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
The global digital signage market size was valued at $17.23 billion in 2018, and is projected to reach $32.12 billion 2026, growing at a CAGR of 8.1% from 2019 to 2026. Digital signage is a class of large display screen formats that improve the visual experience with its professional-grade image quality and are mostly used for endorsing and advertising. 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 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 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.
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. However, deployment of widescreen alternatives such as projectors and screenless displays and lack of standard policy and power problems hampers the 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.
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. By product, the market is classified into single screen display, video wall, and kiosk. On the basis of location, the market bifurcated into indoor and outdoor. The end users covered during the study are retail, education, healthcare, corporate, stadiums, government, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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 digital signage market.
KEY MARKET SEGMENTS
Single Screen Display
BY END USER
Rest of Europe
Rest of Asia-Pacific
Koninklijke Philips N.V.
Planer System Inc.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook