The global Digital Signage market size is expected to be worth around US$ 48.23 billion by 2030, according to a new report by Vision Research Reports.
The global Digital Signage market size was valued at US$ 31.49 billion in 2020 and is anticipated to grow at a CAGR of 10.5% during forecast period 2021 to 2030.
Get Sample Copy of This Report (Including TOC, List of Tables & Figures, and Chart)@ https://www.visionresearchreports.com/report/sample/38396
Digital Signage Market (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, 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) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030
Growth Factors
The creation and distribution of content with digital signage are effective promotional strategies for enterprises, as they can reach out to a larger audience base. This is anticipated to spur the adoption of digitized marketing via signage across the corporate and hospitality sectors.
Digital screens equipped with 4K technology have high demand as they offer enhanced displays. Thus, the demand for advertising content with better sharpness and enhanced quality is fueling product adoption. Moreover, the incorporation of LED-backlit panels has led to additional energy savings at a considerable level. Thus, the reduction in energy consumption due to the adoption of advanced technologies is luring enterprises to opt for digital signage.
The software providers are focusing on the new entrants of the industry by providing design solutions that are compatible with the Android operating systems. The emergence of , coupled with the increasing adoption of, is expected to enable the collection of vital operational and maketing data. Digital signage helps companies decrease their long-term operational costs by reducing the use of paper for advertising and frequent damages and changes that are associated with traditional marketing activities.
Report Highlights
The video walls segment accounted for the largest market share of over 37% in 2020 and is expected to retain the leading position during the forecast period. The video walls and kiosks segments gained a high share in 2020 followed by the video screens segment. Video walls and screens have captured a major market share across shopping malls and other public places. Kiosks are generally used to provide information and for advertising in institutes and retail verticals.
However, transparent LED screens are expected to emerge as the fastest-growing segment expanding over the forecast period. Transparent LED screens offer high resolution and a transparency level beyond 80%. Besides, they are adequately efficient in terms of energy, thus, reducing energy consumption and optimizing the overhead expenditure of users. All these factors are anticipated to catapult the demand for transparent LED screens over the coming years.
The hardware component segment accounted for the largest revenue share of 66.56% in 2020 and is anticipated to maintain its position during the forecast period. Hardware components consist of displays, components required to manufacture a digital panel, banners, and so on. Compared to software, the hardware requirement is huge, and thus, the segment accounts for a large share in the industry. Growing technological innovations, such as 1080p, 4K, and 8K display, are expected to propel the demand for hardware components, thereby supporting the segment growth. Advancement in 3D technology has developed glasses-free 3D displays. Furthermore, the graphics design agencies are shifting their focus to 3D holographic display cases. For example, HYPERVSN, a European provider of holographic technology is providing them for various applications ranging from advertising in malls to showpieces at trade shows.
The retail sector accounted for the largest market share of 30.42% in 2020. Retail is the most prominent sector using digitized advertisements for marketing and promoting products and services. The competition among the retailers owing to the variety of product offerings in the industry has led to the growing awareness of effective marketing strategies. Thus, digital posters are widely used in the retail sector as digitized advertising is an effective way of marketing.
The in-store locations segment accounted for the largest revenue share of more than 82% in 2020. The high share is attributed to the increased product demand from retail stores since the retail sector is the most promising application segment in the global market. The segment is estimated to retain its dominant share exhibiting a considerable growth rate throughout the forecast period due to consistent demand. In-store locations include the deployment of digital posters within closed premises, such as malls, corporate offices, retail shops, banks, and healthcare centers.
The non-broadcast segment led the market in 2020 with the largest revenue share of over 67%. However, the broadcast content category is expected to emerge as the fastest-growing segment expanding at a CAGR of over 10% from 2021 to 2030. The broadcast content category is further segregated into the news, weather, sports, and others. The sports segment dominated the segment in 2020 and accounted for the highest market share. The increasing adoption of digital signage for displaying sports-related content across the stadium and sports ground during the tournaments is driving the segment growth.
The below 32 inches display segment accounted for the largest revenue share of 45.89% in 2020. The high share is attributed to the greater adoption of this type of signage in the retail sector. Shop dimensions are one of the most important reasons for concern in retail shops. Due to the limitations of the area, the adoption of smaller-sized digital advertisements is greater. Thus, the segment accounted for a healthy market share and is anticipated to dominate the industry over the forecast period.
The LED segment accounted for the largest revenue share of over 55% in 2020 and will expand further at the fastest CAGR from 2021 to 2030. The LCD technology is also estimated to register significant growth in the years to come. LCD technology is one of the most extensively adopted technologies in the advertisement & marketing industry. The ease of producing LCDs and their lower manufacturing costs are a few factors behind the significant adoption of LCD technology in digital posters. However, LEDs have successfully made a mark as a standard product with their high-quality display. Manufacturers remain aspirant of the designing of flat-paneled, larger, brighter, and slimmer displays.
North America emerged as the dominant regional market in 2020 with a revenue share exceeding 55%, followed by Europe. The high share is attributed to the presence of dedicated product suppliers along with the high demand for signage in the retail industry of the region. The U.K., Germany, and the U.S., in particular, are projected to exhibit considerable growth primarily due to rising R&D endeavors by the product manufacturers and increasing government initiatives to install digital signage at various offices for maintaining a continuous information flow system. Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period. The growth can be attributed to the growing awareness about the product benefits.
| Report Coverage | Details |
| Market Size | US$ 48.23 Billion by 2030 |
| Growth Rate | CAGR of 10.5% From 2021 to 2030 |
| Base Year | 2020 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Screen Type, Component, Technology, Location, Content Category, Screen Size, Application, Region |
| Companies Mentioned | ADFLOW Networks, BrightSign, LLC, Cisco Systems, Inc., Intel Corp., KeyWest Technology, Inc., LG Electronics (LG Corp.), Microsoft Corp., NEC Display Solutions, Omnivex Corp. |
Key Players
Market Segmentation
The study objectives of this report are:
Buy This Premium Research Report, click here@ https://www.visionresearchreports.com/report/cart/38396 or call: +1 9197 992 333
Vision Research Report, Recently Announced New Report on "Smart Lock market - Global Industry Analysis,…
Vision Research Report, Recently Announced New Report on "2D barcode reader market - Global Industry…
Vision Research Report, Recently Announced New Report on "commercial refrigeration equipment market - Global Industry…
Vision Research Report, Recently Announced New Report on "Restaurant Point-of-Sale Terminal market - Global Industry…
Vision Research Report, Recently Announced New Report on "vacuum cleaner market- Global Industry Analysis, Market…
Vision Research Report, Recently Announced New Report on "household refrigerators and freezers market - Global…