Global Digital Signage Market Size, Trends & Growth Opportunity, By Offering (Hardware, Software), By Application, By Product (Standalone Display, Video Wall), By Installation Location, By Display Size (Below 32 inch, between 32 and 52 inches, above 52 inch), By Region and Forecast till 2027.
Digital Signage Market
Global Digital Signage Market was valued at US$ 15,475.36 Mn in 2020, estimated to reach US$ 30,650.35 Mn in 2027, with a CAGR of 9.32% from 2021-2027.
Digital signage is a sub-segment of electronic signage. Digital displays use technologies such as LCD, LED, projection and e-paper to display digital images, video, web pages, weather data, restaurant menus, or text.
Market Drivers: Growing adoption of digital signage in commercial applications
The Global Digital Signage Market is significantly growing, due to the fact that number of digital signage are being installed in commercial places such as hospitality centers, retail stores, and other public spaces for advertising, as well as displaying product information, directions, instructions, entertaining content, etc. The use of digital signage in commercial applications enables businesses to efficiently & effectively reach and interact with their customers, thereby attracting new business opportunities for them by increasing brand awareness among consumers, improving the operating efficiency of businesses, promoting new products in the market, catching the attention of passersby, as well as enhancing customer experiences.
Market Challenges: Prevailing trends of online advertising & broadcasting further triggered by COVID-19
The increase in expenditure by leading retailers & product suppliers on online and broadcast advertisements is expected to hamper the global digital signage market growth over the forecast period. The growing adoption of online advertising and broadcasting methods has increased after the spread of the Coronavirus. Furthermore, deployment of widescreen alternatives such as projectors & screen less displays as well as lack of standard policy and power problems hinder the digital signage market growth to a certain extent.
Market Opportunities: Growing demand for the digitized promotion
Growing demand for the digitized promotion of products & services to attract the attention of the target audience effectively. Moreover, the demand for digitized sign display with the embedded software and media player is rising as it offers customers an affordable Ultra HD digital signage solution, which is anticipated to drive the market further.
Digital Signage helps to build a connection between the person/ organization displaying the content & the person reading content. Due to the improved flexibility of the hardware & software, the adoption of digital signage gaining pace.
Impact of COVID-19 on Digital Signage Market
The spread of COVID- 19 not only affected the operations of the various digital signage products manufacturing companies, but also impacted the businesses of their suppliers and distributers across the globe.
The fail in export shipments as well as slow domestic demand for digital signage and display products as compared to pre COVID-19 levels is also anticipated to negatively impact and slightly stagnate the demand for digital signage in short term.
However, the condition is expected to recover in the year 2021, which may restore the growth trajectory of the global digital signage market.
Global Digital Signage Market, By Offering
In offering the market is segmented into software, hardware and services segment. Hardware segment is expected to dominate the market due to its increasing demand in the application areas.
Global Digital Signage Market, By Application
By Application segment the market is segmented into institutional, infrastructure, commercial, and industrial. In the Application segment commercial applications is expected to dominate the Digital Signage Market throughout the forecast period, and is estimated to account for the largest market share in 2020.
Global Digital Signage Market, By Product
By Product the market is segmented into standalone display and video walls. By Product, video wall is expected to dominate the Digital Signage Market throughout the forecast period, and is estimated to account for the largest market share in 2020.
Global Digital Signage Market, By Installation Location
The digital signage market is segmented into outdoor and indoor segment by Installation Location. By Installation Location, Indoor location is expected to dominate the market during the forecast period.
Global Digital Signage Market, By Display Size
The display segment is bifurcated into Below 32 inch, Between 32 and 52 inches, and Above 52 inch. Among the display size segment, the Above 52 inch segment is expected to drive the market demand for Digital Signage market, and would grow at a CAGR of 9.41% during the forecast period.
Global Digital Signage Market, By Region
The market in North America is projected to dominate the Digital Signage market due to rise in demand for Digital Signage's in the region.
Furthermore, APAC is anticipated to witness noteworthy growth primarily due to the rising scope of product application in retail stores, corporate offices, hospitals, and hotels.
In August 2021: Panasonic Corporation had launched complete Digital Signage Solution ecosystem of products which includes customized products, software & services. The company claims the solution streamlines set up & maintenance and creates flexibility in workflows like controlling content locally/remotely.
In July 2021: Sony Corporation (provider of AV products and solutions, including 4K HDR Professional BRAVIA displays, 3LCD projectors, LED displays, remote cameras, and AI-based audio tools) had entered into Collaborative Alliances program. As per information provided by Sony Corporation, joining the program will enable company to offer more capabilities by providing integrated solutions through alignment with other companies in the AV industry.
Samsung Electronics, LG Electronics, Leyard Optoelectronic, Sharp Corporation, Sony Corporation, BARCO, Panasonic Corporation, Shanghai Goodview Electronics, AU Optronics, BrightSign LLC, etc.
Global Digital Signage Market was valued at US$ 15,475.36 Mn in 2020, estimated to reach US$ 30,650.35 Mn in 2027, with a CAGR of 9.32% from 2021-2027.
Digital signage is a sub-segment of electronic signage. Digital displays use technologies such as LCD, LED, projection and e-paper to display digital images, video, web pages, weather data, restaurant menus, or text.
Market Drivers: Growing adoption of digital signage in commercial applications
The Global Digital Signage Market is significantly growing, due to the fact that number of digital signage are being installed in commercial places such as hospitality centers, retail stores, and other public spaces for advertising, as well as displaying product information, directions, instructions, entertaining content, etc. The use of digital signage in commercial applications enables businesses to efficiently & effectively reach and interact with their customers, thereby attracting new business opportunities for them by increasing brand awareness among consumers, improving the operating efficiency of businesses, promoting new products in the market, catching the attention of passersby, as well as enhancing customer experiences.
Market Challenges: Prevailing trends of online advertising & broadcasting further triggered by COVID-19
The increase in expenditure by leading retailers & product suppliers on online and broadcast advertisements is expected to hamper the global digital signage market growth over the forecast period. The growing adoption of online advertising and broadcasting methods has increased after the spread of the Coronavirus. Furthermore, deployment of widescreen alternatives such as projectors & screen less displays as well as lack of standard policy and power problems hinder the digital signage market growth to a certain extent.
Market Opportunities: Growing demand for the digitized promotion
Growing demand for the digitized promotion of products & services to attract the attention of the target audience effectively. Moreover, the demand for digitized sign display with the embedded software and media player is rising as it offers customers an affordable Ultra HD digital signage solution, which is anticipated to drive the market further.
Digital Signage helps to build a connection between the person/ organization displaying the content & the person reading content. Due to the improved flexibility of the hardware & software, the adoption of digital signage gaining pace.
Impact of COVID-19 on Digital Signage Market
The spread of COVID- 19 not only affected the operations of the various digital signage products manufacturing companies, but also impacted the businesses of their suppliers and distributers across the globe.
The fail in export shipments as well as slow domestic demand for digital signage and display products as compared to pre COVID-19 levels is also anticipated to negatively impact and slightly stagnate the demand for digital signage in short term.
However, the condition is expected to recover in the year 2021, which may restore the growth trajectory of the global digital signage market.
Global Digital Signage Market, By Offering
In offering the market is segmented into software, hardware and services segment. Hardware segment is expected to dominate the market due to its increasing demand in the application areas.
Global Digital Signage Market, By Application
By Application segment the market is segmented into institutional, infrastructure, commercial, and industrial. In the Application segment commercial applications is expected to dominate the Digital Signage Market throughout the forecast period, and is estimated to account for the largest market share in 2020.
Global Digital Signage Market, By Product
By Product the market is segmented into standalone display and video walls. By Product, video wall is expected to dominate the Digital Signage Market throughout the forecast period, and is estimated to account for the largest market share in 2020.
Global Digital Signage Market, By Installation Location
The digital signage market is segmented into outdoor and indoor segment by Installation Location. By Installation Location, Indoor location is expected to dominate the market during the forecast period.
Global Digital Signage Market, By Display Size
The display segment is bifurcated into Below 32 inch, Between 32 and 52 inches, and Above 52 inch. Among the display size segment, the Above 52 inch segment is expected to drive the market demand for Digital Signage market, and would grow at a CAGR of 9.41% during the forecast period.
Global Digital Signage Market, By Region
The market in North America is projected to dominate the Digital Signage market due to rise in demand for Digital Signage's in the region.
Furthermore, APAC is anticipated to witness noteworthy growth primarily due to the rising scope of product application in retail stores, corporate offices, hospitals, and hotels.
Recent Developments:
In August 2021: Panasonic Corporation had launched complete Digital Signage Solution ecosystem of products which includes customized products, software & services. The company claims the solution streamlines set up & maintenance and creates flexibility in workflows like controlling content locally/remotely.
In July 2021: Sony Corporation (provider of AV products and solutions, including 4K HDR Professional BRAVIA displays, 3LCD projectors, LED displays, remote cameras, and AI-based audio tools) had entered into Collaborative Alliances program. As per information provided by Sony Corporation, joining the program will enable company to offer more capabilities by providing integrated solutions through alignment with other companies in the AV industry.
Key Players
Samsung Electronics, LG Electronics, Leyard Optoelectronic, Sharp Corporation, Sony Corporation, BARCO, Panasonic Corporation, Shanghai Goodview Electronics, AU Optronics, BrightSign LLC, etc.
Market Taxonomy
By Offering
- Hardware
- Software
By Application
- Institutional
- Infrastructure
- Commercial
- Industrial
By Product
- Standalone Display
- Video Wall
By Installation location
- Indoor
- Outdoor
By Display Size
- Below 32 inch
- Between 32 and 52 inches
- Above 52 inch
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Key Questions Addressed by the Report
- What are the Key Opportunities in Global Digital Signage Market?
- What will be the growth rate from 2020 to 2027?
- Which segment/region will have highest growth?
- What are the factors that will impact/drive the Market?
- What is the competitive Landscape in the Industry?
- What is the role of key players in the value chain?
Frequently Asked Questions about the Digital Signage Market
What is the estimated value of the Digital Signage Market?
What is the growth rate of the Digital Signage Market?
What is the forecasted size of the Digital Signage Market?
Who are the key companies in the Digital Signage Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | October 2021 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value ( USD | $ 15475.36 Million |
| Forecasted Market Value ( USD | $ 30650.35 Million |
| Compound Annual Growth Rate | 10.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
Table of Contents
1 Introduction
2 Research Methodology
4 Global Digital Signage Market Outlook
5 Global Digital Signage Market, By Offering
6 Global Digital Signage Market, By Application
7 Global Digital Signage Market, By Product
8 Global Digital Signage Market, By Installation Location
9 Global Digital Signage Market, By Display Size
10 Global Digital Signage Market, By Region
11 North America Digital Signage Analysis and Forecast (2021 - 2027)
12 Europe Digital Signage Market Analysis and Forecast (2021 - 2027)
13 Asia Pacific Digital Signage Market Analysis and Forecast (2021 - 2027)
14 Latin America Digital Signage Market Analysis and Forecast (2021 - 2027)
15 Middle East Digital Signage Market Analysis and Forecast (2021 - 2027)
16 Competitive Analysis
17 Company Profiles
Companies Mentioned
- Samsung Electronics
- LG Electronics
- Leyard Optoelectronic
- Sharp Corporation
- Sony Corporation
- BARCO
- Panasonic Corporation
- Shanghai Goodview Electronics
- AU Optronics
- BrightSign LLC
