Allied Market Research published a report, titled, “Digital Signage Market by Offering (Hardware, Software, and Service), Product (Single Screen Display, Video Wall, and Kiosk), Location (Indoor and Outdoor), End User (Retail, Education, Healthcare, Corporate, Stadiums, Government, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global digital signage market was valued at $23.6 billion in 2022, and is projected to reach $50.6 billion by 2032, registering a CAGR of 8% from 2023 to 2032.
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Prime determinants of growth
The digital signage market is influenced significantly by factors such as increase in need for vivid and energy-efficient display panels, the swift transition to digital platforms leading to a decline in traditional billboard demand, and a growing market for 4K and Ultra-HD devices. Nonetheless, the adoption of widescreen alternatives such as projectors is anticipated to impede market growth. On the other side, the emergence of advanced display technologies such as micro-LED and quantum dots, coupled with the preference of electronic industry leaders for large screen displays, is expected to present lucrative opportunities for the digital signage market.
COVID-19 Scenario
- The COVID-19 pandemic impacted the digital signage market, causing disruptions in the supply chain and production processes.
- Fluctuating demand and economic uncertainties have influenced market dynamics. Despite challenges, the market is expected to recover gradually with the stabilization of global economic conditions.
The hardware segment to maintain its leadership status throughout the forecast period.
By offering, the hardware segment held the highest market share in 2022, accounting for nearly three-fourths of the global digital signage market revenue and is estimated to maintain its leadership status throughout the forecast period, as it is known for its small size & flexibility, and it is widely used in consumer electronics sector for smartphones, laptops and others.
The kiosk segment to maintain its leadership status throughout the forecast period.
By product, the kiosk segment held the highest market share in 2022, accounting for more than two-fifths of the global digital signage market revenue and is estimated to maintain its leadership status throughout the forecast period. In addition, the kiosk segment is projected to manifest the highest CAGR of 8.99% from 2023 to 2032 owing to an increase in installation of kiosk on public transports and commercial sectors.
The indoor segment to maintain its leadership status throughout the forecast period.
By location, the indoor segment held the highest market share in 2022, accounting for more than half of the global digital signage market revenue and is estimated to maintain its leadership status throughout the forecast period. In addition, the outdoor segment is projected to manifest the highest CAGR of 8.59% from 2023 to 2032.
The others segment to maintain its leadership status throughout the forecast period.
By end user, the other segment which includes real estate, IT, and industrial sector held the highest market share in 2022, accounting for more than one-fifth of the global digital signage market revenue and is estimated to maintain its leadership status throughout the forecast period. Digital signage is widely used in the IT sector for video conferencing, collaborations, and presentations. In addition, these digital screens can display real time information & events, internal corporate news, and meeting time schedules. Large real estate firms use display screens for promotion of their brands and internal communication.
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North America to maintain its dominance by 2032.
By region, North America held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global digital signage market revenue. Middle East and Africa is expected to witness the fastest CAGR of 11.22% from 2023 to 2032, owing to continuous expansion of telecommunication and digital networks, particularly the deployment of 5G technology.
Leading Market Players: –
- NEC Corporation
- Sony Corporation
- LG Electronics
- Samsung Electronics
- Panasonic Corporation
- ViewSonic Corporation
- Volanti Displays
- iSEMC (HHSD)
- Koninklijke Philips N.V.
- Planer System Inc
The report provides a detailed analysis of these key players of the global digital signage market. These players have adopted different strategies such as partnership to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the digital signage market report, current trends, estimations, and dynamics of the digital signage market analysis from 2022 to 2032 to identify the prevailing digital signage market opportunity.
- Market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the digital signage market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global digital signage market overview.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global digital signage market trends, digital signage companies, market segments, application areas, and market growth strategies.
Digital Signage Market Key Segments:
By Product:
- Single Screen Display
- Video wall
- Kiosk
By Offering:
- Hardware
- Software
- Service
By End User:
- Education
- Healthcare
- Corporate
- Stadiums
- Government
- Retail
- Others
By Region:
- North America (U.S., Canada, Mexico)
- Europe (Germany, UK, France, Spain, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
- LAMEA (Brazil, Saudi Arabia, UAE, South Africa, Rest of LAMEA)
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