The new report by Expert Market Research titled, ‘Global Digital Signage Market Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global digital signage market, assessing the market based on its segments like component, type, technology, segment, application, and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 21 Billion
- Forecast CAGR (2023-2028): 8%
- Forecast Market Size (2026): USD 33 Billion
The growth of global digital signage market is driven by rapid digitalization, and the increasing demand for effective advertisement tools. Additionally, widespread application of electronic displays in various sectors, such as retail, hospitality, entertainment, banking, healthcare, education, and transport, is push the growth further. Additionally, various technological advancements, such as the integration of biometric technology with digital signage products, are acting as other growth-inducing factors. Moreover, rapid urbanisation and development of hypermarkets are expected to push the demand for digital signage market in the forecast period.
Industry Definition and Major Segments
Digital signage are LCD, OLED, and LED based digital displays, used to display information, or advertisements to target audience using content management software. Digital signage finds its application in various sectors such as retail, entertainment, education, transport, hospitality, corporate, and healthcare.
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The market is divided on the basis of component into:
The market is categorized on the basis of type into:
- Video Screen
- Digital Poster
- Transparent LED Screen
- Video Walls
The market is segregated based on technology into:
- Media Players
In terms of location, the market is segmented into:
The market is segregated on the basis of application into:
The regional markets for digital signage include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Regionally, North America and Europe are expected to be the largest shareholder in the global digital signage market. This can be attributed to the presence of key players and rising demand from the retail sector. Meanwhile, Asia Pacific is anticipated to show fast growth owing to the rising awareness for the advantages of digital signage. The developing economies such as, India and China are projected to witness significant growth due to rapid urbanisation and infrastructural development. Further, the expanding application for digital signage in the retail stores, corporate offices, hospitals, and hotels are expected to catalyse the demand. Additionally, inflating disposable income has increased the population in malls and multiplex stores, which in turn aid to the growth.
Key Market Players
The major players in the market are NEC Corporation, LG Electronics, Inc., Samsung Electronics Co. Ltd, Panasonic Corporation, Sony Corporation, Planar Systems, Inc., and a few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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