Digital Signage Market: Information by Type, Technology (LCD, LED, Projection), End-User, Location, and Region — Forecast till 2029

Digital signage, also known as dynamic signage, delivers customized content, media playlists, and live TV to one or more digital screens, and thus, enables business organizations to display targeted information and advertisements to a specific audience at a specific place and time. Various technologies, including LCD and LED, are employed in digital signage. The use of digital signage is rising with the increasing focus on the quality of content presentation. Digital signage has also started to create new retail experiences, which drives its adoption among retail companies.

Digital Signage — Growth Stage of Life Cycle

Digital signage is in the growth stage of its lifecycle. Players in the digital signage market are investing in R&D with a focus on innovation in a bid to garner consumer attention at a relatively low cost and in a relatively shorter span of time compared to traditional advertising methods. Prospective clients are in the process of shifting from traditional practices, which places the digital signage market in the growth stage.

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Rising Adoption in Commercial Sector

Retail stores, the hospitality sector, and other public spaces are increasingly adopting digital signage as a means for displaying product information, advertise, and entertain. Retail was one of the first sectors to recognize the benefits of digital and interactive displays in marketing, and it is now expanding into the actual customer shopping experience. Retailers can provide information regarding their products, offers, discounts, and new launches to attract customers and, ultimately, expand their customer base and revenue generation. Moreover, the technology also allows businesses to effectively and efficiently reach and interact with customers to create new business opportunities, increase brand opportunities, improve efficiency, promote new products and services, and enhance the customer experience. For instance, the Plopsaland De Panne theme park in Belgium recently adopted the technology to engage with customers and increase sales.

Integration of Technologies for Novel Applications

The integration of biometric technology with digital signage is creating ample opportunities for market growth through the development of new products, including track heat paths and gaze tracking. Track heat path technology allows the enterprise to locate the crowded area, so it can display its products in targeted locations, ultimately increasing its penetration and popularity. Gaze tracking technology can track consumers’ visual attention, so enterprises can understand where people are concentrating and advertise accordingly.

Segmentation Insights

The video walls segment dominates the market on the basis of type and is expected to retain is eminent position throughout the forecast period. The cost-effectiveness, ease of installation and mounting, and connectivity of video walls type of digital signage drive adoption in shopping malls and other public places, subsequently fostering the segment’s growth.

LCD accounts for the most prominent value share among the different market segments by technology. It is extensively adopted in digital posters for marketing and advertisement purposes due to its convenience in manufacturing and low production cost.

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Retail & BFSI — Key End-Users

Retailers use digital signage for advertisements to market and promote their products and services. They are pursuing a variety of marketing strategies to capture a larger customer base. Intense competition in retail drives the adoption of digital signage in the sector; thus, retail is one of the most prominent end-use sectors for the market.

Another prominent industry that employs digital signage is the banking sector. Customer experience is the biggest driver for BFSI companies, and several banks consider it more important than price-value perception when it comes to acquiring customer loyalty. It is estimated that visual experience deeply impacts customers compared to other advertisement forms. Hence, banks and other financial companies are gradually shifting to digital signage marketing techniques for promotional and branding purposes. Moreover, the traditional advertisement techniques employed by banks are relatively more expensive and time-consuming, which further facilitates market growth in the sector.

Asia-Pacific — The Fastest Growing Digital Signage Market

China and India are the key growth enablers in Asia-Pacific’s digital signage market. These countries, alongside Indonesia, are home to a substantial share of the global population, a large percentage of which is potentially receptive to well-created digital signage content. Rising developments in the field of transportation, retail, and public infrastructure are accelerating demand for digital signage. Prominent retail chains in India, including Pantaloons, Big Bazaar, Food Bazaar, and Central, are increasingly adopting digital signage for advertising purposes. Moreover, banks and other financial companies in the country are also adopting digital signage owing to its cost-effective nature. Airports, highways, malls, and theatres in the country are expected to provide lucrative opportunities for adoption and, consequently, drive market growth.

Players in Asia-Pacific are engaged in R&D to sustain their position. The Nippon Telegraph and Telephone Corporation, a telecommunications company headquartered in Tokyo, launched digital signage equipped with aroma emitting components. The launch was aimed to strengthen the impact of marketing among the populace. It is branded as Kaoru Signage, and the product combines digital signage and NTT’s Kaori Tsushin (fragrance communication) online service. The fragrance strength can be adjusted, and the company believes that aromas can increase the chances of passers-by noticing the sign, remembering the product being advertised, and eventually purchasing it.

Key Players

Samsung Electronics
LG Electronics
NEC Corp.
Exceptional 3D
Leyard Optoelectronic
Panasonic
Delta Electronics
Omnivex Corporation
Deepsky Corporation
Christie Digital Systems
Intuiface
Winmate Communication, Inc.
Key Distibutors

BlueStar, Inc.
Cloud Media
LaneSquare Technology Pvt Ltd.
Maxx Business Systems
Remote Media Group Limited
Digital Signage Market Segmentation

By Type

Video Walls
Digital Posters
Video Screens
Kiosks
Transparent LED Screens
Others
By Technology

LCD
LED
Projection
By Location

In-Store
Out-Store
By Retail

Banking & Financial Sector (BFSI)
Healthcare
Retail
Hospitality
Transportation & Public Place
By Region

North America
Europe
Asia Pacific
South America
Middle East & Africa

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This release was published on openPR.