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Digital Signage Market Insights, Size, Share, Overview And Growth Report 2024
Digital Signage Market
The Business Research Company offers in-depth market insights through Digital Signage Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The digital signage market size has grown strongly in recent years. It will grow from $20.58 billion in 2023 to $22.15 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to rise in retail and advertising expenditure, enhanced customer experience, transition from traditional to digital displays, cost-effective communication.
The digital signage market size is expected to see strong growth in the next few years. It will grow to $30.56 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to emergence of smart cities, demand for real-time information, focus on employee communication, expansion in transportation and hospitality sectors. Major trends in the forecast period include integration with mobile devices, augmented reality (AR) and virtual reality (VR) integration, touchless and gesture-based interfaces, personalized content through data integration, multi-channel integration.
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Market Segmentation:
The digital signage market covered in this report is segmented -
1) By Product: Standalone Display, Video Wall
2) By Offering: Hardware, Software, Services
3) By Location: Indoor, Outdoor
4) By End User: Retail, Education, Healthcare, Corporate, Stadium, Government, Other End Users
Major Driver - Surging Demand For High-Resolution Displays Propels Digital Signage Market Growth
The increasing demand for 4K and 8K resolution displays is significantly driving the growth of the digital signage market. The resolution is a measurement of pixels across the screen in both horizontal and vertical directions. The desire for greater resolution, larger-sized TVs with modern display technology that gives realistic images with better image quality and increased viewing experience is driving demand for 4K and 8K resolution screens. The display screen's display resolution produces a crisp and easy-to-read image. In stadiums, retail stores, museum theatres, and planetariums, 4K and 8K resolution displays are constructed with ideal viewing distances for varied resolutions in view. For instance, according to Consumer Technology Association report, in 2021, 4K ultra-high definition (UHD) sets accounted for 25 million units, up 12% from 2019. Therefore, the increasing demand for 4K and 8K resolution displays is expected to propel the growth of the digital signage market going forward.
Competitive Landscape:
Major companies operating in the digital signage market report are Samsung Electronics Co. Ltd., Sony Corporation, LG Electronics Inc., Panasonic Corporation, NEC Corporation, Toshiba Corporation, Sharp Corporation, Koninklijke Philips N.V., Delta Electronics Inc., Navori Labs SA, Scala Inc., Crestron Electronics Inc., E Ink Holdings Inc., Barco NV, Daktronics Inc., ViewSonic Corporation, Christie Digital Systems USA Inc., BenQ Corporation, Absen, AU Optronics Corp., Elo Touch Solutions Inc., Planar Systems Inc., Peerless Industries Inc., BrightSign LLC, Milestone AV Technologies LLC, STRATACACHE Inc., NanoLumens Corporation, Omnivex Corporation, Keywest Technology Inc., Leyard Optoelectronic Co. Ltd., Onelan Limited, Mitsubishi Electric Corporation, SpinetiX SA, YCD Multimedia, Matrox Graphics Inc., Enplug Inc., NoviSign Ltd.
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Top Trend - Cloud-Based Solution Sets New Standards For Flexibility And Impactful Communication
Major companies operating in the digital signage market are focusing on developing advanced technologies such as cloud based digital signage solutions to strengthen their position in the market. Cloud-based digital signage solutions refer to a system where the software for managing and deploying digital content resides on remote servers accessed over the internet, rather than being installed on local hardware at each display location. For instance, in June 2023, MuxLab inc., a Canada-based designs and manufactures signal distribution solutions, Introduces its Cloud Digital Signage Solution, MuxLab's DigiSign Cloud is a transformative cloud-based digital signage solution. It enables seamless content management, dynamic creation, and real-time updates across diverse locations. Paired with the DigiSign Android Signage Player, it offers scalability, user-friendly interfaces, and empowers businesses to enhance brand communication with impactful visual displays.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Digital Signage Market Characteristics
3. Digital Signage Market Trends And Strategies
4. Digital Signage Market - Macro Economic Scenario
5. Digital Signage Market Size And Growth
…..
27. Digital Signage Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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