PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1524080
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1524080
The global digital signage market is projected to grow from USD 20.1 billion in 2024 to USD 27.3 billion by 2029, registering a CAGR of 6.3% during the forecast period. Rising adoption of digital signage in commercial applications, increasing need for digital signage in infrastructural applications, growing demand for advanced display technologies such as 4K and 8K displays and constantly evolving technological advancements related to displays are some of the major factors driving the growth of the digital signage market.
Scope of the Report | |
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Years Considered for the Study | 2020-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Billion) |
Segments | By Product, Displays, Resolution, Software, Display Size, Application and Region |
Regions covered | North America, Europe, APAC, RoW |
"The outdoor installation location to dominate the market between 2024 and 2029."
The development and growing usage of displays of various sizes with higher brightness and contrast is a major driver driving the growth of the outdoor digital signage market. Furthermore, significant improvements in display technologies have enabled market players to offer displays with longer product life that are less susceptible to the negative impacts of being outdoors. The rapid development of innovative displays is estimated to drive the market growth of outdoor digital signage.
"The above 52 inches is projected to grow at a significant growth rate during the forecast period."
The above-52-inch segment is projected to expand at the highest CAGR between 2024 and 2029. Technological advancements in digital signage displays, coupled with consequent rise in demand for large displays for both indoor and outdoor applications, are major factors leading to the market growth of over 52 inches. Furthermore, rising urbanization in Asia-Pacific is driving the usage of outdoor digital signage displays for a range of applications. Furthermore, the increased usage of large-format OLED displays for retail and infrastructure applications is a prominent factor driving market expansion in the area.
"Asia Pacific is likely to exhibit highest CAGR in the global digital signage market during the forecast period"
Asia Pacific is projected to expand at the highest CAGR during the forecast period. The growing penetration of technologies such as the Internet of Things (IoT) and other technologies that promote digital transformation across commercial, institutional, infrastructural, and industrial sectors has resulted in a boom in demand for digital signage in the region. Furthermore, significant urbanization and rising disposable incomes among consumers are projected to fuel the digital signage market growth in Asia Pacific..
The major companies in the digital signage market Samsung Electronics Co., Ltd. (South Korea), LG Electronics (South Korea), Sharp NEC Display Solutions, Ltd. (Japan), LEYARD (China), and Sony Group Corporation (Japan) among others.
Research Coverage
The report segments the digital signage market and forecasts its size, by value, based on offering, display size, product type, installation location, application, enterprise size, and region (North America, Europe, Asia Pacific, and the Rest of the World). The report also comprehensively reviews market drivers, restraints, opportunities, and challenges in the digital signage market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.