Digital Signage Market by Offering (Hardware, Services, Software), Type (Conventional, Smart), Application - Global Forecast 2024-2030

Digital Signage Market by Offering (Hardware, Services, Software), Type (Conventional, Smart), Application - Global Forecast 2024-2030

The Digital Signage Market size was estimated at USD 31.12 billion in 2023 and expected to reach USD 33.34 billion in 2024, at a CAGR 7.67% to reach USD 52.21 billion by 2030.

The digital signage market encompasses designing, developing, manufacturing, distributing, and applying display technologies and solutions to present dynamic content and information in public and commercial spaces. These systems typically comprise display panels, media players, content management systems (CMS), software applications, and networking infrastructure components facilitating communication between devices. The increasing demand for personalized advertising content with real-time data updates and the rising adoption of digital signage by sponsors in entertainment and sports events led to high adoption rates across various industries. The initial setup costs of digital signage systems can be high, especially for SMEs, and the availability of low-cost alternatives for advertisement hampering market demand. Implementing IoT connectivity offers new possibilities for integrating advanced sensors into digital signage networks, enabling targeted content delivery based on location or demographic data, further fueling the market growth.

Regional Insights

The Americas region has observed a developed landscape in the digital signage market due to its large consumer base and high purchasing power. The country boasts cutting-edge research facilities, a strong presence of leading market players, and several government initiatives that encourage the adoption of digital technologies in various sectors have fueled the market adoption in the region. Europe region has a significant landscape in the digital signage market driven by innovative digital campaigns in retail malls and airports across these countries that contribute significantly to the market growth. Furthermore, adopting energy-efficient displays with eco-friendly materials has gained traction among EU businesses. The APAC has observed a rapidly growing landscape in digital signage adoption due to its vast population and rapid urbanization. The high degree of technological advancement, with leading market players investing heavily in research & development, and substantial government initiatives encouraging investment in technology infrastructure, resulting in more opportunities for local players to innovate and expand their offerings.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Digital Signage Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Increasing use of digital signage across retail sector worldwide
    • High adoption by sponsors in entertainment and sports events
    • Investments in production of digital signage boards
    • Market Restraints
      • High costs associated with manufacturing and installation
      • Market Opportunities
        • Integration of advanced features in digital signage boards
        • Introduction of power-efficient signage boards
        • Market Challenges
          • Availability of low-cost alternatives for advertisement and promotion
          • Market Segmentation Analysis
            • Type: Increasing preference for smart digital signage
            • Product: Emerging inclination toward innovative video wall
            • Offering: Significant adoption of digital signage hardware providing the necessary components to display content
            • Application: Emerging utilization of digital signage in retail applications
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Digital Signage Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Digital Signage Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Samsung's Launch of Visual eXperience Transformation (VXT): Revolutionizing Digital Signage with Integrated Cloud-Native Content Management
              
              Samsung Electronics launched the Visual eXperience Transformation (VXT) digital signage platform. This cloud-native Content Management Solution (CMS) is ingeniously crafted to amalgamate content creation and remote signage management within a singular, secure ecosystem. The VXT platform is designed meticulously as an all-encompassing solution, empowering businesses to curate and administer digital displays seamlessly. This strategic move by Samsung paves the way for enhanced digital communication and advertising strategies, offering businesses a streamlined approach to managing their digital signage needs.
              
              Strategic Partnership Announcement: Broadsign and Zitcha Collaborate on Enhanced Retail Digital Marketing Solutions
              
              Broadsign forged a strategic partnership with Zitcha, a unified omnichannel retail media platform to revolutionize on-site and off-site retail digital marketing and out-of-home (OOH) advertising solutions and strategies. Their combined expertise promises to enhance the effectiveness and reach of digital signage for businesses looking to elevate their consumer engagement and advertising efforts.
              
              GigaCloud Technology Enhances Retail Integration with Strategic Acquisition of Wondersign
              
              GigaCloud Technology Inc. acquired Apexis, Inc., which operates under the trade name Wondersign, a player in cloud-based digital signage and electronic catalog management SaaS. Wondersign is renowned for its innovative Catalog Kiosk software. This acquisition signals a significant stride in GigaCloud's strategy, particularly with the introduction of the GIGA IQ package, which aims to revolutionize retail experiences by integrating additional interactive features and enhanced product search and transaction capabilities into the GigaCloud Marketplace.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Digital Signage Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Digital Signage Market, highlighting leading vendors and their innovative profiles. These include American LED Wall Company, AUO Corporation, Barco NV, Cisco Systems Inc., Daktronics, Inc., Electronic Displays Inc., GALAXY SIGNAGE, Goodview Company, Hangzhou Hikvision Digital Technology Co., Ltd., Hitachi Ltd., İnnova Bilişim Çözümleri Anonim Şirketi, LG Electronics Inc., LianTronics Co., Ltd., Microsoft Corporation, NEC Corporation, Neoti LLC, Panasonic Corporation, Planar Systems Inc., ProDVX, Samsung Electronics Co. Ltd., Scala, Scala by STRATACACHE, Sharp Corporation, Sony Corporation, Toshiba Corporation, Visix, Inc., Winmate Inc., and Ynvisible Interactive Inc..
            
            Market Segmentation & Coverage
            
            This research report categorizes the Digital Signage Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Offering
              • Hardware
                • LCD/LED Display
                • Media Players
                • OLED Display
                • Projector or Projection Screens
                • Services
                  • Consulting Services
                  • Installation Services
                  • Maintenance & Support Services
                  • Software
                    • Content Management System
                    • Edge Server Software
                    • Type
                      • Conventional
                      • Smart
                        • AI-Based Signage
                        • Context Aware Signage
                        • IoT-Enabled Smart Signage
                        • Application
                          • Banking, Financial Services & Insurance
                          • Corporate
                          • Education
                          • Government
                          • Hospitality
                          • Retail
                          • Transportation
                          • Region
                            • Americas
                              • Argentina
                              • Brazil
                              • Canada
                              • Mexico
                              • United States
                                • California
                                • Florida
                                • Illinois
                                • New York
                                • Ohio
                                • Pennsylvania
                                • Texas
                                • Asia-Pacific
                                  • Australia
                                  • China
                                  • India
                                  • Indonesia
                                  • Japan
                                  • Malaysia
                                  • Philippines
                                  • Singapore
                                  • South Korea
                                  • Taiwan
                                  • Thailand
                                  • Vietnam
                                  • Europe, Middle East & Africa
                                    • Denmark
                                    • Egypt
                                    • Finland
                                    • France
                                    • Germany
                                    • Israel
                                    • Italy
                                    • Netherlands
                                    • Nigeria
                                    • Norway
                                    • Poland
                                    • Qatar
                                    • Russia
                                    • Saudi Arabia
                                    • South Africa
                                    • Spain
                                    • Sweden
                                    • Switzerland
                                    • Turkey
                                    • United Arab Emirates
                                    • United Kingdom
                                    
                                    
                                    Please Note: PDF & Excel + Online Access - 1 Year