Digital Signage Market Assessment, By Component [Hardware, Software], By Deployment [Cloud, On-premises], By Installation [Indoor, Outdoor], By Type [Dynamic, Automated, Advertising, Interactive], By End-user [Retail, Hospitality, Transportation & Logisti

Digital Signage Market Assessment, By Component [Hardware, Software], By Deployment [Cloud, On-premises], By Installation [Indoor, Outdoor], By Type [Dynamic, Automated, Advertising, Interactive], By End-user [Retail, Hospitality, Transportation & Logistics, Healthcare, Media & Entertainment, Others], By Region, Opportunities and Forecast, 2016-2030F

Global digital signage market has experienced significant growth in recent years and is expected to maintain a strong pace of expansion in the coming years. With projected revenue of approximately USD 27.08 billion in 2022, the market is forecasted to reach a value of USD 50.9 billion by 2030, displaying a robust CAGR of 8.2% from 2023 to 2030.

Digital signage uses LCD, LED, and projection technologies to display content such as digital images, video, streaming media, and information. The digital signage market's growth is driven by factors such as the increasing adoption of digital signage in the retail and healthcare sectors, the decreasing cost of displays, and the demand for digital-out-of-home (DOOH) advertising. Interactive digital signage solutions, such as kiosks and touchscreen display, are becoming more popular. It allows personalized experiences, interactive wayfinding, and customer engagement.

Moreover, interactive digital signage has sparked a technological revolution across diverse retail, finance, smart cities, marketing, and transportation sectors. Key trends in the digital signage market include advancements in media players and the adoption of innovative screen technologies. For example, companies like Ebebek, a Turkey-based mother and baby product retailer, and Phygital Mind, a retail specialist in Istanbul, have utilized large interactive kiosks to introduce a novel concept. These kiosks seamlessly integrate e-commerce with assisted sales, aiming to enhance the overall customer experience.

Increasing Adoption of Cloud-Based Content Management

Cloud-based CMS allows businesses to manage their digital signage content remotely, providing the flexibility to update content in real-time with internet connectivity. Scalability is essential for businesses with multiple locations, as they can easily control and customize content for various displays. Cloud-based systems enable real-time updates and changes to content. Businesses can instantly push promotions, announcements, or emergency alerts across all their digital displays, ensuring the information is always current and relevant. Cloud-based solutions often offer APIs (Application Programming Interfaces) that enable seamless integration with third-party services and applications. The integration capability allows businesses to enhance their digital signage with additional features like social media feeds, weather updates, or live news streams. Also, these solutions eliminate the need for expensive on-premise servers and maintenance. The cost-effective approach allows businesses to allocate resources more efficiently, making digital signage more accessible to smaller enterprises with limited budgets.

For example, in November 2022, digital signage company ScreenCloud unveiled its ScreenCloud OS, a Linux-based operating system tailored for employee communications and engagement. Specifically designed for deskless workspaces in sectors such as manufacturing and logistics aiming to streamline large-scale operations. The system utilizes the Station P1 Pro media player for plug-and-play functionality and incorporates cloud CMS capabilities.

Advanced Display Resolutions to Scatter the Market Expansion

The digital signage industry is expected to propel forward, owing to the ongoing innovations in display technologies. High-resolution displays like 4K and 8K, OLED screens, and interactive touchscreens have transformed the landscape of visual communication. These advancements enhance the visual appeal by delivering crisp, vibrant, and detailed images, making content more engaging and visually striking. Moreover, interactive touchscreens enable direct engagement, allowing users to interact with the displayed content, providing a dynamic and personalized experience. Businesses are increasingly adopting advanced display technologies due to their ability to capture attention and convey messages effectively. The sharpness and clarity of 4K and 8K displays ensures intricate details are visible, making them ideal for showcasing products, advertisements, and information. With their deep blacks and vibrant colors, OLED screens create visually stunning displays that captivate viewers.

For example, in January 2023, Advantech, a service automation solutions provider, unveiled its UBX-110 8K UHD fanless mini box computer, specifically designed for the retail and hospitality signage player markets. The UBX-110 comes equipped with 11th generation embedded Intel Celeron or Intel Core i3, i5, or i7 processors and three video outputs. One of these outputs features a USB-C interface that supports DisplayPort, delivering remarkable 8K UHD video resolution.

North America Holds Largest Share in the Market

Over the projected period, North America is expected to maintain its dominance in the global signage market, primarily due to significant vendors in the United States and their early adoption of advanced technologies. The continuous advancements in display technology further contribute to this market leadership. Additionally, the shift from printed signage to digital signage is becoming increasingly prevalent due to its advantages in terms of security and cost savings.

Digital signage offers benefits, including visualizing safety procedures, which is crucial for developing smart hotels and related industries. The trend is anticipated to boost North American market demand in the future. Digital signage enhances guest interaction in the hotel sector by displaying visually appealing advertisements that modernize lobbies, restaurants, and hallways, creating a more upscale ambiance. Furthermore, interactive wayfinding maps, a digital signage feature, enhance the guest experience by providing self-service information.

Notably, in March 2022, PPDS, a supplier of Philips TVs and digital signage products, announced the integration of the Apple TV app into its Philips MediaSuite Hospitality TVs, further enhancing the interactive capabilities of digital signage in hotels.

Government Regulations

New European Union regulations enforcing stringent energy efficient display standards were enacted in 2023. As part of an EU eco-design initiative, the regulations employ energy efficiency index based on display size and luminance. While professional displays, like those used in digital signage, are exempt. The rules are expected to influence new product development in the business-to-business sector. The regulations, which cap energy consumption, present challenges for 8K displays as it consumes more than double the energy of 4K counterparts. Manufacturers selling 8K devices are likely needed to implement energy-saving presets, potentially limiting the use of 8K capabilities. Samsung, a proponent of 8K TVs, plans to ship devices with default brightness-limiting eco modes, allowing users to switch to higher brightness settings, remaining within the regulatory bounds.

The Indian government has introduced new regulations in 2023 allowing giant digital LED billboards to be installed across the city and state. The rules empower officials to review applications and address irregularities. The digital displays can be placed at various public locations like bridges, bus stands, parks, and railway stations. License is valid for three years, with renewal required every two years in advance. Printed displays can scroll with a dwell time of 10 seconds and a transition time of one second, but animated displays and moving videos are prohibited in busy areas. Design approval from local bodies is mandatory. Application fees for hoardings are USD 24.02 (INR 2,000) with a license fee of USD 72.07 (INR 6,000), which can be increased by up to 20% for LED or LCD advertisements.

Impact of COVID-19

The pandemic accelerated the adoption of touchless technologies. Digital signage, especially interactive kiosks, became essential for providing information without physical contact, in public spaces, retail stores, and healthcare facilities. As economies reopened, digital signage found new applications in guiding people through social distancing measures, displaying real-time occupancy data, and promoting safety protocols. The adaptability showcased the resilience of digital signage in response to evolving needs during the pandemic. However, events and conferences, which often utilized digital signage for promotion and information dissemination, were canceled or moved online. The shift impacted the market, with reduced demand for event-related digital signage solutions.

Key Players Landscape and Outlook

Global digital signage market is witnessing a swift growth trajectory due to the increasing emphasis placed by companies worldwide on establishing advanced display usage. Furthermore, the market expansion is greatly facilitated by increasing cloud-based content management, along with significant investments made by companies to enhance research and development resources, engage in collaboration projects, bolster marketing efforts, and expand distribution networks. These factors collectively contribute to the rapid expansion of the market.

In March 2022, Planar introduced two innovative LED video wall display lines tailored for dynamic events and areas with high ambient light: the Planar Luminate Pro Series and Planar Venue Pro Series. These families incorporate mechanical features that streamline the setup and dismantle processes for temporary and mobile events. Additionally, they offer full front installation and serviceability, making it suitable for temporary and enduring wall-mounted installations.