PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515448
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515448
In-taxi Digital Signage Market size was valued at USD 615.2 Million in 2023, expanding at a CAGR of 5.00% from 2024 to 2032.
The term "in-taxi digital signage" describes the usage of digital screens and displays mounted in cabs for informational, amusing, and advertising purposes. These interactive digital billboards give businesses an engaging way to connect with their target customers while they commute every day. Through the delivery of location-specific and customized material to passengers, in-taxi digital signage maximizes marketers' return on investment while improving passenger engagement. The market for in-taxi digital signage has grown significantly in recent years as a result of consumers' growing desire for personalized and interactive advertising.
In-taxi Digital Signage Market- Market Dynamics
Increasing Number of Premium Taxis Using Entertainment Devices to Propel Market Growth
Nowadays, travelers from both established and developing countries, local and foreign, prefer luxury cars simply for the experience because most of them may not be able to afford them. Due to competitive pricing, several taxi service providers worldwide have begun to include luxury cars in their fleets, increasing the likelihood that visitors may choose to use these vehicles. Additionally, local taxi companies and owners of luxury and exotic vehicles are renting them out to visitors. Western Europe and the United States are leading countries in this trend. Popular brands available are Tesla Model X, Audi, and BMW. The demand for luxury taxis has been rising sharply in the United Arab Emirates, especially in Dubai, a well-liked tourist destination. For instance, Uber launched the Riding with Uber Black service in Dubai in January 2021. This service entails traveling in a luxury taxi fleet that is mainly composed of newer Tesla, Mercedes-Benz, and BMW vehicles. AED 23 is the starting minimum fare.
In-taxi Digital Signage Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 5.00% over the forecast period (2024-2032)
Based on component segmentation, the hardware category was predicted to show maximum market share in the year 2023
Based on vehicle type segmentation, the luxury/premium taxi category was the leading type in 2023
Based on display type segmentation, the LCD category was the leading type in 2023
Based on application segmentation, the entertainment category was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global In-taxi Digital Signage Market is segmented on the basis of Component, Vehicle Type, Display Type, Screen Size, Application, and Region.
The market is divided into three categories based on component: Hardware, Software, and Services. The hardware category dominates the market. Modern multimedia gadgets with state-of-the-art features are propelling the hardware segment's significant expansion in the market. These cutting-edge technologically advanced devices improve the in-taxi experience by providing high-performance CPUs, smooth connectivity, and platform compatibility. For instance, Uno Minda Ltd. released the 9-inch universal Android player WTUNES-649TAACP in the India aftermarket in July 2023. This universal car entertainment device, which has a powerful T5 CPU system, provides seamless wireless interaction with Apple CarPlay and Android Auto.
The market is divided into two categories based on display type: LCD and LED. The LCD category dominates the market and is likely to maintain its dominance during the forecast period. LCD displays are becoming more and more popular in the business due to their adaptability and growing usage. With a solid track record spanning numerous industries, LCDs give advertisers and service providers with a dependable and recognizable option. Because LCDs come in a range of sizes, their versatility allows for a smooth integration into a variety of car models and interior layouts. Because of its versatility and the growing application of LCD technology, it is positioned as the best option for in-taxi digital signage, guaranteeing user acceptability and profitable screen sizes.
In-taxi Digital Signage Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Over the course of the forecast period, North America is anticipated to hold the greatest share of the global market for in-taxi digital signage. The dedication to technology innovation is driving the region's industrial growth. with a great desire to implement cutting-edge technologies. This dedication stimulates new ideas in advertising, leading to the growth and enlargement of sophisticated digital signs screens used in taxis. The industry benefits from a dynamic landscape that caters to the demands of advertisers and tech-savvy consumers in the region as technology advances.
In addition, the in-taxi digital signage market is anticipated to expand at the fastest rate in the world during the projected period in Asia Pacific. The Asia-Pacific area has relatively low labor expenses, which contributes to the overall inexpensive cost of implementing and deploying digital signage systems. Asia-Pacific is now among the potential major markets for digital signage. The Asia-Pacific in-taxi digital signage market has grown significantly as a result of the growing uptake and penetration of digital technologies as well as sophisticated audio-visual systems combined with cutting-edge technologies like artificial intelligence and augmented reality.
Many companies in the fiercely competitive in-taxi digital signage market provide a variety of solutions to cater to the different demands of both taxi operators and advertising. Prominent players in the industry such as TOPAZ Digital, Swipe Technologies, Samsung Electronics, and others, comprise well-established producers of digital signage, ride-hailing services, and startups that specialize in location-based advertising technologies.
January 2023: Octopus Interactive, the largest interactive display network in the country, which is placed in Uber and Lyft cars, was fully acquired by T-Mobile. With the goal of increasing its portfolio of advertising solutions for marketers, T-Mobile's fast-growing marketing solutions subsidiary, Marketing Solutions, made a calculated strategic move.
GLOBAL IN-TAXI DIGITAL SIGNAGE MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
TOPAZ Digital
Swipe Technologies
Samsung Electronics
Digicab Media
NSELED
Shenzhen MercedesTechnology
Hanchen Technology
Others