Global $29.6Bn Digital Signage Market by Offering, Product, Application, Vertical and Geography – Forecast to 2024

Press Releases

Mar 15, 2019

DUBLIN, March 15, 2019 /PRNewswire/ — The “Digital Signage Market by Offering (Hardware (Displays, Media Players, Projectors), Software, Services), Product, Application, Vertical (Retail, Transportation, Public Places, Sports, Entertainment, Education), & Geography – Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.

The digital signage market is expected to grow from USD 20.8 billion in 2019 to USD 29.6 billion by 2024, at a CAGR of 7.3%.

Increasing adoption of digital signage products in commercial vertical, growing technological advancements in display products, rising demand for 4K & 8K displays, and increasing infrastructural developments in emerging countries are the major driving factors for the market’s growth during the forecast period. However, increasing trends of online/broadcast advertisement would hinder the growth of the digital signage market in the future.

The use of digital signage in commercial applications allows businesses to efficiently and effectively reach and interact with customers. Attracting new business opportunities, increasing brand awareness, improving operating efficiency, catching the attention of passersby, promoting new products, and enhancing customer experience are the factors that propel the growth of the digital signage market.

Software offering to grow at highest CAGR during forecast period

There is an increasing adoption of software in digital signage used in indoor and outdoor applications; it makes the system interactive and easy to use. This leads to improved customer retention by providing an enhanced experience for customers through interactive screens.

Content management software is widely used in the market for the effective management of content to be displayed through a digital signage solution. The estimated growth rate of the digital signage market for software is higher than hardware; hardware devices are not frequently purchased because they have a long operational life. The market for software is growing at a higher pace as software licenses need to be purchased and upgraded at regular intervals.

Retail vertical to hold largest market share during forecast period

Retail vertical currently accounts for the largest share of the digital signage market, and this trend is expected to continue during the forecast period. Digital signage has a high demand in retail as it helps in engaging customers with menu boards, billboards, and kiosks to increase impulsive shopping, and display information regarding the usage and benefits of products or services. Retail companies are adopting display devices to enrich customers’ shopping experience and simplify display management.

Digital signage displays utilized in retail for display information such as information about store’s opening hours and corporate identity, way-finding guidance, in-store advertising, screens near point-of-sale and creating a better atmosphere and enhancing customer experience. Also, growing retail space and the increasing number of retail stores across the world are propelling the growth of the market.

APAC to record highest growth rate during forecast period

The market in APAC is expected to exhibit the highest growth rate in the digital signage market. The growth is mainly attributed to increasing developments in the field of retail, transportation, public infrastructure, and corporate. The retail vertical is thriving because of strong economic growth, rising consumerism, rising standards of living, increasing disposable incomes, and changing lifestyles; this is expected to increase the demand for digital signage in this region.

Countries such as India, Australia, Singapore, Thailand, and Malaysia are expected to witness the highest growth in the digital signage market.

Topics Covered

1 Introduction
1.1 Study Objectives
1.2 Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Geographic Segmentation
1.3.3 Years Considered
1.4 Currency
1.5 Package Size
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in Overall Digital Signage Market
4.2 Digital Signage Market, By Vertical
4.3 Digital Signage Market in APAC, By Vertical and Country
4.4 Digital Signage Market, By Country

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Adoption of Digital Signage Products in Commercial Vertical
5.2.1.2 Growing Technological Advancements in Display Products
5.2.1.3 Rising Demand for 4K & 8K Displays
5.2.1.4 Increasing Infrastructural Developments in Emerging Countries
5.2.2 Restraints
5.2.2.1 Increasing Trends of Online/Broadcast Advertisement
5.2.3 Opportunities
5.2.3.1 Growing Smart Signage Applications
5.2.3.2 Increasing Retail Space Worldwide
5.2.3.3 Rising Demand for Context-Aware Signage
5.2.3.4 Increasing Transition of Traditional Stores to Smart Stores in Retail
5.2.4 Challenges
5.2.4.1 Developing Robust Equipment Suitable for Harsh Environmental Conditions

6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.2.1 Research & Development
6.2.2 Product Development & Integration
6.3 Key Trends
6.3.1 Increasing Deployment of Digital Menu Boards in Restaurants
6.3.2 Rising Popularity of Wireless Signage Solutions
6.3.3 Growing Technological Trends in Digital Signage Market
6.3.3.1 Internet of Things (IoT)
6.3.3.2 Artificial Intelligence (AI)

7 Digital Signage Market, By Offering
7.1 Introduction
7.2 Hardware
7.2.1 Displays
7.2.1.1 Displays, By Technology
7.2.1.1.1 LCD Display
7.2.1.1.1.1 LCD Display to Dominate the Display Technology Market With Highest Share During Forecast Period
7.2.1.1.2 OLED Display
7.2.1.1.2.1 OLED Display to Emerge as the Leading Technology Owing to Various Advantages Such as Better Contrast, Clarity, and Low Power Consumption in the Market During Forecast Period
7.2.1.1.3 Direct-View Fine-Pixel Led
7.2.1.1.3.1 Direct-View Fine-Pixel Led Display to Witness Highest CAGR During Forecast Period
7.2.1.1.4 Direct-View Large-Pixel Led
7.2.1.1.4.1 Direct-View Large-Pixel Led Display Expected to Find Major Application in Outdoor Environment
7.2.1.1.5 Others
7.2.1.2 Displays, By Resolution
7.2.1.2.1 8K
7.2.1.2.2 4K
7.2.1.2.3 FHD
7.2.1.2.4 HD
7.2.1.2.5 Lower Than HD
7.2.1.3 Display, By Brightness
7.2.1.3.1 0-500 Nits
7.2.1.3.2 501-1,000 Nits
7.2.1.3.3 1,001-2,000 Nits
7.2.1.3.4 2,001-3,000 Nits
7.2.1.3.5 More Than 3,000 Nits
7.2.2 Media Players
7.2.2.1 Increasing Consumer Engagement With Digital Media is the Major Growth Driver During Forecast Period
7.2.3 Projectors
7.2.3.1 Projectors to Witness High Growth in Retail, Transportation and Public Places and Education Vertical During Forecast Period
7.2.4 Other Hardware Products
7.3 Software
7.3.1 Edge Server Software
7.3.1.1 Edge Server Software to Witness the Significant Growth During Forecast Period
7.3.2 Content Management System
7.3.2.1 Content Management System Software to Witness Highest CAGR in the Market During Forecast Period
7.3.3 Others
7.4 Services
7.4.1 Installation Services
7.4.1.1 Installation Services to Dominate the Services Market With Highest Share During Forecast Period
7.4.2 Maintenance & Support Services
7.4.2.1 Maintenance and Support Services to Witness Highest Growth of Digital Signage Market for Services During Forecast Period
7.4.3 Consulting & Other Services

8 Digital Signage Market, By Product
8.1 Introduction
8.2 Video Wall
8.2.1 Video Wall to Witness Highest Growth for Digital Signage Market During Forecast Period
8.3 Standalone Display
8.3.1 Kiosks
8.3.1.1 Interactive Kiosks
8.3.1.1.1 Major Adoption of Interactive Kiosks is Expected in Retail Vertical During Forecast Period
8.3.1.2 Automated Teller Machine (ATM)
8.3.1.2.1 Banking, Financial Services, and Insurance Vertical to Dominate the Market for Automated Teller Machine During Forecast Period
8.3.1.3 Self-Service Kiosks
8.3.1.3.1 Technological Advancement Propelling the Growth of Self-Service Kiosks During Forecast Period
8.3.1.4 Vending Kiosks
8.3.1.4.1 Retail Vertical to Dominate the Market for Vending Kiosks During Forecast Period
8.3.2 Menu Boards
8.3.2.1 Interactive
8.3.2.1.1 Interactive Menu Board to Witness High Growth in Hospitality Vertical During Forecast Period
8.3.2.2 Non-Interactive
8.3.2.2.1 Rapid Penetration of Non-Interactive Menu Boards in Retail, Transportation, Hospitality, and Sports and Entertainment Vertical Would Be Major Growth Driver During Forecast Period
8.3.3 Billboards
8.3.3.1 Billboards to Witness High Growth in Outdoor Application During Forecast Period
8.3.4 Other Standalone Display

9 Digital Signage Market, By Application
9.1 Introduction
9.2 Indoor
9.2.1 Retail Vertical to Occupy Major Share of Digital Signage Market for Indoor Application During Forecast Period
9.3 Outdoor
9.3.1 Transportation and Public Places to Dominate Digital Signage Market for Outdoor Application During Forecast Period

10 Digital Signage Market, By Vertical
10.1 Introduction
10.2 Commercial
10.2.1 Retail
10.2.1.1 APAC to Witness Highest Growth Rate for Digital Signage Market in Retail During Forecast Period
10.2.2 Corporate and Broadcast
10.2.2.1 North America to Hold Major Share of Digital Signage Market for Corporate and Broadcast Vertical During Forecast Period
10.2.3 Healthcare
10.2.3.1 APAC to Witness Highest Growth Rate for Digital Signage Market in Healthcare Vertical During Forecast Period
10.2.4 Hospitality
10.2.4.1 APAC to Dominate Digital Signage Market, in Terms of Share and CAGR, for Hospitality Vertical During Forecast Period
10.2.5 Government, Command and Control Centers
10.2.5.1 North America to Hold Major Share of Digital Signage Market for Government, Command and Control Centers During Forecast Period
10.3 Infrastructural
10.3.1 Transportation and Public Places
10.3.1.1 APAC to Witness Highest Growth Rate for Digital Signage Market for Transportation and Public Places During Forecast Period
10.3.2 Sports and Entertainment
10.3.2.1 APAC to Dominate Digital Signage Market for Sports and Entertainment Vertical, in Terms of Size and CAGR, During Forecast Period
10.4 Institutional
10.4.1 Banking, Financial Services, and Insurance
10.4.1.1 APAC to Witness Highest Growth Rate for Digital Signage Market in Banking, Financial Services, and Insurance Vertical During Forecast Period
10.4.2 Education
10.4.2.1 North America to Hold Major Share of Digital Signage Market for Education Vertical During Forecast Period
10.5 Industrial
10.5.1 APAC to Dominate Digital Signage Market for Industrial Vertical During Forecast Period

11 Geographic Analysis
11.1 Introduction
11.2 North America
11.2.1 US
11.2.1.1 US to Hold Major Share of Digital Signage Market in North America During Forecast Period
11.2.2 Canada
11.2.2.1 Canada to Witness Highest Growth Rate for Digital Signage Market in North America During Forecast Period
11.2.3 Mexico
11.2.3.1 Mexico to Witness Growth in Digital Signage Market Especially in Retail, Education, Banking, Financial, and Insurance Vertical
11.3 Europe
11.3.1 UK
11.3.1.1 UK to Hold Major Share of Digital Signage Market in Europe During Forecast Period
11.3.2 Germany
11.3.2.1 Germany to Witness Highest Growth Rate for Digital Signage Market in Europe During Forecast Period
11.3.3 France
11.3.3.1 France to Witness Growth in Digital Signage Market Especially in Retail, Hospitality, Transportation and Public Places Vertical During Forecast Period
11.3.4 Spain
11.3.4.1 Sports and Entertainment and Retail Verticals to Be Major Users of Digital Signage in Spain During Forecast Period
11.3.5 Italy
11.3.5.1 Growing Retail Space and Sports and Entertainment Events to Propel the Digital Signage Market Growth in Italy
11.3.6 Rest of Europe
11.3.6.1 Retail, Sports and Entertainment, Transportation and Public Places to Be Major Users of Digital Signage in Rest of Europe During Forecast Period
11.4 APAC
11.4.1 China
11.4.1.1 China to Hold Major Share of Digital Signage Market in APAC During Forecast Period
11.4.2 Japan
11.4.2.1 High Demand for Digital Signage Market in Retail, Healthcare, Hospitality, Sports and Entertainment Vertical is Expected During Forecast Period
11.4.3 South Korea
11.4.3.1 South Korea is A Major Contributor to Digital Signage Market Due to Presence of Major Players
11.4.4 India
11.4.4.1 India to Witness Highest CAGR for Digital Signage Market in APAC During Forecast Period
11.4.5 Australia
11.4.5.1 Digital Signage Market for Retail, Transportation, and Sports and Entertainment Verticals to Witness High Demand During Forecast Period
11.4.6 Rest of APAC
11.4.6.1 Retail, Transportation and Public Places, and Sports and Entertainment to Be Major Users of Digital Signage During Forecast Period
11.5 RoW
11.5.1 Middle East
11.5.1.1 Middle East to Witness Highest CAGR of Digital Signage Market in RoW During Forecast Period
11.5.2 Africa
11.5.2.1 Africa to Witness Significant Demand for Digital Signage Market in Retail and Healthcare During Forecast Period
11.5.3 South America
11.5.3.1 South America to Hold Major Share of Digital Signage Market in RoW During Forecast Period

12 Competitive Landscape
12.1 Overview
12.2 Ranking Analysis of Key Players in Digital Signage Market
12.3 Competitive Leadership Mapping
12.3.1 Visionary Leaders
12.3.2 Dynamic Differentiators
12.3.3 Innovators
12.3.4 Emerging Companies
12.4 Strength of Product Portfolio (25 Companies)
12.5 Business Strategy Excellence (25 Companies)
12.6 Competitive Situations and Trends
12.6.1 Product Launches and Developments
12.6.2 Agreements, Partnerships, Collaborations & Joint Developments
12.6.3 Mergers & Acquisitions
12.6.4 Expansions

13 Company Profiles
13.1 Introduction
13.2 Key Players
13.2.1 Samsung Electronics
13.2.2 LG Electronics
13.2.3 Sharp (Foxconn)
13.2.4 Leyard Optoelectronic (Planar)
13.2.5 NEC Corp.
13.2.6 Sony
13.2.7 Barco
13.2.8 Panasonic
13.2.9 Shanghai Goodview Electronics
13.2.10 AU Optronics
13.3 Other Players
13.3.1 Scala
13.3.2 E Ink Holdings
13.3.3 Benq Group
13.3.4 Intuiface
13.3.5 Daktronics (Adflow Networks)
13.3.6 Christie Digital Systems
13.3.7 Omnivex Corporation
13.3.8 Deepsky Corporation
13.3.9 Delta Electronics
13.3.10 Exceptional 3D