The Global Digital Signage Market Size Was Valued at US$ 21.9 Billion in 2021 and Is Expected To Reach US$ 42.54 Billion by 2030, Poised To Grow at a CAGR of 7.7% From 2022 to 2030.

Digital Signage Market Overview

This market is growing because more and more people want to promote their products and services online in order to get the attention of their target audience in an effective way. Also, the demand for 4K digital sign displays with built-in software and a media player is growing because they offer customers an affordable Ultra HD digital signage solution. This is also expected to drive the demand. Some of the things that are expected to drive product demand are the development of new products, like home monitoring systems, leak detector systems, and so on, and the creation of complicated financial products, like forex cards, that need short, informative ads.

Also, the number of people who want to use high-tech products that need digital information management and guidance that can be accessed from far away is growing. This is one of the main things that will drive the global industry over the next five years. Digitized signs provide high-quality information to a large number of people by putting large screens in places where the target audience is concentrated. With digital display technology, information is shown to customers in a digital format that includes motion and pictures. This is more effective than the old ways of getting in touch with customers. Also, products like track heat paths and gaze tracking have been made possible by combining biometric technology with digital signs.

Gaze tracking technology helps find places where there are a lot of people, which helps companies keep track of how people use their products to market them more effectively. So, the demand is likely to grow over the next few years as more people use the technology mentioned above. In the long run, consumers are becoming more aware of the problems and complexity of traditional advertising, such as short-lived print marketing and so on. This is making people more likely to use digital advertising. Display designers, researchers, and advertising companies are also spending more money to improve the technology behind how a product looks.

Market Dynamics

Drivers:

With the arrival of new display technologies like OLED displays, microLED displays, and electronic paper displays (EPD), the global display industry is expected to grow quickly across the world of digital signage market revenue impact report. Along with the growing use of LED and LCD displays in digital signage, OLED, microLED, and electronic paper displays (EPD) are also expected to be in high demand in the coming years. This is because more and more information is being shown on more advanced displays. Some companies that design and make advanced display technologies, like OLED displays, are Samsung Electronics (South Korea), LG Electronics (South Korea), and Sharp (Japan). For example, Panasonic released its first commercial transparent OLED displays with 55-inch LG panels in November 2020.

Also, companies like Leyard (US), Sony (Japan), and Samsung Electronics (South Korea) are working on direct-view fine-pixel LED displays that will be used by different display manufacturers in their high-end displays for signage. As the demand for direct-view fine-pixel LED displays is expected to be higher than that of other display technologies, the market for these displays is becoming very competitive. The growth of the digital signage market share is helped by the fact that display technology is always getting better. This is because displays help companies deliver relevant content to attract more customers.

Red, green, and blue (RGB) pixels are used in microLED displays to directly emit light and colours without the need for colour filters or backlit units. They have a quick response time, a high brightness level, and use little power. MicroLED displays are great for head-mounted displays because they are thin, light, bright, and have an improved colour gamut, fast response time, and long battery life (HMD). Companies like Samsung Electronics (South Korea) and Sony (Japan) use microLED displays to make large video walls and signs that can be used in a variety of retail and business settings.

Restraints:

In the future, the growth of the digital signage market is likely to be slowed by the fact that major retailers and product suppliers are spending more on advertising online and on TV. The number of people using the Internet around the world is growing quickly, and advertising companies are using online promotions to reach a wide audience. After the COVID-19 outbreak and its spread, there has been a rise in the use of online advertising and broadcasting. Also, the pandemic has hurt the economy of several retail businesses around the world.

Because of this, these businesses are focusing more than ever on online advertising to keep the cost of physical and stationary advertising, like digital signage, down. This is likely to mean that in the near future, there will be less need for digital signage products for advertising. Online advertising and broadcasting have had a negative effect on the growth of the digital signage market trends for a long time, even before digital billboards and other signage solutions were hit by the COVID-19. This is mostly because several countries have put in place strict rules in the past few years to limit the use of digital billboards for outdoor electronic advertising on highways and in heavily populated urban areas. This is to protect the environment and people's health from the harmful effects that digital billboards can have.

Internet advertising is a big reason why the global ad-spend is growing so quickly, and it's also helping to spur new digital ad innovations. Because of this, businesses all over the world are more likely to spend a lot of money on Internet advertising than on stationary advertising. The growth of online advertising could make it harder for the digital signage market to grow.

Opportunities:

The COVID-19 virus spread all over the world, which made it hard for companies and their employees to keep doing business as usual in digital signage market revenue impact report. In these hard times, cloud computing has become a way for businesses to stay connected. Several companies that offer digital signage solutions offer cloud-based digital signage platforms and solutions. These platforms and solutions use web-based digital signage software to show messages and information on screens. These cloud solutions give you a lot of freedom and dependability.

They are easier to use than digital signage solutions that are based on a server. Cloud-based digital signage platforms are also very scalable, which makes them an obvious choice for applications where content needs to be controlled in multiple locations. Cloud-based digital signage platforms keep up-front costs low, reduce the need for on-premises infrastructures, and lower the total cost of ownership (TCO) because there is no need to buy and maintain a server on-premises. With a subscription model, businesses can use cloud-based digital signage platforms based on what they need for their business. This is expected to speed up the adoption of cloud-based digital signage even more.

It is likely that the spread of COVID-19 has made it easier for businesses to use advanced web-based tools for digital signage market analysis. This gives businesses more power to interact with and talk to their customers. For example, Scala released Designer Cloud, a web-based tool for digital signage that makes it easy to design and show media. It has an easy-to-use, intuitive user interface (UI) that lets you make digital experiences that are fun and interesting. People who have had these kinds of experiences are likely to use cloud-based digital sign platforms more and help the digital signage market grow.

Challenges:

Because hardware and software for digital signage have improved in the digital signage market, it can now be used in many different ways. Digital signage is used by a number of private and public organisations to show real-time information, ads, product information, broadcast messages or news, etc. Messages, meetings, and other important information are being sent out by a number of other companies by using indoor use in their own buildings. But more people are using digital signs, which has led to more cyber threats like phishing, ransomware attacks, malware downloads, and so on. In 2018, for example, a ransomware attack at the Bristol Airport in the UK shut down all the screens that showed flight information. The attack was aimed at the airport's administrative systems and caused problems with airport services.

Segment Overview

Mode of Screen Type

The market is split into Video Walls, Video Screens, Transparent LED Screens, Digital Posters, Kiosks, and Others, based on the type of screen. In 2021, the segment of the market for video walls is expected to have the largest market share, at over 27%, and will continue to lead the market during the forecast period. The market share for video walls and kiosks was the highest, followed by video screens. Video walls have a big share of the market in shopping malls and other public places. Kiosks are used to give information and advertise in places like schools and stores.

Due to their high resolution and ability to be seen through, transparent LED screens are expected to grow the fastest over the next few years. Aside from that, they are good at using energy, so they use less energy. The growth of the digital signage market is thought to be helped by all of these factors.

Component Insights

Based on the type of part, the hardware component segment is expected to lead the market with a 56.60% share of the market's revenue in 2021 and will keep that position in the years to come.

Displays, parts needed to make a digital panel, banners, and other things are all types of hardware components. With new technologies like 1080p, 4K, and 8K displays coming out quickly, the market is likely to see more demand for hardware parts. Also, improvements in 3D technology have made it possible to make 3D displays without glass, and graphic design firms are now focusing on making 3D holographic display cases. For example, HYPERVSN, a European company that makes holographic technology, sells them for a wide range of uses, from mall advertising to showpieces at trade shows.

Technology Insights

The market is split into LCD, LED, and Projection based on the technology. In 2021, more than 47% of the revenue came from the LED segment, which is expected to grow during the forecast period because its displays are so good. LCD technology's wide use in the advertising and marketing industry is also expected to make a big difference in the growth of the market.

Location Insights

Based on location, it is expected that the in-store location segment will bring in more than 73% of the total revenue in 2021. The high share is because there is more demand for products in stores. Due to the rapid growth of retail stores around the world, this segment will continue to grow over the next few years. The growth of the out-store location segment is likely to be helped by the growth of the transportation industry.

Content Category Insights

The Digital Signage Market is split into broadcast and non-broadcast based on the type of content. In 2021, the broadcast content category will have 81% of the market, and it is expected to grow at a CAGR of 7.9% over the next few years. There are more groups within the broadcast segment, such as weather, sports, news, and others. It is thought that the sports and news segment will contribute a lot to the growth of the market.

Screen Size Insights

The Digital Signage Market is split into three groups based on the size of the screen: Below 32 inches, 32 to 52 inches, and more than 52 inches. In 2021, the below 32-inch display segment is expected to have 41% of the market's revenue. This is because demand for this type of signage is growing in the residential and retail sectors. Customers are more likely to buy digital signs with 32- to 52-inch screens because their disposable income is growing quickly and they want to watch high-quality content. The transportation and advertising industries will grow a lot, which will be good for the rise in demand for displays bigger than 52 inches.

Application Insights

The market is split into retail, hospitality, entertainment, stadiums and playgrounds, corporate, banking, healthcare, education, and transportation, based on where the products are used. In 2021, 21% of the market's revenue will come from the retail sector, which is expected to grow a lot over the next few years. The retail industry is the main one that uses digital ads to market and promote products and services, and this is expected to help the digital signage market grow.

Regional Analysis

In 2021, North America is expected to have more than 35% of the market's revenue. The main things that drive market growth in this region are the presence of major market players and the high demand for digital signs in the retail industry.

In the next few years, the Asia-Pacific region is expected to grow a lot because more signs are being used in corporate offices, hospitals, retail stores, and hotels. Also, more people are going to malls and multiplex theatres in developing economies because they have more money to spend. All of these things are thought to help the digital signage market in this region grow.

Scope Analysis:

Recent Developments

• In November 2020, Sharp launched the new massive 8K Ultra-HD professional LCD. The new display packs in 33 million pixels and employs a wide color gamut color filter and optimized LED backlight phosphors. This helps the display to deliver brilliant clarity and reproduce improved gradations of red, blue, and green in the pixels. These benefits make the LCD suitable for use in corporate lobbies, museums, showrooms, and video production.
• In November 2020, Panasonic commercially launched its new transparent OLED display module, which boasts of high image visibility. The 55-inch display module uses a self-illuminating transparent OLED display panel that does not require a backlight. The new product is suitable for use in commercial complexes, transit advertisements, retail stores, and public facilities such as lounge, museum, etc.
• In October 2020, BrightSign announced its partnership with NEC Display Solutions to deliver integrated digital signage solutions for large-format displays. This includes the full range of NEC MultiSync V Series large-format displays integrated with BrightSign OPS digital signage media player. The new partnership aims at delivering relevant, targeted digital content to inform, entertain, direct, or inspire viewers in retail stores, museums, corporate environments, restaurants, and other public settings.
• In September 2020, Samsung announced its partnership with d’strict, a Seoul-based design studio company, to offer groundbreaking new media art on Samsung’s SMART signage. The partnership will lead to the production of new media art pieces for potential customers of Samsung SMART signage and will showcase enhanced content on the latest display technology. Additionally, the partnership is aimed at broadening the opportunities for Samsung SMART signage beyond simple information delivery and allow businesses to use these displays as media art platforms.
• In September 2020, Barco announced the launch of WallConnect Cloud, a new cloud-based remote monitoring and management platform for its video walls. The cloud solution offers remote diagnostics and management for optimal uptime, allowing system integrators to monitor and diagnose their installed base of video walls, enabling them to remotely check the status, diagnose, and control a number of critical parameters.

Market Segmentation

This portion of the study on the Digital Signage Market gives detailed data on the segments at the country and regional level, thereby aiding the strategist in determining the target demographics for the relevant product or service and the impending opportunities.

By Screen Type

• Video Walls
• Video Screens
• Transparent LED Screens
• Digital Posters
• Kiosks
• Others

By Component

• Hardware
• Software
• Services

By Technology

• LCD
• LED
• Projection

By Location

• In-store
• Out-store

By Content Category

• Broadcast

• News
• Weather
• Sports
• Others
• Non-Broadcast

By Screen Size

• Below 32 Inches
• 32 to 52 Inches
• More than 52 Inches

By Application

• Retail
• Hospitality
• Entertainment
• Stadiums & Playgrounds
• Corporate
• Banking
• Healthcare
• Education
• Transportation

By Companies

• Samsung Electronics (South Korea)
• LG Electronics (South Korea)
• Sharp Corporation (Japan)
• Leyard Optoelectronic (Planar) (US)
• Sony (Japan)
• AU Optronics (Taiwan)
• BARCO (Belgium)
• Panasonic (Japan)
• Goodview Electronics (China)
• Stratacache (US)
• BrightSign
• LLC (US)
• E Ink Holdings (Taiwan)
• Omnivex Corporation (Canada)
• Delta Electronics (Taiwan)
• Exceptional 3D (US)
• Daktronics (US)
• Christie Digital Systems (US)
• Intuiface (France)
• and BenQ (Taiwan)