This report analyzes the global digital signage market in terms of product types, end-use, and geography. On the basis of product types, the market is segmented into digital signage displays, digital signage media player and projector, and digital signage software among others. Similarly, on the basis of end-use, the market for digital signage is further classified into retail, corporate, transportation, healthcare, banking, and education among others. The geographical distribution of the global digital signage market considered in this study encompasses regional markets such as North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Growing advertising expenditure by businesses coupled with the emergence of advanced, interactive displays with NFC capabilities is the major factor driving adoption of digital signage solutions. In addition, government initiatives and expenditures dedicated towards improving public communication infrastructure are expected to further fuel market momentum during the forecast period 2016 – 2023. These factors are expected to contribute towards a double digit compounded annual growth rate (CAGR) during the forecast period 2023 – 2030.
In the base year of 2021, digital signage displays dominated the global digital signage market in terms of revenue. The trend shall prolong and the segment is presumed to retain its dominant position throughout the forecast period 2023 - 2030. Continual advancements in display technologies (ex LED, OLED, UHD, etc.) is expected to have positive impact on digital signage display sales. However, the segment is estimated to witness declining revenue share, supported by declining display prices and emergence of digital signage software solutions. On the other hand, digital signage software solutions are poised to witness maximum growth during the forecast period 2023 – 2030. The anticipated growth in the software segment can be credited to the need for regular software license updates
In the base year of 2021, commercial applications including retail, healthcare, and corporate among others dominated the global digital signage market in terms of both revenue and unit shipments. Retail is currently the largest revenue-contributing individual end-use segment in the global digital signage market. The segment accounted for over one-third of the global market revenue in 2021. The trend shall prolong and the segment is presumed to retain its dominant position throughout the forecast period. The retail sector, which currently witnesses the highest penetration of digital signage solutions, is a key segment for manufacturers and solution providers. As the technology matures, more numbers of retailers are expected to adopt digital signage solutions for effective customer targeting. In addition, the emergence of advanced, interactive displays with NFC capabilities is further expected to fuel adoption of digital signage solutions among retailers. Other application segments including healthcare and transportation are also expected to witness robust growth during the forecast period 2023 -2030.
North America comprising Canada and the United States is currently the largest digital signage market in terms of both revenue and shipments followed by Europe and Asia Pacific. In the base year of 2021, the region accounted for over one-third of the global market revenue. The region is front runner in display related research and the technology has been witnessing continued penetration, especially as an advertising platform. The trend shall prolong and the region is presumed to remain the largest market throughout the forecast period 2023 – 2030. However, Asia Pacific is expected to witness maximum growth, outpacing North America and Europe during the same period. Evolving digital habits of consumers coupled with the government spending on public communication infrastructure is expected to spur market growth in the region.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Digital Signage market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Product Type
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End-use
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
