NEW
YORK, May 16, 2024 /PRNewswire/ -- The
global digital signage market size is
estimated to grow by USD 9855.3 mn
from 2024-2028, according to Technavio. The market is estimated to
grow at a CAGR of over 9.95% during the forecast
period.
For more insights on the forecast market size and
historic data (2018 - 2022) - Download
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Application (Retail,
QSR and restaurants, Education, Healthcare, and Others), Component
(Hardware, Software, and Services), and Geography (North America,
APAC, Europe, South America, and Middle East and Africa)
|
Region
Covered
|
North America, APAC,
Europe, South America, and Middle East and Africa
|
Key companies
profiled
|
3M Co., AT and T Inc.,
AUO Corp., BrightSign LLC, Cayin Technology Co. Ltd., Cisco Systems
Inc., Daktronics Inc., Hon Hai Precision Industry Co. Ltd., HP
Inc., Intel Corp., Keywest Technology Inc., Leyard Group, LG Corp.,
Omnivex Corp., Panasonic Holdings Corp., Rokk3r, Samsung
Electronics Co. Ltd., Scala, Sony Group Corp., and YFY
Inc.
|
Key Market Trends Fueling Growth
The digital signage market encompasses various sectors,
including internet users, advertising, large audiences, social
media platforms, apps, retail media, digital gaming environments,
the 3PL market, retail, banking, hospitality, entertainment,
healthcare, and dynamic content delivery. Key technologies driving
this market are real-time updates, targeted messaging, product
promotion, and in-store customer experience. Media used include LED
media boards, digital display panels, video walls, projectors, and
multimedia content. Computerized systems, software, and traditional
static signs are also part of this market, offering location-based
solutions for retail establishments, airports, and other
venues.
Market Challenges
- The e-commerce industry's expansion has led to the rise of
numerous online retailers, some of which have grown into large
organizations. This shift towards online shopping has decreased the
reliance on physical retail stores for consumers. However, the
decline in traditional retail stores could impact the demand for
digital signage equipment, particularly in sectors like
hotels, restaurants, and corporate offices. Technological
advancements, such as near field communication, touch screen
technology, and artificial intelligence, continue to shape the
digital signage market. Additionally, emerging display technologies
like micro-LED and quantum dots, as well as 5G technology and
touchless solutions, are driving growth in this sector. The retail
industry's digitalization and the use of advanced technologies for
personalized content delivery, audience analytics, and real-time
data-driven decision-making are also key factors. Market
consolidation, strategic expansion, partnerships, and
collaborations among digital signage providers are shaping the
competitive landscape.
Research report provides comprehensive data on
impact of trend, driver and challenges - Buy
Report
Segment Overview
This digital signage market report extensively covers market
segmentation by
- Application
- 1.1 Retail
- 1.2 QSR and restaurants
- 1.3 Education
- 1.4 Healthcare
- 1.5 Others
- Component
- 2.1 Hardware
- 2.2 Software
- 2.3 Services
- Geography
- 3.1 North America
- 3.2 APAC
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Retail- The digital signage market
encompasses various applications, notably in the Hospitality and
Food Service sectors, where it enhances customer experience in
Hotels and Restaurants. Corporate offices and Transportation
centers also leverage this technology for wayfinding and
information dissemination. Technological developments, such as Near
Field Communication and Touch Screen Technology, have
revolutionized digital signage, offering Single screen displays and
Kiosks for Public Transports. The Educational sector benefits from
cost-effective solutions, while Government offices adopt advanced
technologies like Artificial Intelligence and Machine Learning for
audience analytics and real-time data-driven decision-making. Rapid
digitalization in the Retail Industry necessitates personalized
content delivery using 5G technology and touchless &
interactive solutions. Market consolidation, strategic expansion,
and partnerships among digital signage providers continue, with
Electronic giants investing in Large screen displays and emerging
display technologies like Micro-LED and Quantum dots. Online
advertisement and broadcast further expand the market's reach.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
The Digital Signage Market encompasses various solutions,
including LED media boards and digital display panels, that cater
to the communication needs of diverse sectors. These solutions
offer real-time content updates, making them an excellent
alternative to traditional static signs. Video walls and projectors
are other integral components of this market, delivering multimedia
content through computerized systems and software. Technological
developments have led to the emergence of innovative displays, such
as micro-LED and large screen technologies, enhancing the customer
experience. Government offices and the educational sector are
significant end-users, leveraging these solutions for effective
communication. Remote management and communication platforms ensure
seamless hardware service and maintenance. Power problems can be
mitigated through advancements in display technology, and
screenless displays are gaining popularity as energy-efficient
alternatives. The cost of displays continues to decrease, making
digital signage an increasingly attractive investment for
businesses.
Market Research Overview
The Digital Signage Market encompasses a wide range of
technologies and applications that enable businesses and
organizations to display real-time information, advertising, and
content on digital screens. These displays can be found in various
industries, including retail, healthcare, education,
transportation, and hospitality. Digital signage systems offer
numerous benefits, such as increased engagement, improved customer
experience, and real-time messaging capabilities. They can be
managed centrally, allowing for easy content updates and
scheduling. Additionally, digital signage can be integrated with
other technologies, such as Wi-Fi, Bluetooth, and GPS, to provide
location-based and personalized content. The market for digital
signage is expected to grow significantly in the coming years due
to the increasing demand for interactive and dynamic displays.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Retail
- QSR And Restaurants
- Education
- Healthcare
- Others
- Component
-
- Hardware
- Software
- Services
- Geography
-
- North America
- APAC
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio