Pune, India, Dec. 21, 2021 (GLOBE NEWSWIRE) -- The global digital signage market size is expected to reach USD 35.94 billion by 2026, exhibiting a CAGR of 7.8% during the forecast period. Rising efforts to make cities smarter through advanced technology will pave the way for the growth of this market in the given time period. Urbanization around the globe is speeding ahead at an exponential rate owing to the movement of people from rural to urban areas. According to UN estimates, by 2050, around 68% of the world’s population will be living in urban areas. This has prompted governments in many countries to transform cities into smart cities to make governance more efficient and effective. For instance, in March 2018, the Independent reported that police authorities in Shenzhen, China have deployed facial recognition technology, using AI-based CCTV cameras to catch jaywalkers and implement traffic rules stringently. As countries develop, the demand for digital signage solutions is likely to spike and this will be one of the leading digital signage market trends during the forecast period.
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Top Players Covered by Fortune Business Insights™:
• Omnivex Corporation
• E Ink Holdings Inc.
• Leyard Optoelectronic Co., Ltd.
• Panasonic Corporation
• Exceptional 3D
• Samsung Electronics
• Deepsky Corporation Ltd.
• Scala
• Sony Corporation
• LG Electronics
The digital signage market value was at USD 19.78 billion in 2018, according to the new Fortune Business Insights™ report, titled “Digital Signage Market Size, Share & Industry Analysis, By Component (Hardware, Software, Content, and Services), By Deployment (On-Premise, Cloud), By Location (Indoor, Outdoor), By Product Type (Video Walls, Digital Posters, Kiosks, Billboards, and Others), By Industry Vertical (Retail, Corporate, Hospitality, Transportation, Education, Healthcare, Sports and Entertainment, and Others) and Regional Forecast, 2019-2026”. Besides this, the report shares the following information:
- A meticulous segmentation of the market and a microscopic study of these segments;
- A broad overview of the industry outlook and its role in shaping the future of the market;
- A comprehensive evaluation of the market drivers, factors, and trends; and
- Exhaustive research into the recent and upcoming competitive and regional developments within the market.
Report Scope and Segmentation:
| Report Coverage | Details |
| Forecast Period | 2019 to 2026 |
| Forecast Period 2019 to 2026 CAGR | 7.8 % |
| 2026 Value Projection | USD 35.94 Billion |
| Base Year | 2018 |
| Market Size in 2018 | USD 19.78 Billion |
| Historical Data for | 2015 to 2017 |
| No. of Pages | 160 |
| Segments covered | By Component, By Deployment, By Location, By Product Type, By Industry Vertical, By Region |
| Growth Drivers | Increasing Demand for Enhanced Connectivity, Flexibility, and Affordability to Drive the Market |
| Growing Infrastructure Development across Industries to Expand the Market Size | |
| Key Industry Players to Focus on Advancements in Digital Signage Hardware |
To get to know more about the short-term and long-term impacts of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/digital-signage-market-101898
Increasing Popularity of Digital Signage among Retailers to Feed Market Growth
Retail giants are increasingly focusing on upgrading their infrastructure to integrate digital signage solutions to their existing structures. For example, Nordstrom is employing digital signage tools through 360-degree imagery and intelligent programing to make shopping easier and comfortable. Thus, digitization measures taken by retailers in significantly enhancing the digital signage market potential. Furthermore, digital displays have made accessing critical banking and financial information more convenient for customers and have also reduced waiting times. This technology has widened and deepened customer engagement, which has, in turn, aided the progress of the banking and finance sector.
Key Industry Developments:
- June 2019: Sony Electronics collaborated with Kramer Electronics to integrate its BZ35F series of BRAVIA™ 4K HDR professional displays with Kramer Control Brainware. Kramer’s software would enhance any Audio-Visual installation by adding advanced controls and analytics to Sony’s high-quality display.
- June 2019: LG Electronics unveiled its digital signage products at the InfoComm 2019 in Florida. The product line includes Open Frame OLED displays, Transparent OLED signage, and Micro LED signage. This diverse offering of commercial display products boasts of state-of-the-art technologies and would enable LG to augment its footprint in the digital signage market.
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North America to Lead the Pack; Asia-Pacific to Boast an Admirable CAGR
North America is poised to dictate the digital signage market share in the forecast period, as the region generated a revenue of USD 8.32 billion in 2018. The primary factor driving the market in this region is the rising demand for digital signage solutions for promotional activities, particularly in the US. Asia-Pacific will grow at an impressive CAGR on account of increasing uptake of digital signage technologies in the commercial, residential, and corporate sectors. The digital signage market research also finds that low cost in deploying electronic signage systems will fuel the market in Asia-Pacific. In Europe, growing investments in digitization will propel the market, while increasing digitization efforts will spur the market in the Middle East, Africa, and Latin America.
Intense Efforts to Develop Novel Digital Signage Hardware Solutions to Stimulate Competition
The digital signage market report predicts a period of cutthroat competition as companies strategize to solidify their position in the market. Majority of the digital signage market leaders, such as Samsung, are focusing on developing innovative hardware solutions so as to diversify their product portfolio.
COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Table of Content:
- Introduction
- Definition, By Segment
- Research Approach
- Sources
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends
- Key Insights
- Macro and Micro Economic Indicators
- Consolidated SWOT Analysis of Key Players
- Global Digital Signage Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Size Estimates and Forecasts
- By Component (Value)
- Hardware
- Content
- Software
- Services
- By Deployment (Value)
- Cloud
- On-Premise
- By Location (Value)
- Indoor
- Outdoor
- By Product Type (Value)
- Video Walls
- Digital Posters
- Kiosks
- Billboards
- Others
- By Industry Vertical (Value)
- Retail
- Corporate
- Hospitality
- Transportation
- Education
- Healthcare
- Sports and Entertainment
- Others
- By Geography (Value)
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
- By Component (Value)
- North America Digital Signage Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Size Estimates and Forecasts
- By Component (Value)
- Hardware
- Content
- Software
- Services
- By Deployment (Value)
- Cloud
- On-Premise
- By Location (Value)
- Indoor
- Outdoor
- By Product Type (Value)
- Video Walls
- Digital Posters
- Kiosks
- Billboards
- Others
- By Industry Vertical (Value)
- Retail
- Corporate
- Hospitality
- Transportation
- Education
- Healthcare
- Sports and Entertainment
- Others
- By Country (Value)
- United States
- Canada
- By Component (Value)
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