Digital Signage facilitates the digital/electronic display of audiovisual or multimedia content to disseminate information or run an advertisement. The installations can be seen at a variety of everyday locations, including bus stops, airports, fast food centers, movie theatres, museums, galleries, stadiums and playgrounds, and a lot more. Apart from the physical construction of the signage, which involves the hardware and other necessary infrastructural peripherals, the digital signage market also comprises software and services as its components.
According to this analysis, the Global Digital Signage Market is estimated to have grown to a size of nearly ~US$20 billion in 2022 from ~US$15 billion in 2017. The market is expected to grow further to a size of around US$30 Billion by 2028 at a CAGR of around 7% for the forecasted period of 2022-2028, owing to the technological advancements achieved in display tech that make it easier to reach out to the targeted audience in an effective and engrossing way.
The moderately paced yet steady and consistent growth in the digital signage market is majorly attributed to its capacity to reach out to a large audience with a variety of content options, including digital videos, motion pictures, and more. The methods are far more sophisticated than the traditional modes of advertising, equipped with biometrics, and other advanced features, such as gaze tracking and heat paths. Gaze tracking, for instance, helps find insights on a host of crucial consumer behavior parameters, such as viewer attention, interest, arousal, and more, by analyzing human processing of visual information. Essentially, it helps brands make their content more effective for an acutely targeted audience.
Another factor that has helped the digital signage market to grow is the advancement in display technology. While the major technology components in the market remain LCD, LED, and projection, LED displays, as a standalone category, have advanced a lot with OLED displays, MicroLED displays, and direct-view fine-pixel LED displays. Micro LED displays have gone beyond the capabilities of OLED by removing many of OLED’s inherent drawbacks, such as shorter lifespan, screen burn-in, limited luminosity, etc. Moreover, MicroLEDs support the possibilities of building a more scalable business model by enabling the tiling of smaller modules into a larger display. Not only does this feature help to do away with the requirement for cost-incurring large substrates, but it also helps to segregate the production into multiple geographies. Eventually, it will lead to the emergence of new display makers in new geographies. The direct-view LED display technology products, led by companies like Samsung, have helped introduce video walls with enhanced image quality, deeper contrast ratio, well-balanced color uniformity, and flexible modular design.
Brands increasingly opting to go for online promotions pose a challenge to the growth potential of the digital signage market. According to the ‘IAB Internet Advertising Revenue Report: Full Year 2021’, Social Media advertising in 2021 was up nearly 40% to US$57.7 billion. The growth was driven by the consumers’ growing engagement with platforms like Facebook, Instagram, Snapchat, TikTok, Twitter, and more. The digital signage market is also susceptible to cyber-attacks, including phishing attacks, ransomware, and malware attacks.
Like many other industries, the Digital Signage market also suffered from supply-chain disruptions and manufacturing unit shutdowns. Restrictions on travel and public gatherings also hampered growth. However, many new application areas emerged as governments and public health and information broadcasting authorities started using digital signage kiosks and information displays to make people aware of the precautionary measures. Digital Signage hand sanitizer kiosks with automated dispenser systems also proved effective.
By Component: Component-wise, hardware is estimated to account for the largest segment of the market in 2022. Advancement in display technologies is expected to help this market - going ahead - to retain its dominance.
A host of advancements are happening in the hardware segment. For instance, the display resolution technology can now handle 1080p, 4K, and 8K displays. It is also possible to host three-dimensional displays without the audience requiring 3D glasses to enjoy them.
The fine-pitch LED video walls, capable of 4K and HDR display, are ultra-thin and ultra-light. These video walls are conducive to flat and curved surfaces and can be installed through hanging or stacking. Because of being lightweight and thin, these walls are easy and convenient to transport from one place to another.
By Technology: Technology-wise, the LED segment is accounted for the largest revenue share in the market in 2021.
Advancements in the LED technology segment have been many, including the development of OLED, MicroLED, and direct-view LED displays. Adoption of the LED technology has largely been driven by its high-end display quality and installation-friendly hardware compatibility.
However, many marketers and advertisers also adopt LCD for its budget-friendly features and low production and set-up cost.
By Location: The indoor segment is estimated to account for the largest market share of the digital signage market, location-wise in 2022.
Indoor or in-store locations are more efficient when it comes to reaching out to a targeted audience group through immersive, high-quality displays.
While the retail sector, including retail shops and shopping malls, is highly adept in deploying digital signage efficiently, banks, corporate offices, and healthcare facilities are also leveraging them for increased traction and seamless delivery of crucial messages and instructions.
By Content Category: Content Category-wise, the Broadcast segment is expected to emerge as the fastest-growing during the forecast period of 2022-2028.
The broadcast segment comprises a number of sub-segments, such as News, Weather, Sports, and more. Sub-segments like News and Weather are linked with everyday public life and the smooth running of businesses and markets at large.
However, the field of sports also deploys digital signage for varied purposes, starting from the seamless running of ticket distribution points to advertising the next event. The corporate sector is also fast realizing the benefits of digital signage to drive their vision and policies better.
By Screen Size: In terms of the screen size of the signage, the Below 32 Inches segment is estimated to occupy the largest share of the market. However, the 32 to 52 inches segment is expected to witness the fastest CAGR in the forecast period of 2022-2028.
The market share of the below 32 inches category stems from the fact that it is convenient to put up in a range of locations. Since the Indoor segment drives the market, smaller installations find wider use at small-sized retail shops.
However, adoption of the larger screen-size displays is expected to grow owing to their use in the corporate sector, healthcare industry, and transport facilities.
By Application: The Entertainment segment is estimated to account for the largest share of the market in 2022. However, many other application segments, including Healthcare and Retail are also expected to emerge as significant stakeholders in the industry.
The advancement in technology, especially those achieved in display clarity and immersive quality, is aiding the rise of digital signage. Entertainment industry players are finding the use of these products to be increasingly in their favor as they do not need to compromise the quality of their output.
By Region: Region-wise, North America is estimated to account for the largest share of the market in 2022. However, during the forecast period of 2022-2028, The North American region is expected to account for the largest share as it has a well-formed supply chain of digital signage providers, backed by continuous innovations in the electronics and semiconductor industry.
Awareness about the efficient use of digital signage is increasing in the Asia Pacific market. Growth in the retail industry, travel, and hospitality sectors is also leading to increased adoption, especially in two of the largest consumer economies of India and China.
Large global players constitute ~5% of the market in terms of the number of competitors, while regional players hold the largest share. Some of the major players in the market include ADFLOW Networks, BrightSign LLC, Cisco Systems, Inc., Intel Corp, LG Electronics, NEC Display Solutions, Omnivex Corporation, Panasonic Corporation, Samsung, Scala Digital Signage, etc.
In June 2022, LG Business Solutions USA launched 54-inch bezel-free LED Bloc displays. These displays come with no dividing lines. The LSAC series direct-view LED (dvLED) helps integrate and leverage existing VESA mounting hardware from previous LCD installations.
Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and the report delivered within a maximum of 2 working weeks.
According to this analysis, the Global Digital Signage Market is estimated to have grown to a size of nearly ~US$20 billion in 2022 from ~US$15 billion in 2017. The market is expected to grow further to a size of around US$30 Billion by 2028 at a CAGR of around 7% for the forecasted period of 2022-2028, owing to the technological advancements achieved in display tech that make it easier to reach out to the targeted audience in an effective and engrossing way.
The moderately paced yet steady and consistent growth in the digital signage market is majorly attributed to its capacity to reach out to a large audience with a variety of content options, including digital videos, motion pictures, and more. The methods are far more sophisticated than the traditional modes of advertising, equipped with biometrics, and other advanced features, such as gaze tracking and heat paths. Gaze tracking, for instance, helps find insights on a host of crucial consumer behavior parameters, such as viewer attention, interest, arousal, and more, by analyzing human processing of visual information. Essentially, it helps brands make their content more effective for an acutely targeted audience.
Another factor that has helped the digital signage market to grow is the advancement in display technology. While the major technology components in the market remain LCD, LED, and projection, LED displays, as a standalone category, have advanced a lot with OLED displays, MicroLED displays, and direct-view fine-pixel LED displays. Micro LED displays have gone beyond the capabilities of OLED by removing many of OLED’s inherent drawbacks, such as shorter lifespan, screen burn-in, limited luminosity, etc. Moreover, MicroLEDs support the possibilities of building a more scalable business model by enabling the tiling of smaller modules into a larger display. Not only does this feature help to do away with the requirement for cost-incurring large substrates, but it also helps to segregate the production into multiple geographies. Eventually, it will lead to the emergence of new display makers in new geographies. The direct-view LED display technology products, led by companies like Samsung, have helped introduce video walls with enhanced image quality, deeper contrast ratio, well-balanced color uniformity, and flexible modular design.
Brands increasingly opting to go for online promotions pose a challenge to the growth potential of the digital signage market. According to the ‘IAB Internet Advertising Revenue Report: Full Year 2021’, Social Media advertising in 2021 was up nearly 40% to US$57.7 billion. The growth was driven by the consumers’ growing engagement with platforms like Facebook, Instagram, Snapchat, TikTok, Twitter, and more. The digital signage market is also susceptible to cyber-attacks, including phishing attacks, ransomware, and malware attacks.
Like many other industries, the Digital Signage market also suffered from supply-chain disruptions and manufacturing unit shutdowns. Restrictions on travel and public gatherings also hampered growth. However, many new application areas emerged as governments and public health and information broadcasting authorities started using digital signage kiosks and information displays to make people aware of the precautionary measures. Digital Signage hand sanitizer kiosks with automated dispenser systems also proved effective.
Scope of the Report
The Digital Signage Market is segmented into type, component, technology, application, location, content category, screen size, application, and region. In addition, the report also covers the size and forecasts for the four major regions of the market. The revenue used to size and forecast the market for each segment is USD billion.By Type
- Video Walls
- Video Screens
- Transparent LED Screens
- Digital Posters
- Kiosks
- Others
By Component
- Hardware
- Software
- Services
By Technology
- LCD
- LED
- Projection
By Location
- Indoor
- Outdoor
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
- Transport
- Others
By Region
- North America
- USA
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Indonesia
- AustraliaRest of Asia Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Players
- ADFLOW Networks
- BrightSign LLC
- Cisco Systems, Inc
- Intel Corp
- LG Electronics
- NEC Display Solutions
- Omnivex Corp
- Panasonic Corp
- Samsung
- Scala Digital Signage
Key Trends by Market Segment
- By Type: Video walls accounted for the largest segment of the market, type-wise in 2021. In terms of growth, Transparent LED Screens are expected to grow at the fastest pace, till 2028
- The present market share of video walls is bolstered by its presence across shopping malls, public gathering places, galleries, and exhibition centers
By Component: Component-wise, hardware is estimated to account for the largest segment of the market in 2022. Advancement in display technologies is expected to help this market - going ahead - to retain its dominance.
A host of advancements are happening in the hardware segment. For instance, the display resolution technology can now handle 1080p, 4K, and 8K displays. It is also possible to host three-dimensional displays without the audience requiring 3D glasses to enjoy them.
The fine-pitch LED video walls, capable of 4K and HDR display, are ultra-thin and ultra-light. These video walls are conducive to flat and curved surfaces and can be installed through hanging or stacking. Because of being lightweight and thin, these walls are easy and convenient to transport from one place to another.
By Technology: Technology-wise, the LED segment is accounted for the largest revenue share in the market in 2021.
Advancements in the LED technology segment have been many, including the development of OLED, MicroLED, and direct-view LED displays. Adoption of the LED technology has largely been driven by its high-end display quality and installation-friendly hardware compatibility.
However, many marketers and advertisers also adopt LCD for its budget-friendly features and low production and set-up cost.
By Location: The indoor segment is estimated to account for the largest market share of the digital signage market, location-wise in 2022.
Indoor or in-store locations are more efficient when it comes to reaching out to a targeted audience group through immersive, high-quality displays.
While the retail sector, including retail shops and shopping malls, is highly adept in deploying digital signage efficiently, banks, corporate offices, and healthcare facilities are also leveraging them for increased traction and seamless delivery of crucial messages and instructions.
By Content Category: Content Category-wise, the Broadcast segment is expected to emerge as the fastest-growing during the forecast period of 2022-2028.
The broadcast segment comprises a number of sub-segments, such as News, Weather, Sports, and more. Sub-segments like News and Weather are linked with everyday public life and the smooth running of businesses and markets at large.
However, the field of sports also deploys digital signage for varied purposes, starting from the seamless running of ticket distribution points to advertising the next event. The corporate sector is also fast realizing the benefits of digital signage to drive their vision and policies better.
By Screen Size: In terms of the screen size of the signage, the Below 32 Inches segment is estimated to occupy the largest share of the market. However, the 32 to 52 inches segment is expected to witness the fastest CAGR in the forecast period of 2022-2028.
The market share of the below 32 inches category stems from the fact that it is convenient to put up in a range of locations. Since the Indoor segment drives the market, smaller installations find wider use at small-sized retail shops.
However, adoption of the larger screen-size displays is expected to grow owing to their use in the corporate sector, healthcare industry, and transport facilities.
By Application: The Entertainment segment is estimated to account for the largest share of the market in 2022. However, many other application segments, including Healthcare and Retail are also expected to emerge as significant stakeholders in the industry.
The advancement in technology, especially those achieved in display clarity and immersive quality, is aiding the rise of digital signage. Entertainment industry players are finding the use of these products to be increasingly in their favor as they do not need to compromise the quality of their output.
By Region: Region-wise, North America is estimated to account for the largest share of the market in 2022. However, during the forecast period of 2022-2028, The North American region is expected to account for the largest share as it has a well-formed supply chain of digital signage providers, backed by continuous innovations in the electronics and semiconductor industry.
Awareness about the efficient use of digital signage is increasing in the Asia Pacific market. Growth in the retail industry, travel, and hospitality sectors is also leading to increased adoption, especially in two of the largest consumer economies of India and China.
Competitive Landscape
The Global Digital Signage market is extremely competitive comprising nearly 1,000 players, including globally diversified players, regional players, and country-niche players having expertise in addressing specific display and installation needs relating to one or multiple specific sub-segments.Large global players constitute ~5% of the market in terms of the number of competitors, while regional players hold the largest share. Some of the major players in the market include ADFLOW Networks, BrightSign LLC, Cisco Systems, Inc., Intel Corp, LG Electronics, NEC Display Solutions, Omnivex Corporation, Panasonic Corporation, Samsung, Scala Digital Signage, etc.
Recent Developments Related to Major Players
In the second week of September 2022, Samsung Electronics Co., Ltd. launched two new series of The Wall at the Samsung Display Tech Summit 2022. The launch was in the Southeast Asia and Oceania (SEAO) Region. The Wall series of products comprise Samsung’s advanced Micro LED solutions. Samsung believes its MicroLED technology will offer an efficient and immersive viewing experience in a high-resolution, large-screen format.In June 2022, LG Business Solutions USA launched 54-inch bezel-free LED Bloc displays. These displays come with no dividing lines. The LSAC series direct-view LED (dvLED) helps integrate and leverage existing VESA mounting hardware from previous LCD installations.
Conclusion
The Global Digital Signage market is expected to grow at a steady pace during the forecast period. Multiple factors will drive growth in this segment, including its targeting efficiency and the ability to generate actionable insights about consumer behavior. Technological advancements happening in the industry will also help it capture new markets, especially in application segments relating to healthcare, retail, and travel. The market is extremely competitive with ~1000 players but is dominated by country-niche players.Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and the report delivered within a maximum of 2 working weeks.
Key Topics Covered in the Report
- Snapshot of the Global Digital Signage Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Digital Signage Market
- Historic Growth of the Overall Global Digital Signage Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Digital Signage Industry
- Overview, Product Offerings, and Strength & Weakness of Key Competitors
- Covid-19 Impact on the Overall Global Digital Signage Market
- Future Market Forecast and Growth Rates of the Total Global Digital Signage Market and by Segments
- Market Size of Application/End User Segments with Historical CAGR and Future Forecasts
- Analysis of the Global Digital Signage Market
- Major Production/Supply and Consumption/Demand Hubs within Each Region
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Region
- Raydiant
- ScreenCloud
- Waev
- Comeen
- Sparsa Digital
- NoviSign Digital Signage
- Pickcel
- NEON
- Nanovo
- Intelisa
Key Target Audience - Organizations and Entities Who Can Benefit by Subscribing This Report
- Digital Signage Service Providers
- Digital Signage Hardware Manufacturers
- Audiovisual Production Software Companies
- Advertising and Brand Promotion Agencies
- City Municipal Authorities
- Shopping Mall Owners and Chain Retail Businesses
- Transport Companies/Public Transport Authorities
- Electronics/Semiconductor Manufacturing Companies
- Out of Home Advertising Companies
- Outdoor Advertising Infrastructure Companies
- Components and Material Suppliers for Digital Signage Equipment
Time Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022E-2028F
Frequently Asked Questions
What is the Study Period of this Market Report?
- The Global Digital Signage Market is covered from 2017 - 2028 in this report, which includes a forecast for the period 2022-2028
What is the Future Growth Rate of the Global Digital Signage Market?
- The Global Digital Signage Market is expected to witness a CAGR of about ~7% over the next 6 years
What are the Key Factors Driving the Global Digital Signage Market?
- Efficient and cost-effective targeting of the audience and high-quality display opportunities are among the key factors that drive growth in the Digital Signage market
Which is the Largest Application Segment within the Global Digital Signage Market?
- Application-wise, Entertainment is estimated to occupy the largest chunk of the market, followed by Education and Healthcare in 2022
Who are the Key Players in the Global Digital Signage Market?
- ADFLOW Networks, BrightSign LLC, Cisco Systems, Inc., Intel Corp., LG Electronics, NEC Display Solutions, Omnivex Corp., Panasonic Corp., SAMSUNG, Scala Digital Signage.
Additional benefits of purchasing an enterprise license:
- TAM/SAM/SOM Analysis
- Customer Cohort Analysis
- Marketing Initiatives
- White Space Opportunity Analysis
- Interactive Data Visualizations
- Customization: 20 Analyst Hours
- 3 Months Post Sales Analyst Support
- Complimentary Update Next Year
- Custom Webinars
Table of Contents
1. Executive Summary
2. Market Overview and Key Trends Impacting Growth
3. Global - Market Segmentation by Type, Historic Growth, Outlook & Forecasts
4. Global - Market Segmentation by Component, Historic Growth, Outlook & Forecasts
5. Global - Market Segmentation by Technology, Historic Growth, Outlook & Forecasts
6. Global - Market Segmentation by Location, Historic Growth, Outlook & Forecasts
7. Global - Market Segmentation by Content Category, Historic Growth, Outlook & Forecasts
8. Global - Market Segmentation by Screen Size, Historic Growth, Outlook & Forecasts
9. Global - Market Segmentation by Application, Historic Growth, Outlook & Forecasts
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- ADFLOW Networks
- BrightSign LLC
- Cisco Systems, Inc.
- Intel Corp
- LG Electronics
- NEC Display Solutions
- Omnivex Corp.
- Panasonic Corp.
- Samsung
- Scala Digital Signage
- Raydiant
- ScreenCloud
- Waev
- Comeen
- Sparsa Digital
- NoviSign Digital Signage
- Pickcel
- NEON
- Nanovo
- Intelisa
