As per MRFR Analysis, the Global Digital Signage Market was valued at USD 14.4 Billion in 2023 and is projected to reach USD 25.2 Billion by 2032, growing at a CAGR of 6.31% from 2024 to 2032. Key drivers include advancements in gesture recognition technology and increased demand for digitized promotions. The market is segmented by component type into Hardware, Software, and Service, with Hardware expected to dominate. The Commercial vertical is anticipated to lead market influence, while North America holds the largest market share due to high demand in the retail sector. However, challenges such as high initial costs and lack of standardization may hinder growth.
The Digital Signage Market is experiencing significant growth driven by technological advancements and increasing demand across various sectors.
Key players include Redbox Automated Retail LLC, LG Electronics, Daktronics, Samsung Electronics Co. Ltd, Barco, Panasonic Corporation, Sony Corporation, NEC Corporation, Goodview Company, Leyard, AUO Corporation, Exceptional 3D, Scala, and Deepsky Corporation Ltd.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for digital signage is being driven by the rising incorporation of gesture recognition. Digital signage provides a new way for consumers to interact with the information given by advertisements and entertainment companies. Several manufacturers are involved in R&D to innovate and develop display processors inclusive of gesture recognition technology. There is an increased demand for the digitized promotion of products and services to get the attention of the target audience effectively.
The gesture recognition technology is anticipated to be the most largely utilized technology in digital signage systems. The main adopter of this technology is the automotive and transportation sectors. Without touching the screen, this technology can be utilized by performing recognizable hand and finger gestures in the allotted space. The 3D designs can be recognized by gesture recognition and can interact with the system via hand movement. An invisible user interface and gesture technology with digital signage can help change the way customers interact with technology, as they limit the superiority of screens in front of the face of user. In the education system, for learning more interactive and interesting gesture-enabled digital signage is used.
No paper waste, audience engagement, overcoming spatial limitations, dynamic content control and cost-effectiveness, targeted content, and interactive digital signage are some of the benefits given by digital signage. There is an increasing demand in public and commercial sectors for digital signage because of its cost-effectiveness and assured return upon investing is increasing the demand for digital signage in the market. In order to make the brand value, there is an increase in the demandreigital signage in the infrastructure industry and rising digital technology. However, the major factors hindering the growth of the digital signage market are a lack of technical expertise and large initial cost and lack of standardization. The research and development of display designers and advertisement companies are investing largely to enhance the display technology of products. The evolution of LED, LCD, UHD, OLED, and super AMOLED with the development in display technology is strengthening the industry growth; these help in improving the quality of the advertisement content, attracting customers. Thus, driving the Digital Signage market revenue.
The Digital Signage Market segmentation, based on component type, includes Hardware, Software, and Service. The hardware category is expected to dominate the market due to technological advancement during the forecast period. The hardware component includes banners, LED, display panels, LCD screens, and others. The software segment is foreseen to experience steady growth throughout the forecast years because of its increasing requirement. The recent development of cloud-based digital signage software is anticipated to fuel the growth of market revenue.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Digital Signage Market segmentation, based on vertical, includes Commercial, Institutional, Infrastructure, and Institutional. The commercial segment is anticipated to influence the market throughout the forecast period. Businesses utilize commercial digital signage to display a large range of content forms, like videos, text, photos, animations, social media, live news, emergency alerts, event listings, and more.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Digital Signage market dominates the market due to the increasing presence of dedicated product suppliers with the rising requirements for signage in the retail industry. There is the growth of research and development by the key market participants to enhance the quality of products. The government is taking initiatives to install digital signage at various offices to maintain a continuous flow system of information.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's Digital Signage market accounts for the second-largest market share due to the constant manufacturing industry development and high investments in digitization by market players. Further, the German Digital Signage market held the largest market share, and the UK Digital Signage market was the rapid-growing market in the European region.
The Asia-Pacific Digital Signage Market is anticipated to grow at the fastest CAGR from 2024 to 2032. This is due to the growing adoption of digital signage solutions in developing countries and rising housing, commercial and corporate trends. Moreover, China’s Digital Signage market held the largest market share, and the Indian Digital Signage market was the rapid-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to spread their product lines, which will help the Digital Signage market grow even more. Market participants are also undertaking a various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Digital Signage industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Digital Signage industry to benefit clients and increase the market sector. In recent years, the Digital Signage industry has offered some of the most significant advantages to the advertisement industry. Major players in the Digital Signage market, including Redbox Automated Retail LLC, LG Electronics, Daktronics, Samsung Electronics Co. Ltd, Barco, Panasonic Corporation, Sony Corporation, NEC Corporation, Goodview Company, Leyard, AUO Corporation, Exceptional 3D, Scala, Deepsky Corporation Ltd., and others, are attempting to increase market demand by investing in research and development operations.
LG, a South Korean multinational electronic company headquartered in Yeouido-dong, Seoul, which is a global leader in manufacturing consumer and commercial products ranging from TVs, home appliances, air solutions, service robots, monitors, automotive components, and it's premium LG SIGNATURE and intelligent LG ThinQ brands. In January, LG Electronics launched the LG: One Quick, which is an easy-to-use, all-in-one solution for homes and offices. In order to avail the requirements of the new ways how individual lives and work, the company developed the LG: One Quick. It has the capability to alter and extend how individuals, co-workers, and teams communicate in the modern reality of remote working. It has three different models, including One: Quick Works (55CT5WJ), which is an advanced 55 4K Ultra High Definition all-in-one video conferencing touch display and all-round productivity tool applicable to a variety of workplace environments; one: Quick Flex (43HT3WWJ), and One: Quick Share (SC-00DA).
Redbox Automated Retail LLC is an American video-on-demand streaming and video rental company that specializes in DVD, Blu-ray, 4K UHD rentals and purchases and formerly video games through automated retail kiosks and TVOD, AVOD, and FAST services in its website, Android and iOSapps. Redbox, a leading entertainment company, stated in December 2021, announced that it had installed digital video signage on over 2,000 kiosks throughout the US, with 4000 total installations. The partnership with a managed service company, Velocity, the new video screens provide the company with a powerful, innovative way to partner with Hollywood studios in order to promote the movies that are newly released. The rapidly rising free streaming service, as well as the advertisement opportunities for national and hyper-local media campaigns, will be seen in the traffic location by millions of people.
Redbox Automated Retail LLC
Daktronics
Samsung Electronics Co. Ltd
Barco
Panasonic Corporation
Sony Corporation
NEC Corporation
Goodview Company
Leyard
AUO Corporation
Exceptional 3D
Scala
Deepsky Corporation Ltd.
April 2022:Â A producer of LED video displays, Daktronics, partnered with AV integrator Control Point Technology in order to outfit nine current and soon-to-be-installed Barstool Sportsbook branched locations with LED video displays and ticker displays.
April 2022:Â Displays for business applications was launched by Samsung at Integrated Systems Europe (ISE), 2022, in Barcelona. The Wall, UHD 4K Signage, and Flip Pro are included in the new products.
September 2020: The launch of WallConnect Cloud was announced by Barco, which is the new cloud-based management and remote monitoring platform for its video walls. This cloud solution provides remote diagnostic and management for optimal uptime, which will allow the system integrator to monitor and diagnose their installed base of video walls, allowing them to remotely check the status.
June 2023- Digital signage has been incorporated by Dirty Dough to enhance employee training and corporate branding. Dirty Dough recently partnered with Hughes Network Systems, LLC (HUGHES) to integrate promotional screens, digital menu boards, and employee communication screens in their stores, helping to expand their business, guide employees through store processes, and enhance in-store engagement. This was motivated by the need to streamline brand consistency among their 80 franchise locations.
They need a solution to make it simple for their locations to change their weekly menus, to support more eye-catching promotions, to provide personnel at decorating stations improved recipe instructions, and to link and integrate all screens across the chain and at each individual store. Additionally, the corporate office gained more control over the shop content thanks to this digital signage technology, whereas local stores only had limited ability to modify the information.
It took roughly a week to integrate the CMS with the digital signage network, enabling corporate to remotely control content across several screens and locations. Each location now has four screens: two huge menu boards, a 24-inch screen especially for the decorating station, & a promotional board for sharing information about Dirty Dough services including catering and their customer loyalty program.
Additionally, the signage gives the business the freedom to continually modify and alter its educational and marketing materials in response to customer feedback or market demands. The benefit of digital signage is it allows for constant evaluation and updating without the cost or logistical hassle of sending materials; changes are made digitally and almost instantly.
With the use of new technology, staff members can now create cookies more quickly and reliably while still having more time to interact with clients and provide a more customized experience. This improves the in-store experience and makes their stores more effective, Stewart said. And eventually, that means their consumers will be more loyal.
June 2023- The Windows-based Fugo Digital Signage Player has been presented by Fugo, a company that makes hardware solutions for businesses constructing broad professional networks.
Fugo has been a big supporter of SMBs wishing to deploy digital signage projects on cost-effective consumer electronics like the Amazon Fire TV stick by utilizing their cloud-based software ever since the company was founded in 2020.
Due to their affordability and accessibility, these devices have become more and more popular among novice DIYers, but they lack the features necessary for deployment at the business level. The Fugo Digital Signage Player has been created to tackle these problems head-on and provide businesses a reliable, purpose-built solution that guarantees dependable performance and integration.
The Fugo Player addresses the drawbacks frequently seen in consumer electronics, such as subpar performance, interruptions during playback, connection problems, environmental wear & tear, & security flaws.
It guarantees faultless and constant playing for the targeted audience thanks to excellent content performance, which also includes the support for high-resolution movies, dynamic web applications, and real-time data streams. The Fugo Player is a new addition to their software lineup that offers quicker multi-screen installations, interaction with current IT infrastructures, and strengthened security measures to protect digital signage networks.
Fugo has established itself as a key player in enabling businesses to use digital signage to forge closer ties with their audiences. The firm has demonstrated its dedication to provide businesses a user-friendly solution that improves communication, engagement, & information sharing within the organization by introducing the Fugo Digital Signage Player.
According to Zuka Kakabadze, founder and CTO of Fugo, this launch is a significant milestone for the company as it expands its offerings to cater to the requirements of enterprise customers. They are happy to provide this solution to their clients after realizing the need for a specialized device that ensures dependable performance, easy integration, and strong security in large-scale installations.
Hardware
Software
Service
Commercial
Institutional
Infrastructure
Institutional
North America
Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Attribute/Metric | Details |
| Market Size 2023 | USD 14.4 Billion |
| Market Size 2024 | USD 15.4512 Billion |
| Market Size 2032 | USD 25.2 Billion |
| Compound Annual Growth Rate (CAGR) | 6.31% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component Type, Vertical, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Redbox Automated Retail LLC, LG Electronics, Daktronics, Samsung Electronics Co. Ltd, Barco, Panasonic Corporation, Sony Corporation, NEC Corporation, Goodview Company, Leyard, AUO Corporation, Exceptional 3D, Scala, Deepsky Corporation Ltd. Â |
| Key Market Opportunities | Rising adoption of digital signage technology in SMEs. |
| Key Market Dynamics | Growing incorporation of gesture recognition. |
Frequently Asked Questions (FAQ) :
The Digital Signage Market size valued at USD 14.4 Billion in 2023.
The global market is foreseen to grow at a CAGR of 6.31% during the forecast period, 2024-2032.
North America had largest share of the global market
The key players in the market are Redbox Automated Retail LLC, LG Electronics, Daktronics, Samsung Electronics Co. Ltd, Barco, Panasonic Corporation, Sony Corporation, NEC Corporation, Goodview Company, Leyard, AUO Corporation, Exceptional 3D, Scala, Deepsky Corporation Ltd.
The hardware category dominated the market in 2023.
The commercial had the largest share of the global market.
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Senior Research Analyst Ankit gupta is an analyst in market research industry in ict and semi industry. with post-graduation in "telecom and marketing management" and graduation in "electronics and telecommunication" vertical he is well versed with recent development in ict industry as a whole. having worked on more than 150+ reports including consultation for fortune 500 companies such as microsoft and rio tinto in identifying solutions with respect to business problems his opinions are inclined towards mixture of technical and managerial aspects.
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