Global Digital Signage market expected to record a CAGR of ~7% during the forecast period (2017-2028): Ken Research
What Is The Size Of Global Digital Signage Industry?
Global Digital Signage market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F.
The Digital Signage Market is largely driven by the technological advancements achieved in display tech that make it easier to reach out to the targeted audience in an effective and engrossing way.
The moderately paced yet steady and consistent growth in the digital signage market is majorly attributed to its capacity to reach out to a large audience with a variety of content options, including digital videos, motion pictures, and more. The methods are far more sophisticated than the traditional modes of advertising, equipped with biometrics, and other advanced features, such as gaze tracking and heat paths.
Another factor that has helped the digital signage market to grow is the advancement in display technology. While the major technology components in the market remain LCD, LED, and projection, LED displays, as a standalone category, have advanced a lot with OLED displays, Micro LED displays, and direct-view fine-pixel LED displays. Micro LED displays have gone beyond the capabilities of OLED by removing many of OLED’s inherent drawbacks, such as shorter lifespan, screen burn-in, limited luminosity, etc.
Furthermore, Brands increasingly opting to go for online promotions pose a challenge to the growth potential of the digital signage market. According to the ‘IAB Internet Advertising Revenue Report: Full Year 2021’, Social Media advertising in 2021 was up nearly 40% to US$57.7 billion.
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Global Digital Signage Market By Type
The Global Digital Signage market is segmented by Type into Video Walls, Video Screens, Transparent LED Screens, Digital Posters, Kiosks and Others.
Video walls accounted for the largest segment of the market, type-wise in 2022. In terms of growth, Transparent LED Screens are expected to grow at the fastest pace, till 2028.
The present market share of video walls is bolstered by its presence across shopping malls, public gathering places, galleries, and exhibition centers.
Technological advancements, on the other hand, will drive growth in the transparent LED segment. These are energy-efficient product types with minimal overhead expenditure involved.
Global Digital Signage Market By Component
The Global Digital Signage Market is segmented by Component into Hardware, Software and Services.
Component-wise, hardware is estimated to account for the largest segment of the market in 2022. Advancement in display technologies is expected to help this market – going ahead – to retain its dominance.
A host of advancements are happening in the hardware segment. For instance, the display resolution technology can now handle 1080p, 4K, and 8K displays. It is also possible to host three-dimensional displays without the audience requiring 3D glasses to enjoy them. The fine-pitch LED video walls, capable of 4K and HDR display, are ultra-thin and ultra-light. These video walls are conducive to flat and curved surfaces and can be installed through hanging or stacking. Because of being lightweight and thin, these walls are easy and convenient to transport from one place to another.
Global Digital Signage Market By Technology
The Global Digital Signage market is segmented by Technology into, LCD, LED and Projection.
Technology-wise, the LED segment is accounted for the largest revenue share in the market in 2022.
Advancements in the LED technology segment have been many, including the development of OLED, Micro LED, and direct-view LED displays. Adoption of the LED technology has largely been driven by its high-end display quality and installation-friendly hardware compatibility.
However, many marketers and advertisers also adopt LCD for its budget-friendly features and low production and set-up cost.
Global Digital Signage Market By Location
The Global Digital Signage market is segmented by Location into Indoor and Outdoor.
The indoor segment is estimated to account for the largest market share of the digital signage market, location-wise in 2022.
Indoor or in-store locations are more efficient when it comes to reaching out to a targeted audience group through immersive, high-quality displays.
While the retail sector, including retail shops and shopping malls, is highly adept in deploying digital signage efficiently, banks, corporate offices, and healthcare facilities are also leveraging them for increased traction and seamless delivery of crucial messages and instructions.
Global Digital Signage Market By Content Category
The Global Digital Signage market is segmented by Content Category into Broadcast and Non-Broadcast.
Content Category-wise, the Broadcast segment is expected to emerge as the fastest-growing during the forecast period of 2022-2028.
The broadcast segment comprises a number of sub-segments, such as News, Weather, Sports, and more. Sub-segments like News and Weather are linked with every day public life and the smooth running of businesses and markets at large.
However, the field of sports also deploys digital signage for varied purposes, starting from the seamless running of ticket distribution points to advertising the next event. The corporate sector is also fast realizing the benefits of digital signage to drive their vision and policies better.
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Key Topics Covered in the Report
- Snapshot of the Global Digital Signage Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Digital Signage Market
- Historic Growth of the Overall Global Digital Signage Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Digital Signage Industry
- Overview, Product Offerings, and Strength & Weakness of Key Competitors
- Covid-19 Impact on the Overall Global Digital Signage Market
- Future Market Forecast and Growth Rates of the Total Global Digital Signage Market and by Segments
- Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
- Analysis of the Global Digital Signage Market
- Major Production/Supply and Consumption/Demand Hubs within Each Region
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Region
Notable Emerging Companies Mentioned in the Report
- Raydiant
- ScreenCloud
- Waev
- Comeen
- Sparsa Digital
- NoviSign Digital Signage
- Pickcel
- NEON
- Nanovo
- Intelisa
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Digital Signage Service Providers
- Digital Signage Hardware Manufacturers
- Audiovisual Production Software Companies
- Advertising and Brand Promotion Agencies
- City Municipal Authorities
- Shopping Mall Owners and Chain Retail Businesses
- Transport Companies/ Public Transport Authorities
- Electronics/ Semiconductor Manufacturing Companies
- Out of Home Advertising Companies
- Outdoor Advertising Infrastructure Companies
- Components and Material Suppliers for Digital Signage Equipment
Time Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022E-2028F
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