Digital Signage market is expected to be worth around $37.40 Billion by 2026 and grow at a CAGR of around 7.3% during the forecast period: by components, product, application and geography-global drivers, restraints, opportunities, trends, and forecast up to 2026.
— Digital signage, also known as dynamic signage, is a form of electronic display that displays visual information using technologies such as LCD, LED, and plasma displays to display content. They are used for advertisements, communicating important information to the masses, etc. It targets a very niche audience, and these displays can be commonly found in retail stores, banks, hotels, corporate offices, etc. Digital Signage plays an integral role in the business as they are very effective for the marketing of products and services and also expanding the customer base through advertising. The digital signage market is expected to be worth around $37.40 Billion by 2026 and grow at a CAGR of around 7.3% during the forecast period.
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The digital signage market has been analyzed by utilizing the optimum combination of secondary sources and in-house methodology, along with an irreplaceable blend of primary insights. The real-time assessment of the market is an integral part of our market sizing and forecasting methodology. Our industry experts and panel of primary participants have helped in compiling relevant aspects with realistic parametric estimations for a comprehensive study. The participation share of different categories of primary participants is given below:
The world is witnessing rapid digitalization, and there are emerging display technologies that are very likely to boost this market by bringing new opportunities. Moreover, there is an increasing demand for digital advertising, which will favor market growth. The scope of the Digital Signage Market is defined in the market analysis as follows:
Based on Components
The hardware segment within the digital signage market is estimated to have the largest share in the digital signage market in the forecast period due to tremendous growth in commercial and retail segments and also due to the rapid infrastructural projects coming up in different parts of the world. Also, the advancement in technology is improving the digital experience day by day, which increases the demand for hardware. The software technology segment is expected to grow more in the forecast period due to the content management needs of the enterprises.
Based on Product
The kiosks segment has been holding the largest share in the market and is expected to continue this trend in the forecast period. Kiosks are commonly seen in shopping malls, airports, etc. They are very important in providing information advertising products.
Based on Application
The commercial segment is expected to have the largest share of the overall digital signage market. This market growth is attributed to its vast usage in spaces like stadiums, airports, railway stations, hotels, corporate offices, healthcare centers, etc.
Based on Geography:
Rest of the World
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North America is the region predicted to lead the largest share of the global digital signage market in 2020, accompanied by Europe, Asia Pacific, Latin America, and the Middle East and Africa. However, the Asia-Pacific region is anticipated to witness high growth during the forecast period on account of technological advancements.
However, this industry faces some of the challenges in terms of high investment, huge installation and maintenance costs. Also, in many regions, especially the developing countries, there are issues related to network and connectivity, which slows the growth of this market. Also, the COVID-19 pandemic has had some negative effects on this industry, especially in the manufacturing operations, as these have come to a halt. Furthermore, this year the marketing and advertising budget of companies can go down due to fewer profits, which are expected to impede the growth of this market.
The report also includes an analysis of the major players in the Global Digital Signage market. Some of the key players in the digital signage market are: Samsung Electronics, Omnivex Corporation, Sharp Corporation, Leyard Optoelectronic, E Ink Holdings, NEC Corp, Sony Corporation, BARCO, Panasonic, Exceptional3D and AU Optronics, and LG Electronics.
This report is helpful to understand the key market dynamics.
The analysis of competitive edge is provided in this report that would help the users to understand the product development, coherent strategies, and framework of the vital players in the market.
This report also gives an in-depth analysis of market segmentation, market current trends, opportunities, and driving factors of the market.
Quantitative and Qualitative analysis of the market enables us to understand the complete scenario of the market.
Table of Contents
1. Executive Summary
2. Industry Outlook
2.1. Industry Overview
2.2. Industry Trends
3. Market Snapshot
4. Market Snapshot
4.1. Total Addressable Market
4.2. Segment Addressable Market
4.2.1. PEST Analysis
4.2.2. Porter Five Forces
4.3. Related Markets
5. Market Outlook
5.1.1. Market Evolution
5.2. Market Trends and Impact
5.3. Pricing Analysis
5.4. Market Segmentation
5.5. Market Dynamics
5.6. DRO - Impact Analysis
6. Components: Market Size & Analysis
7. Product: Market Size & Analysis
7.4. Menu Boards
8. Application: Market Size & Analysis
9. Geography: Market Size & Analysis
10. Competitive Landscape
10.1. Competitor Comparison Analysis
10.2. Market Developments
10.2.1. Mergers and Acquisitions, Legal, Awards, Partnerships
10.2.2. Product Launches and execution
11. Vendor Profiles
13. Analyst Opinion
14.1. Report Scope
14.2. Market Definitions
14.3. Research Methodology
14.3.1. Data Collation and In-house Estimation
14.3.2. Market Triangulation
15. Report Assumptions
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