0
2020
Digital Signage Market

Digital Signage Market

by Offering (Hardware, Software, and Service), Product (Single Screen Display, Video wall, and Kiosk) and Location (Indoor and Outdoor): Global Opportunity Analysis and Industry Forecast, 2019-2026
Update Available On-Demand

Report Code: A00875
Pages: 299
Jan 2020 | 22880 Views
Author(s) : Avinash Savekar & Asavari Patil
Tables: 144
Charts: 84
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Digital Signage Market Outlook - 2026

The global digital signage market size was valued at $17.23 billion in 2018, and is projected to reach $32.12 billion by 2026, growing at a CAGR of 8.1% from 2019 to 2026. Digital signage or dynamic signage is an electronic display that advertises contents, broadcast data, television programming, and other contents. Digital signs make use of various technologies including LED and LCD. They are found in both private institutions and public places such as retail outlets, restaurants, and corporate environment. 

Digital signage depends majorly on hardware components to ensure the delivery of high-quality content. These displays have replaced the traditional small and micro-display screens with large wall-sized LED and LCD displays, used across various industries. They are designed for applications that require the vendors to engage their customers/audiences with its wider viewing angle and to extract maximum effectiveness from the marketing messages. 

Digital Signage Market

In the current business scenario, it is crucial to employ efficient systems for advertising, owing to the development of numerous user engagement devices and applications. Electronic signage is a cost-effective medium of promoting and branding any product or service; this advantage drives the market for electronic signage.

Decrease in cost of displays and improved customer experience are that factors that drive the digital signage market worldwide. In addition, development of government bodies as well as fast growing educational sector contribute toward the growth of the market. Technological developments including near field communication are expected to create greater opportunities. Advent of touch screen technology is expected to open new avenues.

Rise in demand for bright and power-efficient display panels and rapid digitalization and decline in demand for traditional billboards are the factors that drive the growth of the digital signage market trends. However, deployment of widescreen alternatives such as projectors and screenless displays and lack of standard policy and power problems hamper the digital signage market growth to a certain extent. Furthermore, emerging display technology such as microLED and quantum dots and increase in preference of electronic giants toward large-screen displays offer lucrative opportunities for the market in the country.

Segment Overview

The digital signage market is segmented on the basis of offering, product, location, end user, and region. By offering, the market is categorized into hardware, software, and services. 

Digital Signage Market
By Offering

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Hardware would exhibit the highest CAGR of 8.4% during 2019-2026.

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By product, it is classified into single screen display, video wall, and kiosk. Among these products, kiosk segment is anticipated to witness highest growth during forecast period, owing to surge in adoption of digital kiosk in retail industry. These digital kiosks are also used for ticketing, check -in, billing, and other applications banking and other sectors. 

Digital Signage Market
By Product

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Kiosk would exhibit the highest CAGR of 9.9% during 2019-2026.

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On the basis of location, the market is categorized into indoor and outdoor. The indoor segment is further categorized into Conference room, Office entrance, Classroom, Park and Others

Digital Signage Market
By Location

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Outdoor would exhibit the highest CAGR of 9.7% during 2019-2026.

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The end-users covered during the study are retail, education, healthcare, corporate, stadiums, government, and others. 

Digital Signage Market
By End-user

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Healthcare would exhibit the highest CAGR of 11.3% during 2019-2026.

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The global digital signage market analysis is done across various regions including North America, Europe, Asia-Pacific, and LAMEA, among which North America dominated the global market in terms of value and is projected to follow same trend during forecast period.

Digital Signage Market
By Region

2026
North America 
Europe
Asia-pacific
Lamea

Asia-Pacific would exhibit the highest CAGR of 11.0% during 2019-2026.

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Top Impacting Factors

The significant impacting factors in the digital signage market include rise in demand for bright and power-efficient display panels, rapid digitalization and decline in demand for traditional billboards, and increase in demand for 4K and Ultra-HD Devices, However, deployment of widescreen alternatives such as projectors hampers the market growth globally. 

Conversely, emerging display technology such as micro LED and quantum dots and increase in preference of electronic giants towards large-screen displays offer remunerative opportunities to the digital signage market. Each of these factors is anticipated to create digital signage market opportunity during the forecast period. 

Some Major Factors Impacting the Market Growth are given below:

Rise in Demand for Bright and Power-Efficient Display Panels

Digital signage is an emerging technology, which offers high image resolution and better picture quality over traditional displays. It offers enhanced contrast over the traditional OLED and LED display technologies. Moreover, it features enhanced response time. In addition, the consumption of power by digital signage is less as compared to other technologies such as LEDs and OLEDs. Thus, rise in demand for such brighter and power-efficient devices fuels the growth of digital signage market.  

Rapid Digitalization and Decline in Demand for Traditional Billboards

Use of traditional billboards has decreased considerably, as they lack variation and incur huge labor cost. Though they still have the capacity to draw large audience, they do not draw the same attention as large screen displays. Traditional billboards are benefitted most from digitization. Digitalization increases the market growth through the display of multiple ads of high quality in the same space. 
Further, it also eliminates the obstacle of limited reach of the audience. Technological advancements, including location intelligence, rise in programmatic advertising, and access of IoT, drive the growth of the digital signage market.

Increase in Demand for 4K and Ultra-HD Devices 

Over the years, the advancement in display technologies has lured large consumer base. The fast-growing adoption of 4K or Ultra High Definition TVs in residential sector has increased the demand for large displays. These displays also provide ports for connection of various entertainment systems such as gaming consoles, home theatre systems, and others. For instance, provides 4 HDMI inputs, HDCP2.3, HDMI-CEC, and HDMI audio return channel (ARC). Therefore, the advancement of large displays and technological developments including near field communication increases the demand for digital signage. 

Emerging Display Technology such as microLED and Quantum Dots

With the evolution of display technology, display manufacturers seek for innovations, which could provide them a competitive edge over others. Quantum dots displays, and micro LED displays are the emerging technologies with the enhanced features as against traditional LCD and OLED displays. These displays are built upon traditional LCD display systems, optimizing performance, picture quality, and energy efficiency by incorporating a layer of quantum dots and Micro LEDs into the LCD or OLED matrix. 

In quantum dots displays, a layer of quantum dots is overlaid on a blue LED backlight, which emits all the blue light visible onscreen while supplying the energy required for red and green quantum dots to fluoresce their respective colors. This results in a more vibrant display and a wider color gamut, which is a requirement for modern displays utilizing Ultra-HD. These emerging technologies integrated into the display technology offer lucrative opportunities for the growth of the digital signage display market. 

Competitive Analysis

The key players profiled in the report include NEC Corporation, Sony Corporation, LG Electronics, Samsung Electronics, Panasonic Corporation, ViewSonic Corporation, Volanti Displays, iSEMC (HHSD), Koninklijke Philips N.V., and Planer System Inc. These key players have adopted strategies, such as product launch, expansion, and partnership to enhance their position in the digital signage market.  

Key Benefits for Stakeholders:

  • This study comprises analytical depiction of the global digital signage market size along with the current trends and future estimations to depict the imminent investment pockets.
  • The overall digital signage market outlook is determined to understand the profitable trends to gain a stronger foothold.
  • The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
  • The current digital signage market forecast is quantitatively analyzed from 2019 to 2026 to benchmark the financial competency.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the digital signage industry.
  • The report includes the digital signage market share of key vendors and market trends.

Digital Signage Market Report Highlights

Aspects Details
By Offering
  • Hardware
  • Software
  • Service
By Product
  • Single Screen Display
  • Video wall
  • Kiosk
By Location
  • Indoor
    • Conference room
    • Office entrance
    • Classroom
    • Park
    • Others
  • Outdoor
By End User
  • Retail
  • Education
  • Healthcare
  • Corporate
  • Stadium
  • Government
  • Others
By Region
  • North America  (U.S, Canada, Mexico)
  • Europe  (UK, Germany, France, Italy, Rest of Europe)
  • Asia-Pacific  (Japan, China, India, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players iSEMC (HHSD Technology), Koninklijke Philips N.V., LG Electronics, NEC Corporation, Panasonic Corporation, Planar Systems, Sony Corporation, SAMSUNG ELECTRONICS CO. LTD., ViewSonic Corporation, Volanti Displays
 

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The digital signage market is projected to depict a prominent growth during the forecast period, owing rise in demand for bright and power-efficient display panels and rapid digitalization and decline in demand for traditional billboards. Digital signage is an emerging technology, which offers high image resolution, and better picture quality over traditional displays. It offers enhanced contrast over the traditional OLED and LED display technologies. In addition, the consumption of power by digital signage is less as compared to other technologies such as LEDs and OLEDs. Thus, rise in demand for such brighter and power-efficient devices fuels the growth of the digital signage market.

Major vendors such as Samsung, Apple, and Sony, and others adopt digital display technology on a large scale, owing to less power consumption, enhanced response time, and superior contrast over traditional display systems such as OLED, LED, and others. For instance, Samsung Electronics is expected to launch a modular technology The Wall, a self-emitting 146-inch Micro LED TV, which does not require color filters to produce perfect black and accurate colors unlike other display technologies. Thus, increase in preference of electronic giants toward large screen display format boosts the growth of the market. 

The key players profiled in the report include NEC Corporation, Sony Corporation, LG Electronics, Samsung Electronics, Panasonic Corporation, ViewSonic Corporation, Volanti Displays, iSEMC (HHSD), Koninklijke Philips N.V., and Planer System Inc. These key players have adopted strategies, such as product launch, expansion, and partnership to enhance their position in the digital signage market.

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FREQUENTLY ASKED QUESTIONS?

A. The Global Digital Signage Market is expected to grow at CAGR of 8.1% from 2019 to 2026.

A. The Global Digital Signage Market size is excepted to reach $32,122.4 million by 2026.

A. To get the latest version of sample report

A. Rise in demand for bright and power-efficient display panels and rapid digitalization and decline in demand for traditional billboards, and increase in preference of electronic giants toward large-screen displays are the factors that drive the growth of the digital signage market.

A. The key players profiled in the report include NEC Corporation, Sony Corporation, LG Electronics, Samsung Electronics, Panasonic Corporation, ViewSonic Corporation, Volanti Displays, iSEMC (HHSD), Koninklijke Philips N.V., and Planer System Inc.

A. On the basis of top growing big corporations, we select top 10 players.

A. The Digital Signage Market is segmented based on offering, product, location, end user, and geography.

A. The key growth strategies of digital signage market players include expansion, partnership, and product launch.

A. By Offering, the Hardware segment is expected to exhibit the highest CAGR during the forecast period.

A. By Region, North America was the highest revenue contributor in 2018 and is expected to dominate the market during the forecast period.

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