Global Digital Signage Market to Reach USD 25.2 BN by 2032, with a 6.31% CAGR from 2024-2032; MRFR Reveals Insights

Market Research Future has published a Cooked Research Report on the Global Digital Signage Market

The global digital signage market is gearing significant traction. Market growth attributes to technological innovations in smart wireless technologies. Besides, substantial R&D investments in developing communication solutions and connectivity drive the market's growth. Technological developments in smart devices and the growing IoT penetration foster digital signage market revenues.

With the rising adoption of wireless displays across commercial applications, the market is projected to garner significant traction over the next few years. In this regard, Market Research Future (MRFR) states that the global digital signage market value is forecasted to escalate from USD 14.4 Billion in 2023 to USD 25.2 Billion by 2032, growing at a 6.31% CAGR during the forecasted period (2024-2032). 

Increased incorporation of gesture recognition and technological advancements in advertisement systems are the key market drivers enhancing market growth. There have been vast innovations in the digital signage field, and features like safety sensors and smartphone integration have become common. As technologies mature further, they influence market trends and opportunities excellently. 

On July 2023, Palmer Digital Group, a leading digital signage supplier, rolled out audio enclosure options for its entire digital menu board offerings, including single, double, and triple display options for pedestal and canopy boards. The optional speaker-microphone enclosures can be added to existing installations, with side-mount and under-mount configurations available.

In addition to eliminating a separate structure, PDG's enclosures reduce the need for additional conduits for runs to the standalone speaker-mic box. Additionally, increasing uses of web-based interfaces, smartphones, and tablets boost market revenues. Furthermore, the increasing adoption of digital signage for advertising purposes influences the digital signage market value. 

Market Segmentation

The digital signage market report is segmented into product types, components, technologies, applications, verticals, and regions. The product type segment is sub-segmented into kiosks, billboards, signboards, and menu boards. The component segment is sub-segmented into hardware, software, and services. The technology segment is sub-segmented into LCD, LED, OLED, front projection, and others.

On Aug 2023, Backplane Systems Technology, an Australian provider of high-quality industrial-grade computer technologies, presented iBase’s cutting-edge fanless digital signage player, SE-603-N. iBase's SE-603-N is equipped with 11th Gen Intel Core/ Celeron U-Series Processors, offering the iSMART intelligent energy-saving and Observer remote monitoring technologies. Its TPM 2.0, vPro, and watchdog timer ensures maximum security and reliability in deployment.

iBase SE-603-N facilitates efficient power management and allows for remote device management, significantly reducing maintenance efforts and costs. The application segment is sub-segmented into outdoor and indoor. The vertical segment is sub-segmented into entertainment, transportation, retail, healthcare, banking, education, government, and others. The region segment is sub-segmented into North America, Europe, Asia-Pacific, and Rest-of-the-World.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Digital Signage Market Research Report

Geographical Analysis

North America leads the global digital signage market, witnessing increasing investments by key players such as Panasonic, Sony, Intel, and Samsung. The region is a hub for media & entertainment offerings for film & television, music, social media, sports, arts, theatre, and publishing segments, impacting the market growth. Besides, strong news broadcasting services in the region help the digital signage market generates vast revenues.

The US, Canada, and Mexico are major markets driving the digital signage market growth, with various enterprises operating in these countries. Additionally, technological advances and increased adoption of digital displays across industry verticals, alongside the augmented demand and availability of quality wireless displays in the region, boost the digital signage market size. 

Competitive Analysis 

Highly competitive, the global digital signage market appears fragmented, with a number of technology providers forming a competitive landscape. All players incorporate acquisition, partnership, collaboration, expansion, and product & technology launches to gain a larger competitive advantage and stay at the forefront of the market.

On Aug 2023, Directable, a cloud-based digital signage solution provider, and Canva, a leading graphic design platform, announced a collaboration to transform digital signage experiences for businesses worldwide. The integration with Canva will enable Directable to allow its customers to publish their content to screens without leaving the Canva app.

Leading the digital signage market players are Sharp Corporation, Redbox Automated Retail LLC, Cisco Systems, Daktronics, Barco, Panasonic Corporation, NEC Corporation, Sony Corporation, Goodview Company, 3M, Leyard, Intel Corporation, AUO Corporation, Samsung Electronics Co Ltd., Exceptional 3D, HP Inc, Scala, Deepsky Corporation Ltd. LG Electronics, and Toshiba Corporation, among others.