ID: MRFR/SEM/0596-CR | March 2021 | Region: Global | 134 pages
Digital Signage Market valued at USD 20,623.6 Million in 2019 and is expected to reach USD 31,368.4 Million by 2026 with a CAGR of 7.40% during the forecast period, 2020–2026.
Digital signage can be referred to as electronic signage. Signage is the design, or a group of signs and symbols, used for marketing. Digital signs use technologies such as LCD, LED, and projection of display content, including digital images, video, streaming media, and information. Digital signage is found in public spaces, transportation systems, museums, stadiums, retail stores, hotels, restaurants, and others to provide wayfinding, exhibitions, marketing, and outdoor advertising.
Digital signage technology is used to deliver updated information quickly and easily to the public, minimize paperwork, make the contents more attractive through animations, and improve the user experience. Many digital signage vendors offer customization options for their products, making the product more lucrative for their end-users. The customized products are delivered in just 4-5 days. Moreover, there is no minimum criterion for ordering a customized product. A customer can demand the delivery of a single unit of the digital signage display device.
North America accounted for the largest market share of 31.99% in 2019 followed by Europe. The digital signage market in North America is expanding with the increasing investments by key market players such as Sony, Panasonic, Intel, and Samsung. The region is a hub for media and entertainment offerings for the film and television, music, social media, sports, arts, theater, and publishing segments. Additionally, the digital signage market in the region generates revenue from strong news broadcasting services offered by various enterprises operating in the US, Canada, and Mexico.
Digital Signage Market, By Application (2019 Vs 2026)
On the basis of application, the Digital Signage Market is segmented into indoor and outdoor. The outdoor segment accounted for the larger market share of 67.88% in 2019. Outdoor digital signage is mostly static and can be managed by a central server for displaying advertisements and some critical information, such as in bus-stops, for weather reports, or news broadcasting. These digital signage systems are auto-dimming as these are used throughout the day for better visibility and readability. Some of the digital signage displays use processors and storage for repeated content management and playback. Some of the most widely used outdoor digital signage systems are seen in restaurants, shopping mall premises, billboards, and signboards.
Digital Signage Market, by region, has been segmented into North America, Europe, Asia-Pacific, the rest of the world. North America accounted for the largest market share of in 2019; the Digital Signage Market is expected to register a significant CAGR during the forecast period. Europe was the second-largest market in 2019. The rising penetration of the Internet across the European nations is one of the major factors contributing to the growth of the regional digital signage market. The Western European region, which includes countries such as the UK, Germany, Spain, and France, accounts for a strong share in the media advertising market.
The Key Players of the Digital Signage Market are Cisco Systems, Sharp Corporation, Panasonic Corporation, 3M, Sony Corporation, Intel Corporation, HP Inc, Samsung Electronics Co Ltd, NEC Corporation, Toshiba Corporation, and LG Electronics among others. These players compete in terms of availability, quality, price, and technology. They primarily focus on the development of sophisticated Digital Signages. Although the international players dominate the digital signage market, regional and foreign players with small market shares also have a notable presence.
Key Questions Addressed by the Report
Frequently Asked Questions (FAQ) :
The development in display technologies such as LCD, LED, and projection to show content are forecasted to benefit the market.
A 7.40% CAGR approx. is foreseen to boost the revenues of the market to USD 26.3 Billion by 2022.
The competitors operating the market are Hewlett-Packard Company (U.S.), Bright Sign LLC (U.S.), Samsung Corporation (South Korea), Cisco System Inc. (U.S.) and NEC Display Solutions Ltd (South Korea).
The elevated primary cost and absence of standardization are expected to pose certain restrictions to growth in the coming period.