print has increased the region's desire for technological alternatives. As digital billboards are widely used to advertise products and services, and the retail industry is booming, market size projections for digital signage systems in North America show rapid expansion. Furthermore, several municipal governments are attempting to implement the smart city concept, which is expected to boost sales growth in North America.
Asia-Pacific has the fastest growth rate. It is projected that more countries, including Japan, Singapore, and India, will contribute to the expansion of the Asia-Pacific digital signage market for brand promotion. Many advanced countries have moved away from traditional information analysis approaches in favor of a more modern approach. This explains why this industry is one of the most promising, as clients who are heavily targeted by technological advertising recognize it.
Global Digital Signage Market By Region
- Largest
- Fastest
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Digital Signage Market Dynamics
Drivers
Gestural recognition has become more integrated
- Customers can now interact with information provided by media and entertainment groups in a variety of ways thanks to digital signage vendors. Several companies are considering creating display processors with incorporated gesture detection algorithms. Gesture recognition technology is a popular method for generating digital signage interfaces.
Increasing demand for 4K displays
- Demand is expected to rise as 4K digital signage screens with embedded software and a media player provide consumers with an affordable Ultra HD digital signage solution. These displays offer better clarity and detail, which aids in advertising and promoting content, hence contributing to the growth of the digital signage business.
Restraints
High cost of digital signage systems
- As urban density grows, so does traffic. To manage urbanization and the issues that increased traffic presents, a more advanced strategy is required. One approach is to create digital signage systems. Smart digital signage systems generate a wealth of data for addressing mobility issues. The global market offers a variety of digital signage display options. Each sort of digital display, however, has specific technical constraints.
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Digital Signage Market Competitive Landscape
Leading companies in the digital signage market, such as LG, Samsung, Sony, and others, appear to be focusing more on providing hardware for digital signage, such as media players, video walls, and projectors. For instance, Samsung offers video walls, other hardware, and panels and screens for digital signage. Samsung also offers interactive touch screens, direct-view LED walls, 8K QLED and 4K UHD displays, outdoor and window-facing signs, and more in its digital signage product line. Moreover, LG Electronics offers a range of digital signage products, such as super HD big displays, video walls, LG standard signage, and additional accessories. LG also sells LED signs for indoor and outdoor use. Likewise, many digital signage options are offered by various service providers.
Top Player’s Company Profiles
- Intel Corp.
- LG Electronics Inc
- Microsoft Corp.
- SAMSUNG
- Winmate Inc.
- Sony Corporation
- Scala Digital Signage
- Goodview
- Barco
- STRATACACHE
- SHARP CORPORATION
- Panasonic Corporation
- Omnivex Corp.
- Cisco Systems, Inc.
- ADFLOW Networks
Recent Developments
- In March 2024, LG introduced DVLED for virtual production. It includes several micro-LED variations with genlock technology that have a brightness of around 5000 nits and a pixel size of 0.9mm.
- In January 2024, PPDS will introduce new products including digital signage, dvLED, software, and AI-powered solutions.
- In March 2024, BBVA and Cisco established a strategic agreement to accelerate digital transformation.
Digital Signage Key Market Trends
- The market is growing due to increased use of electronic large screen displays in various industries, including transportation, banking, hospitality, and retail. Automated teller machines (ATMs) and e-banking services in the financial sector use digital signage to display motion messaging, digitalized product advertising, and remote content updating and administration. Technological advancements in general, such as the integration of biometric technology with digital signage equipment, are also helping to propel the industry forward.
Digital Signage Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest Analysis, Digital signage market analysis is becoming increasingly popular as customers seek clear and complete product information. Furthermore, the market is predicted to expand as more advanced technologies, such as single or multiple points of touch and gesture-based displays, are adopted. These systems require supervision and computer information management, which can be accessed by remote signage. The hardware sector has the highest market share, while the software section is quickly growing. North America has the largest market share, while Asia Pacific is rapidly expanding due to technological advancements that encourage segment development.
| 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.
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