The global Digital Signage market worth US$ 42.54 billion by 2030, growing at a CAGR of 7.7%
Key factors driving the digital signage market growth is increasing retail space. Growth of the retail sector is attributed to growing urbanization, increasing domestic income as well as growing demand for quality goods.
The global digital signage market has been segmented by different product, application and geography. Further, product segment of the market is bifurcated into hardware, services and software. In 2017, hardware division of the product segment was digital signage market leader, acquiring for approximately 80% of the overall market. Moreover, this particular segment is expected to maintain its dominance over the market over the forecast spell with major digital signage market share. Likewise, application segment of the digital signage market is sub-divided into retail, QSR & restaurants, education and healthcare.
Geographically, digital signage market has been segregated into several key regions covering North America, Europe, Asia-Pacific and Middle East & Africa. North America as well as Europe will be collectively dominating the market in upcoming years as the number of dedicated suppliers of industrial equipment and products are growing constantly. In addition, another factor boosting market in these region is rising demand for digitized display in retail sector at substantial rate.
On the other hand, Asia-Pacific region is likely to take over the markets of Europe by the end of 2025, owing to the rising awareness amongst the populace of the region about importance of the digital signage. Furthermore, countries like China, South Korea and India are proposed to register considerable growth in the region, as a result of the growing applications across retail stores, banks, offices, hospitals as well as hospitality industry. Moreover, intensifying transportation sector in the region is expected to propel the digital signage market growth in future foresee.
Key players operating in the competitive edge of the digital signage market include Microsoft Corporation, Omnivex Corporation, ADFlow Networks, KeyWest Technology Inc., NEC Display Solutions Ltd., Winmate Communication Inc., LG Electronics, Panasonic Corporation and Samsung Electronics. These companies are looking forward to introduce innovative solutions that will likely propel the business by the end of forecast spell. For example, Intel Corporation introduced Open Pluggable Specification (OPS) that enabled standardizing the design of digitized advertising.
Digital Signage Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2030||US$ 42.54 billion|
|Growth Rate||CAGR of 7.7 % during 2022-2030|
|Segment Covered||By Screen Type, By Component, Region.|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||ADFLOW Networks, BrightSign LLC, Cisco Systems Inc., Intel Corp., KeyWest Technology Inc., LG Electronics, Microsoft Corp., NEC Display Solutions, Omnivex Corp., Panasonic Corp., SAMSUNG and Winmate Inc.|
Key segments of global digital signage market include:
- Products Segment
- Application Segment
- QSR & restaurants
- Geographical Segmentation
- North America
- Middle East & Africa