Digital Signage Market (By Offering: Hardware, Software, Service; By Product: Single Screen, Display, Video wall, Kiosk; By Location: Indoor, Outdoor; By End-User: Retail, Education, Healthcare, Corporate, Stadiums, Government, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027

The global digital signage market size is anticipated to reach around US$ 38,200 Mn by 2027 and is anticipated to grow at a CAGR of around 8% in terms of revenue during the forecast period 2020 to 2027.

In order to maintain high-quality material, the digital signages rely primarily on hardware components. The conventional small and micro displays with large wall-size LED and LCD displays used in many sectors were replaced by these displays. The programs are designed to improve the consumer experience and extract maximum efficiencies from marketing messages by the retailer. They are available for applications.

Market Insights

Rising spending of government towards development of technologies and education sectors, changing preference of the users decrease in cost of displays are the factors that are boosting the growth of digital signage market. The growing infrastructure and demand for in-store digital signage on consumer awareness, expanded usage on the airports and the rise in customer sensibility are the other factors contributing to market growth. Technological advances in this sector such as near area networking systems, mobile technology and many other innovations in digital signage have created new possibilities. However, the factors that are likely to hamper the market growth are high initial capital cost, power issues, destruction of the displays, and lack of standardization.

Growing adoption of smart signage

Smart digital signage market exceeds customers' conventional viewing experience by real advertising, encouraging marketers to offer interesting experiences that connect, educate and entertain users, resulting in a high degree of satisfaction from the user. Smart signage is also a means of advertising amongst big masses and is one of the most challenging and growing forums for information displays. Thanks to the use-friendly systems built over a period of time through R&D, numerous implementations in different industries have been promoted.

Report coverage

The market research study on “Digital Signage Market (By Offering: Hardware, Software, Service; By Product: Single Screen, Display, Video wall, Kiosk; By Location: Indoor, Outdoor; By End-User: Retail, Education, Healthcare, Corporate, Stadiums, Government, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers detailed insights on the global digital signage market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report provides insights on global digital signage market are offering hardware, product, location, end-user and major geographic regions. The digital signage market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.

The global digital signage market is expected to rise tremendously in North America during the forecast period. The reduction in mass-media like broadcasting and printing created a market in the area for digital signage solutions. In addition, the growing reliability of advertising by the adoption of digital signage has prompted the deployment in North America of digital signage technologies. In India, China and other emerging countries, Asia Pacific is expected to pose a CAGR exponential by adopting digital signage solutions. Growing developments in retail, infrastructure, and industry are expected to create enormous demand in APAC for digital signage. In terms of low costs of electronic signage services, Asia Pacific is considered one of the major markets for digital signage solutions.

Emerging Display Technology such as microLED and Quantum Dots

Display vendors are exploring innovation through the advancement of display technologies which could give them a strategic advantage over others. The new developments are Quantum dots and micro LED displays with upgraded features in contrast to normal LCD and OLED displays. These displays are designed upon conventional LCD display systems to maximize performance, quality and efficiency through the inclusion in an LCD or OLED matrix of a quantum dot and micro LED sheet. A coating of quantum dots is superimposed on a blue LED backlight in quantum points, which absorbs all the blue light seen on the screen while providing the energy required to fluoresce the colors of red or green quantum dots. This results in a more vibrant display and a wider range of colors, which are necessary for modern Ultra-HD displays. Such new technologies that are embedded into the show system provide lucrative growth prospects for the digital signage market.

Key Players

Major players included in this report Omnivex Corporation, Hewlett-Packard Company, Cisco Systems Inc., NEC Display Solutions Ltd., 3M Co., Panasonic Corporation, Samsung Electronics Co. Ltd., Winmate Communication Inc., Adflow Networks, Keywest Technology, Brightsign Llc., Broadsign International Inc., LG Display Co. Ltd., AU Optronics, Ucview Media Inc., Onelan Ltd. and others.

The global digital signage market is segmented as below:

Market Segmentation

Digital Signage Market By Offering

• Hardware
• Software
• Service

Digital Signage Market By Product

• Single Screen
• Display
• Video wall
• Kiosk

Digital Signage Market By Location

• Indoor
• Outdoor

Digital Signage Market By End-User

• Retail, Education
• Healthcare
• Corporate
• Stadiums
• Government
• Others

Digital Signage Market By Geography

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa