The Global Digital Signage Market size is expected to reach $29.8 billion by 2024, rising at a market growth of 8.6% CAGR during the forecast period. The growing awareness among consumers considering the drawbacks and complexity of conventional advertising like short-lived print marketing is instigating the adoption of digitized advertisement. Furthermore, the innovative efforts initiated by the display designers, researchers, and advertisement companies are making more expenditures on the display technology of a product. Eventually, all these factors are expected to catalyze market growth. Digital signage is a dynamic electronic signage which is used for displaying multimedia content in order to engage viewers. Modern digital signage consists of a controller which uses a digital connection for providing a crisp output signal to digital displays like plasma screens or an LCD panel. It also comprises of a playback device that uses a digital storage medium like a hard drive which helps in storing digital content locally, ensuring a smooth playback. In various cases, devices can be remotely controlled over the Internet to enable content updates, schedule changes, and compliance reporting.
Global Digital Signage Market Size
Based on Location, the market is segmented into Out-Store and In-Store. Based on Technology, the market is segmented into LCD, LED, and Projection. Based on Type, the market is segmented into Video Walls & Screen, Kiosks, Digital Posters, and Others. Based on Component, the market is segmented into Hardware, Software, and Services. Based on Size, the market is segmented into Below 32 Inches, 32 to 52 Inches, and More than 52 Inches.
Global Digital Signage Market Share
Based on End User, the market is segmented into Retail & Corporate, Hospitality & Entertainment, Infrastructural, Institutional, and Others. Over the past few years, the commercial sector around the globe has experienced significant changes due to rapid technological advances and digitization. Therefore, well-established competitors as well as latest market participants are presently investing in product development, brand enhancing, and customer retention and leadership, leading to enhanced rivalry among them. As a consequence, all these businesses are investing to improve the image of their products and services by advertising them through internet marketing, exhibitions and personalized display installations in their indoor and outdoor advertising campuses. Among all, the development of digital signage has been the most substantial. It has evolved from a simple marketing medium to an efficient strategy for retail engagement. Rapid technological advances and digitization in the business industry are thus pushing the digital signage market. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East and Africa.
KBV Cardinal Matrix
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Samsung Electronics Co. Ltd., Omnivex Corporation, Panasonic Corporation, NEC Corporation, Sony Corporation, STRATACACHE Inc., Leyard Optoelectronic Co., Microsoft Corporation, Delta Electronics Inc., and LG Electronics Inc. Based on the Analysis presented in the Cardinal matrix, Samsung Electronics Co. Ltd. and Microsoft Corporation are some of the forerunners in the Digital Signage Market.
Market Segmentation:
By Location
By Technology
By Type
By Component
By Size
By End User
By Geography
Companies Profiled
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