Global Hospitality Digital Signage (Digital Menu Board) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Hospitality Digital Signage (Digital Menu Board) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Hospitality Digital Signage (Digital Menu Board) market finds that the global Hospitality Digital Signage (Digital Menu Board) market reached a value of USD 2645.25 million in 2022. It’s expected that the market will achieve USD 3932.11 million by 2028, exhibiting a CAGR of 6.83% during the forecast period.

Short-term Impact

Manufacturers face threats to start
Affected by the COVID-19 epidemic, the production of the global manufacturing industry has been affected. Insufficient supply of raw materials and the inability of workers to go to work have forced companies to fail to function normally. In the short term, it will affect production. And some small manufacturers may go bankrupt due to the impact of the epidemic.

Long-term Impact

Production began to recover, and demand gradually picked up
In the long run, the epidemic has been eased and controlled to some extent. Most areas are gradually returning to work and life, and the impact of the epidemic on the industry will gradually weaken. Demand from the downstream gradually picks up, the factory starts production activities, and the industry will operate normally. However, due to the impact of COVID-19, some small players in the industry are facing problems such as insufficient funding and customer loss and may be eliminated.

Difficult to promote in small restaurants

At present, the main users of Digital Menu Board are large or neutral catering companies, and small catering stores or personal catering stores use less. For small stores, traditional menus or customized menus can meet most of their needs, so this part of customers is more difficult to win.

The increasing innovation ability in the software field will become an opportunity for market development

Over time, software running digital signage is becoming more and more powerful. Innovations in the software field have promoted technological progress and are easy to use in digital signage solutions. Due to the continuous development of digital signage software technology and the increasing demand for data analysis and content management, the software market is expected to achieve rapid growth during the forecast period. Hardware equipment has a long service life, so downstream customers do not buy it often. Due to the need to regularly purchase and upgrade software licenses, the software market is growing at a relatively high rate.

The adoption rate of digital signage products in the market is increasing

Increasing technological progress in display products has provided digital signage with higher resolution screens. The higher the resolution, the more effective the signage is in attracting audience attention. Digital signage helps attract a large number of customers through effective advertising and promotion. Digital signage can increase consumer awareness leading to the increasing adoption of digital signage products in the market, which is the main driver of market growth.

Region Overview:

In global comparison, a significant portion of the revenue was generated in Asia-Pacific (35.14% in 2021).

Company Overview:

Samsung is one of the major players operating in the Hospitality Digital Signage (Digital Menu Board) market, holding a share of 31.36% in 2022.

Samsung

Samsung manufactures a wide range of consumer and industrial electronic equipment and products such as semiconductors, personal computers, peripherals, monitors, televisions, and home appliances including air conditioners and microwave ovens. The Company also produces Internet access network systems and telecommunications equipment including mobile phones.

LG Electronics

LG Electronics manufactures and markets digital display equipment and home appliances. The Company produces and markets flat panel televisions, A/V products, washing machines, air conditioners and refrigerators as well as telecommunications equipment such as smart phones and tablets.

Segmentation Overview:

By type, Hardware segment accounted for the largest share of market in 2021.

Application Overview:

The market's largest segment by application is the segment Quick Serve Restaurant, with a market share of 75.63% in 2021.

Key Companies in the global Hospitality Digital Signage (Digital Menu Board) market covered in Chapter 3:

NCR Corporation
Samsung
Mvix
Daktronics
Dai Nippon Printing
LG Electronics
NEC Corporation
TouchBistro
Cineplex Digital Media
NoviSign
Fastsigns
Goodview
Coates Group
Stratacache (Scala)

In Chapter 4 and Chapter 14.2, on the basis of types, the Hospitality Digital Signage (Digital Menu Board) market from 2018 to 2029 is primarily split into:

Hardware
Software

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Hospitality Digital Signage (Digital Menu Board) market from 2018 to 2029 covers:

Quick Serve Restaurant
Casual Dining
Family Style
Fine Dining or High End
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)