“Growing adoption of digital signage for advertisement, branding, and broadcast of information by businesses and institutions in commercial sector to drive the digital signage market”
The global digital signage market size is estimated to be USD 16.3 billion in 2021 and is projected to reach 27.8 billion by 2026, at a CAGR of 11.2% during the forecast period. The market has a promising growth potential due to several factors, including the ongoing innovations in display technologies such as OLED, electronic paper display (EPD), and quantum dot LED (QLED) displays, ongoing disruption in retail sector through digital transformation of retail stores into smart stores, and the increasing demand for cloud-based software with dynamic content creation.
“Software licenses can be purchased and upgraded at regular intervals—an advantage for businesses—which is projected to accelerate the market growth”
The software segment is projected to grow at the highest CAGR from 2021 to 2026 for digital signage market, by offering. The higher demand for digital signage software can be attributed to various benefits offered by it, including content management of various digital screens, demand for cloud-based signage solutions, along with the low purchasing frequency of hardware devices due to their long operational life. Moreover, software licenses can be purchased and upgraded at regular intervals—an advantage for businesses—which is projected to accelerate the market growth during the forecast period.
“Commercial segment is estimated to hold largest market share in 2026”
The commercial segment for digital signage market is estimated to hold largest market share in 2026, by application. The growing adoption of digital signage products for advertising and content delivery to increase the customer base and enhance consumer satisfaction in the retail, hospitality, corporate and broadcast, healthcare, and government sectors is expected to fuel the growth of the digital signage market for commercial application. Also, the increase in the penetration of digital technologies in the retail and hospitality sectors is expected to support the market growth during the review period.
“APAC is projected to become the largest geographical market by 2026”
APAC is projected to register largest market size of digital signage market by 2026. The increasing integration of the Internet of Things (IoT) and artificial intelligence (AI) into display products, which enable digital transformation across various applications such as commercial, institutional, infrastructure, and industrial, has fueled the demand for digital signage in the region. Additionally, the high economic growth, rising consumerism, changing lifestyles, increasing disposable income, technological advancements, and expanding retail space have accelerated the adoption of strong and reliable advertising media in the countries of the region, which is fueling the demand for digital signage solutions for various indoor and outdoor locations.
Breakdown of profiles of primary participants:
- By Company: Tier 1 = 30%, Tier 2 = 50%, and Tier 3 = 20%
- By Designation: C-level Executives = 25%, Directors = 35%, and Others (sales, marketing, and product managers, as well as members of various organizations) = 40%
- By Region: APAC = 25%, North America = 35%, Europe=30%, and ROW=10%
Major players profiled in this report:
The digital signage market is dominated by a few established players such as Samsung Electronics (South Korea), LG Electronics (South Korea), Sharp Corporation (Japan), Leyard Optoelectronic (US), Sony Corporation (Japan), Barco (Belgium), Panasonic Corporation (Japan), Shanghai Goodview Electronics (China), AU Optronics (Taiwan), and BrightSign (US).
Research coverage
This report offers detailed insights into the digital signage market based on offering (hardware, software, services), product(video wall, standalone display), display size(below 32 inch, between 32 and 52 inches, above 52 inch), installation location(indoor, outdoor), application (commercial, infrastructure, institutional, industrial), and region (North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW) which includes the Middle East, Africa, and South America).
The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the digital signage market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Key Benefits of Buying the Report
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the hearth market and provides them information on key market drivers, restraints, challenges, and opportunities.
