Digital Signage Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

The Global Digital Signage Market was valued at USD 20.5 billion in 2023 and is projected to grow at a CAGR of over 7.5% from 2024 to 2032. A key driver of this market is the continuous evolution of display technologies. Innovations like Organic Light Emitting Diode (OLED) and microLED displays not only provide superior color accuracy and contrast ratios but also boast thinner profiles, greatly enhancing the visual allure of digital signage. Furthermore, the shift towards 4K and 8K resolutions enables ultra-high-definition content, resulting in more immersive and impactful advertising experiences.

Even with declining costs for digital signage components, the upfront investment for large-scale installations remains significant. This encompasses not just hardware and software, but also installation, customization, and ongoing maintenance. Such expenses can be daunting for smaller businesses, potentially hindering their market penetration. Additionally, regular updates, technical support, and unforeseen repairs further inflate the total cost of ownership, posing a notable barrier to adoption.

As the digital signage industry burgeons, it is propelled by technological advancements and a rising appetite for dynamic visual communication. Technologies like OLED, microLED, and high-resolution displays have not only amplified the allure of digital signage but have also cemented its status as a go-to choice for businesses across diverse sectors. A case in point: In March 2023, LG Electronics unveiled its inaugural 4K digital signage projector, the LG ProBeam BU70QGA. Boasting 7,000 ANSI lumens brightness and 4K UHD resolution, it is versatile enough for varied settings.

The overall industry is classified into display type, component, location, display size, content type, application, end use r, and region.

The market segments based on application include retail, healthcare, hospitality, transportation, education, corporate, banking, and more. By 2032, the retail segment is projected to surpass a value of USD 13.2 billion. In retail, digital signage plays a pivotal role in boosting customer engagement and sales through targeted promotions and interactive content. Tools like digital price tags and interactive kiosks are strategically employed to captivate and retain customers.

The digital signage market categorizes end users into small businesses, medium businesses, and large enterprises. Notably, the medium businesses segment is emerging as the fastest growing, with a projected CAGR of over 9% from 2024 to 2032. For small businesses, digital signage serves as a budget-friendly avenue to elevate customer engagement and spotlight products or services

North America led the global digital signage arena, commanding a share exceeding 38% in 2023. The region's dominance stems from its swift adoption and innovation, bolstered by the presence of major industry players and a robust demand for cutting-edge advertising solutions. North America's vigorous retail landscape, combined with its embrace of digital signage in sectors like transportation, healthcare, and corporate, has also catalyzed market growth.

Product Code: 392

Chapter 1 Methodology and Scope

1.1 Market scope and definition
1.2 Base estimates and calculations
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 360º synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Vendor matrix
3.3 Profit margin analysis
3.4 Technology and innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.7 Regulatory landscape
3.8 Impact forces
- 3.8.1 Growth drivers
  - 3.8.1.1 Rising demand for supply chain transparency
  - 3.8.1.2 Advancements in display technology
  - 3.8.1.3 Increasing demand for interactive content
  - 3.8.1.4 Growth of smart cities and infrastructure development
  - 3.8.1.5 Cost reduction and improved ROI
  - 3.8.1.6 Increasing adoption in the retail sector
- 3.8.2 Industry pitfalls and challenges
  - 3.8.2.1 High initial investment and maintenance costs
  - 3.8.2.2 Content management complexity
3.9 Growth potential analysis
3.10 Porter's analysis
- 3.10.1 Supplier power
- 3.10.2 Buyer power
- 3.10.3 Threat of new entrants
- 3.10.4 Threat of substitutes
- 3.10.5 Industry rivalry
3.11 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates and Forecast, By Display Type, 2021 - 2032 (USD million)

5.1 Key trends
5.2 LCD
5.3 LED
5.4 OLED
5.5 Others

Chapter 6 Market Estimates and Forecast, By Component, 2021 - 2032 (USD million)

6.1 Key trends
6.2 Hardware
6.3 Software
6.4 Services

Chapter 7 Market Estimates and Forecast, By Location, 2021 - 2032 (USD million)

7.1 Key trends
7.2 Indoor
7.3 Outdoor

Chapter 8 Market Estimates and Forecast, By Display Size, 2021 - 2032 (USD million)

8.1 Key trends
8.2 Below 32 inches
8.3 32 to 52 inches
8.4 Above 52 inches

Chapter 9 Market Estimates and Forecast, By Content Type, 2021 - 2032 (USD million)

9.1 Key trends
9.2 Static
9.3 Dynamic
9.4 Interactive

Chapter 10 Market Estimates and Forecast, By End-User, 2021 - 2032 (USD million)

10.1 Key trends
10.2 Small Businesses
10.3 Medium Businesses
10.4 Large Enterprises

Chapter 11 Market Estimates and Forecast, By Application, 2021 - 2032 (USD million)

11.1 Key trends
11.2 Retail
11.3 Healthcare
11.4 Hospitality
11.5 Transportation
11.6 Education
11.7 Corporate
11.8 Banking
11.9 Others

Chapter 12 Market Estimates and Forecast, By Region, 2021 - 2032 (USD million)

12.1 Key trends
12.2 North America
- 12.2.1 U.S.
- 12.2.2 Canada
12.3 Europe
- 12.3.1 UK
- 12.3.2 Germany
- 12.3.3 France
- 12.3.4 Italy
- 12.3.5 Spain
- 12.3.6 Rest of Europe
12.4 Asia Pacific
- 12.4.1 China
- 12.4.2 India
- 12.4.3 Japan
- 12.4.4 South Korea
- 12.4.5 ANZ
- 12.4.6 Rest of Asia Pacific
12.5 Latin America
- 12.5.1 Brazil
- 12.5.2 Mexico
- 12.5.3 Rest of Latin America
12.6 MEA
- 12.6.1 UAE
- 12.6.2 South Africa
- 12.6.3 Saudi Arabia
- 12.6.4 Rest of MEA

Chapter 13 Company Profiles

13.1 BrightSign LLC
13.2 Cisco Systems
13.3 Daktronics
13.4 Elo Touch Solutions
13.5 Four Winds Interactive
13.6 LG Electronics
13.7 Mvix Digital Signage
13.8 Navori Labs
13.9 NEC Corporation
13.10 Onelan Limited
13.11 Panasonic Corporation
13.12 Philips Professional Display Solutions
13.13 Planar Systems
13.14 Samsung Electronics
13.15 Scala, Inc.
13.16 Sharp Corporation
13.17 Sony Corporation
13.18 Toshiba Global Commerce Solutions
13.19 ViewSonic Corporation
13.20 Visix, Inc.