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Digital Signage Market

Global Digital Signage Market Size, Share, Trends, Report: By Component: Hardware, Software, Service; By Type: Kiosks, Video Screen, Digital Poster, Transparent LED Screen, Video Walls, Others; By Technology: LCD, Projection, LED, Media Players; By Location: Outdoor, Indoor; By Application; Regional Analysis; Competitive Landscape; 2024-2032

Global Digital Signage Market Outlook

The global digital signage market size reached approximately USD 26.45 billion in 2023. The market is projected to grow at a CAGR of 7.9% between 2024 and 2032, reaching a value of around USD 52.37 billion by 2032.

 

Key Takeaways

  • The market players are harnessing AI technology to automatically update digital signage content based on customer behaviour and location.
  • Businesses are offering an immersive experience to customers through augmented and virtual reality.
  • North America maintains its dominance in the digital signage market as it is a leading technological hub.

 

Digital signage refers to digital displays based on technologies such as LCD, OLED, and LED that are used for showing information, advertising, and other relevant content using digital signs and symbols. These digital displays are generally found at malls, retail stores, museums, hotels, and restaurants, among other public spaces. Some of the common components of digital signage include digital displays, content management systems, and media players, among others.

 

The digital signage market growth is driven by increasing technological advancements in display products and the rise in commercial demand for advertisements and content creation. Rapidly developing infrastructure in emerging countries, growing demand for 4K and 8K displays, travel information, tourism, and education are also developing the market forward. Traditional stores are evolving into smart stores to better maintain their customer base and attract new customers using digital signage and smart signage. Furthermore, public transport, malls, and new commercial buildings, especially due to rapid urbanisation in developing countries, are creating new opportunities for public signage.

 

Global Digital Signage Market

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Key Trends and Developments

Emergence of cloud-based signage; the growing popularity of interactive signage; the feature of live streaming; and the surge in holographic ads are the major trends impacting the digital signage market expansion

 

Date Company Announcement/ Partnership
Feb 2024 Red Dot Digital Media Red Dot Digital Media, a digital signage company, established a partnership with Mark Davidson, an underwater filmmaker, to offer digital attractions to tourists in Catalina Island, United States.
Feb 2024 MeinBodenbelag MeinBodenbelag, a floor covering provider, announced that it is leveraging nsign.tv software for 20 signage displays in its store.
Feb 2024 Danavation Technologies Corp. Danavation Technologies Corp. announced its partnership with UBI Communications for the integration of its technology, Digital Smart Labels™, into UBI’s digital signage solutions to enhance its capabilities.
Oct 2023 RedMedia RedMedia, a retail media company, is deploying the Samsung VXT Content Management System (CMS) to offer dynamic displays in its retail stores.

 

 

Trends Impact
Emergence of cloud-based signage Cloud-based signage offers businesses scalability, cost-effective pricing, and a reliable service.
Growing popularity of interactive signage Businesses such as food establishments are readily integrating interactive features into their digital displays to offer a streamlined ordering process.
Feature of live streaming Live streaming allows businesses to have real-time interaction with their customers as well as the feature to share the latest updates and news.
Holographic ads are gaining prominence Holographic ads offer an immersive and engaging way of advertising to businesses by offering a futuristic approach.

 

Digital Signage Market Trends

One of the prominent market trends is the growing usage of interactive digital signage to offer an immersive experience to customers. For example, touchscreen signage can allow customers to access the menu at food establishments and gain more information about any dish. Meanwhile, voice-enabled signage lets the users pass voice commands to gather information. This feature is extremely viable when users have their hands full and cannot interact with their hands.

 

The increasing focus on cross-industry collaboration to enhance the existing product range is expected to aid the market growth. In February 2024, Danavation Technologies Corp. formed a partnership with UBI Communications to enhance the content management and dynamic display properties of UBIs digital signage solutions by leveraging Digital Smart Labels™ technology by Danavation.

 

Global Digital Signage Market by Application

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Market Segmentation

“Digital Signage Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

 

Market Breakup Categories
Component Hardware, Software, Service
Type Kiosks, Video Screen, Digital Poster, Transparent LED Screen, Video Walls, Others
Technology LCD, Projection, LED, Media Players
Location Outdoor, Indoor
Application Entertainment, Education, Healthcare, Transport, Hospitality, Retail, BFSI, Others
Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa

 

Software accounts for a major digital signage market share due to its growing implementation in several end-use sectors for the efficient management of displayed content

The software segment of the digital signage market is anticipated to witness a considerable growth in the coming years due to the rising implementation of content management systems (CMS) for the efficient management of displayed content. These software solutions allow businesses proper control of digital signage content anytime, anywhere without any physical intervention. Furthermore, software integrated with analytics solutions offers businesses valuable insights into the engagement level of the content and aids them in making valuable decisions.

 

Also, digital signage contains several hardware components such as display and media players, among others. The market players are readily making innovations in LEDs and LCDs, enhancing their quality. These efforts are expected to enhance the overall visual appeal of display panels so they can garner the attention of more customers.

 

The retail sector maintains its dominance in the market due to the rising usage of digital signage for boosting customer engagement

The digital signage market is aided by the growing usage of digital signage in the retail sector. Retailers are increasingly leveraging digital signage over traditional signage as it gathers more customer attention comparatively. These signages also allow retailers to display the latest updates regarding in-store offers and products as well as leverage the latest trends for efficient marketing purposes.

 

The transportation sector is also expected to hold a substantial share of the market in the forecast period due to the growing usage of digital signage for advertisement purposes at airports, railway stations, and bus depots, among others. These signages can also be found on public transport such as buses, metros, and cabs for advertisement purposes.

 

Global Digital Signage Market by Region

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Competitive Landscape

The market players are increasing their collaboration efforts and are focusing on upgrading their existing range

 

Company Founded Headquarters Products
Sony Corporation 1946 Tokyo, Japan Consumer electronics, cameras, and video games
LG Electronics, Inc 1958 Seoul, South Korea Home appliances, consumer electronics, and mobile communications
Samsung Electronics Co. Ltd 1969 Suwon, South Korea Consumer electronics, semiconductors, and hardware
Panasonic Corporation 1918 Osaka, Japan Consumer electronics, home appliances, and automotive systems

 

Other major players in the digital signage market include NEC Corporation and Planar Systems, Inc., among others. These market players are harnessing advanced technologies such as AI, virtual reality, and 3D ads to stay ahead of the competition.

 

Digital Signage Market Analysis by Region

The market for digital signage is expected to witness a significant growth in the Asia Pacific region. The high growth rate in this region is primarily attributed to the rapid infrastructure development, expanding retail sector, and increasing commercial usage of digital signage, mainly for advertisement and marketing. Moreover, there is a growing focus on the establishment of smart cities in several developing economies in the region, which creates new opportunities for digital signage in the public sector.

 

The North America digital signage market is characterised by the presence of leading market players who are harnessing the latest technologies to enhance the efficiency of their products. The region is also a growing hub of technological innovations, which include upgradation in software and innovations in hardware technology.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Component
  • Type
  • Technology
  • Location
  • Application
  • Region
Breakup by Component
  • Hardware
  • Software
  • Service
Breakup by Type
  • Kiosks
  • Video Screen
  • Digital Poster
  • Transparent LED Screen
  • Video Walls
  • Others
Breakup by Technology
  • LCD
  • Projection
  • LED
  • Media Players
Breakup by Location
  • Outdoor
  • Indoor
Breakup by Application
  • Entertainment
  • Education
  • Healthcare 
  • Transport
  • Hospitality
  • Retail
  • BFSI
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • NEC Corporation
  • LG Electronics, Inc.
  • Samsung Electronics Co. Ltd
  • Panasonic Corporation
  • Sony Corporation
  • Planar Systems, Inc.
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Digital Signage Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Digital Signage Historical Market (2018-2023) 
    8.3    Global Digital Signage Market Forecast (2024-2032)
    8.4    Global Digital Signage Market by Component
        8.4.1    Hardware
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Software
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Service
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
    8.5    Global Digital Signage Market by Type
        8.5.1    Kiosks
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Video Screen
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Digital Poster
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Transparent LED Screen
            8.5.4.1    Historical Trend (2018-2023)
            8.5.4.2    Forecast Trend (2024-2032)
        8.5.5    Video Walls
            8.5.5.1    Historical Trend (2018-2023)
            8.5.5.2    Forecast Trend (2024-2032)
        8.5.6    Others
    8.6    Global Digital Signage Market by Technology
        8.6.1    LCD
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Projection
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    LED
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Media Players
            8.6.4.1    Historical Trend (2018-2023)
            8.6.4.2    Forecast Trend (2024-2032)
    8.7    Global Digital Signage Market by Location
        8.7.1    Outdoor
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Indoor
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
    8.8    Global Digital Signage Market by Application
        8.8.1    Entertainment 
            8.8.1.1    Historical Trend (2018-2023)
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Education
            8.8.2.1    Historical Trend (2018-2023)
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Healthcare 
            8.8.3.1    Historical Trend (2018-2023)
            8.8.3.2    Forecast Trend (2024-2032)
        8.8.4    Transport
            8.8.4.1    Historical Trend (2018-2023)
            8.8.4.2    Forecast Trend (2024-2032)
        8.8.5    Hospitality
            8.8.5.1    Historical Trend (2018-2023)
            8.8.5.2    Forecast Trend (2024-2032)
        8.8.6    Retail
            8.8.6.1    Historical Trend (2018-2023)
            8.8.6.2    Forecast Trend (2024-2032)
        8.8.7    BFSI
            8.8.7.1    Historical Trend (2018-2023)
            8.8.7.2    Forecast Trend (2024-2032)
        8.8.8    Others
    8.9    Global Digital Signage Market by Region
        8.9.1    North America
            8.9.1.1    Historical Trend (2018-2023) 
            8.9.1.2    Forecast Trend (2024-2032)
        8.9.2    Europe
            8.9.2.1    Historical Trend (2018-2023) 
            8.9.2.2    Forecast Trend (2024-2032)
        8.9.3    Asia Pacific
            8.9.3.1    Historical Trend (2018-2023) 
            8.9.3.2    Forecast Trend (2024-2032)
        8.9.4    Latin America
            8.9.4.1    Historical Trend (2018-2023) 
            8.9.4.2    Forecast Trend (2024-2032)
        8.9.5    Middle East and Africa
            8.9.5.1    Historical Trend (2018-2023) 
            8.9.5.2    Forecast Trend (2024-2032) 
9    North America Digital Signage Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Digital Signage Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Digital Signage Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Digital Signage Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Digital  Signage Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    NEC Corporation
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    LG Electronics, Inc.
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Samsung Electronics Co. Ltd
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Panasonic Corporation
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Sony Corporation
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Planar Systems, Inc. 
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7    Others
17    Key Trends and Developments in the Market

List of Key Figures and Tables

1.    Global Digital Signage Market: Key Industry Highlights, 2018 and 2032
2.    Global Digital Signage Historical Market: Breakup by Type (USD Billion), 2018-2023
3.    Global Digital Signage Market Forecast: Breakup by Type (USD Billion), 2024-2032
4.    Global Digital Signage Historical Market: Breakup by Technology (USD Billion), 2018-2023
5.    Global Digital Signage Market Forecast: Breakup by Technology (USD Billion), 2024-2032
6.    Global Digital Signage Historical Market: Breakup by Component (USD Billion), 2018-2023
7.    Global Digital Signage Market Forecast: Breakup by Component (USD Billion), 2024-2032
8.    Global Digital Signage Historical Market: Breakup by Location (USD Billion), 2018-2023
9.    Global Digital Signage Market Forecast: Breakup by Location (USD Billion), 2024-2032
10.    Global Digital Signage Historical Market: Breakup by Application (USD Billion), 2018-2023
11.    Global Digital Signage Market Forecast: Breakup by Application (USD Billion), 2024-2032
12.    Global Digital Signage Historical Market: Breakup by Region (USD Billion), 2018-2023
13.    Global Digital Signage Market Forecast: Breakup by Region (USD Billion), 2024-2032
14.    North America Digital Signage Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    North America Digital Signage Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Europe Digital Signage Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Europe Digital Signage Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Asia Pacific Digital Signage Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Asia Pacific Digital Signage Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Latin America Digital Signage Historical Market: Breakup by Country (USD Billion), 2018-2023
21.    Latin America Digital Signage Market Forecast: Breakup by Country (USD Billion), 2024-2032
22.    Middle East and Africa Digital Signage Historical Market: Breakup by Country (USD Billion), 2018-2023
23.    Middle East and Africa Digital Signage Market Forecast: Breakup by Country (USD Billion), 2024-2032
24.    Global Digital Signage Market Structure

Key Questions Answered in the Report

In 2023, the global digital signage market attained a value of nearly USD 26.45 billion.

The market is projected to grow at a CAGR of 7.9% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 52.37 billion by 2032.

The market is being driven by the growing developments in infrastructure, increasing commercial usage of digital signage, rising technological advancements, surge in commercial demand for advertisements and content creation, and rapid urbanisation.

The demand for 4K and 8K displays and increasing space in retail are the key trends propelling the market's growth.

The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The various components in the market are hardware, software, and service.

Kiosks, video screen, digital poster, transparent LED screen, and video walls, among others are the types of digital signages in the market.

The various technologies in the market include LCD, projection, LED, and media players.

The major locations in the market are outdoor and indoor.

The different applications include entertainment, education, healthcare, transport, hospitality, retail, and BFSI, among others.

The major players in the market are NEC Corporation, LG Electronics, Inc., Samsung Electronics Co. Ltd, Panasonic Corporation, Sony Corporation, and Planar Systems, Inc., among others.

Analyst Review

The global digital signage market attained a value of nearly USD 26.45 billion in 2023, driven by the rising demand for 4K and 8K displays. Aided by growing developments in infrastructure and increasing commercial usage of digital signage, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 7.9%.

 

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. The market is divided on the basis of component into hardware, software, and service. Kiosks, video screen, digital poster, transparent LED screen, and video walls, among others are the types in the market. The market is segregated on the basis of technology into LCD, projection, LED, and media players. In terms of location, the market is segmented into outdoor and indoor. The applications include entertainment, education, healthcare, transport, hospitality, retail, and BFSI, among others. The major regional markets for digital signage market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include NEC Corporation, LG Electronics, Inc., Samsung Electronics Co. Ltd, Panasonic Corporation, Sony Corporation, and Planar Systems, Inc., among others.

 

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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