Global Digital Signage market revenue to reach US$ 30 Mn by 2028: Ken Research
Global Digital Signage Market By Screen Size
The Global Digital Signage market is segmented by Screen Size into Below 32 inches, 32 to 52 Inches and More than 52 Inches.
In terms of the screen size of the signage, the Below 32 Inches segment is estimated to occupy the largest share of the market. However, the 32 to 52 inches segment is expected to witness the fastest CAGR in the forecast period of 2022-2028.
The market share of the below 32 inches category stems from the fact that it is convenient to put up in a range of locations. Since the Indoor segment drives the market, smaller installations find wider use at small-sized retail shops.
However, adoption of the larger screen-size displays is expected to grow owing to their use in the corporate sector, healthcare industry, and transport facilities.
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Global Digital Signage Market By Application
The Global Digital Signage market is segmented by Application into Retail, Hospitality, Entertainment, Stadiums & Playgrounds, Corporate, Banking, Healthcare, Education, Transport and Others.
The Entertainment segment is estimated to account for the largest share of the market in 2022. However, many other application segments, including Healthcare and Retail are also expected to emerge as significant stakeholders in the industry.
The advancement in technology, especially those achieved in display clarity and immersive quality, is aiding the rise of digital signage.
Global Digital Signage Market By Geography
The Global Digital Signage market is segmented by geography into North America, Europe, Asia- pacific and LAMEA.
Region-wise, North America is estimated to account for the largest share of the market in 2022.
However, during the forecast period of 2022-2028, The North American region is expected to account for the largest share as it has a well-formed supply chain of digital signage providers, backed by continuous innovations in the electronics and semiconductor industry.
Awareness about the efficient use of digital signage is increasing in the Asia Pacific market. Growth in the retail industry, travel, and hospitality sectors is also leading to increased adoption, especially in two of the largest consumer economies of India and China.
Competition Scenario In Global Digital Signage Market
The Global Digital Signage market is extremely competitive comprising nearly 1,000 players, including globally diversified players, regional players, and country-niche players having expertise in addressing specific display and installation needs relating to one or multiple specific sub-segments.
Large global players constitute ~5% of the market in terms of the number of competitors, while regional players hold the largest share. Some of the major players in the market include ADFLOW Networks, Bright Sign LLC, Cisco Systems, Inc., Intel Corp, LG Electronics, NEC Display Solutions, Omnivex Corporation, Panasonic Corporation, Samsung, Scala Digital Signage, etc.
What Is The Expected Future Outlook For The Overall Global Digital Signage Market Across The Globe?
The Global Digital Signage market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
The Global Digital Signage market is 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. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.
With the increasing acquisition and emergence of new products, the Global Digital Signage market is changing rapidly. For instance, In the second week of September 2022, Samsung Electronics Co., Ltd. launched two new series of The Wall at the Samsung Display Tech Summit 2022. The launch was in the Southeast Asia and Oceania (SEAO) Region. The Wall series of products comprise Samsung’s advanced Micro LED solutions. Samsung believes its Micro LED technology will offer an efficient and immersive viewing experience in a high-resolution, large-screen format.
In June 2022, LG Business Solutions USA launched 54-inch bezel-free LED Bloc displays. These displays come with no dividing lines. The LSAC series direct-view LED (dvLED) helps integrate and leverage existing VESA mounting hardware from previous LCD installations.
The Global Digital Signage market is expected to grow at a steady pace during the forecast period. Multiple factors will drive growth in this segment, including its targeting efficiency and the ability to generate actionable insights about consumer behavior. Technological advancements happening in the industry will also help it capture new markets, especially in application segments relating to healthcare, retail, and travel. The market is extremely competitive with ~1000 players but is dominated by country-niche players.
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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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