Farmington, Jan. 27, 2023 (GLOBE NEWSWIRE) -- The Global Digital Signage Market Size Was Valued at US$ 21.9 Billion in 2022 and Is Expected To Reach US$ 42.54 Billion by 2030, Poised To Grow at a CAGR of 7.7% From 2022 to 2030. This market is growing because more and more people want to advertise their products and services online to get the attention of their target audience. Also, the demand for 4K digital sign displays with software and a media player built in is growing because they offer customers an affordable Ultra HD digital signage solution. This is also likely to make people want to buy. Some of the things that are expected to drive product demand are the creation of new products like home monitoring systems, leak detector systems, and so on, and the creation of complicated financial products like forex cards that need short, informative ads.
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Recent Developments:
- In November 2020, Sharp launched the new massive 8K Ultra-HD professional LCD. The new display packs in 33 million pixels and employs a wide color gamut color filter and optimized LED backlight phosphors. This helps the display to deliver brilliant clarity and reproduce improved gradations of red, blue, and green in the pixels. These benefits make the LCD suitable for use in corporate lobbies, museums, showrooms, and video production.
- In November 2020, Panasonic commercially launched its new transparent OLED display module, which boasts of high image visibility. The 55-inch display module uses a self-illuminating transparent OLED display panel that does not require a backlight. The new product is suitable for use in commercial complexes, transit advertisements, retail stores, and public facilities such as lounge, museum, etc.
Segment Analysis:
Mode of Screen Type Insights
Based on the type of screen, the market is divided into Video Walls, Video Screens, Transparent LED Screens, Digital Posters, Kiosks, and Others. The market segment for video walls is expected to have over 27% of the market in 2021, and it will continue to lead the market during the forecast period. Video walls and kiosks had the largest share of the market, followed by video screens. In shopping malls and other public places, video walls are very popular. Kiosks are used in places like schools and stores to give out information and show ads.
Component Insights
Based on the type of part, the hardware component segment is expected to lead the market with 56.60% of the market's revenue in 2021 and keep that position in the years to come.
Technology Insights
Based on the technology, the market is divided into LCD, LED, and Projection. More than 47% of revenue came from the LED segment in 2021. Because LED displays are so good, this segment is expected to grow during the forecast period. It is also expected that the widespread use of LCD technology in the advertising and marketing industry will have a big effect on the growth of the market.
Location Insights
Based on location, it is expected that more than 73% of the total revenue will come from the in-store location segment in 2021. The high share is because more people are buying things in stores. This segment will continue to grow over the next few years because retail stores are opening all over the world at a fast rate. The growth of the transportation industry is likely to help the out-store location segment grow.
Regional Outlook:
In 2021, more than 35% of the market's income is expected to come from North America. Major market players and the high demand for digital signs in the retail industry are the main things that drive market growth in this area.
The Asia-Pacific region is expected to grow a lot over the next few years because more signs are being put up in corporate offices, hospitals, retail stores, and hotels. Also, because people in developing economies have more money to spend, more of them go to malls and multiplex theatres. It is thought that all of these things will help the digital signage market in this area grow.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 7.7% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 42.54 Billion |
| By Screen Type | Video Walls, Video Screens, Transparent LED Screens, Digital Posters, Kiosks, Others |
| By Component | Hardware, Software, Services, Others |
| By Technology | LCD, LED, Projection, Others |
| By Location | In-store, Out-store, Others |
| By Content Category | Broadcast, Non-Broadcast, Others |
| By Screen Size | Below 32 Inches, 32 to 52 Inches, More than 52 Inches, Others |
| By Content Category | Retail, Hospitality, Entertainment, Stadiums & Playgrounds, Corporate, Banking, Healthcare, Education, Transportation, Others |
| By Companies | Samsung Electronics (South Korea), LG Electronics (South Korea), Sharp Corporation (Japan), Leyard Optoelectronic (Planar) (US), Sony (Japan), AU Optronics (Taiwan), BARCO (Belgium), Panasonic (Japan), Goodview Electronics (China), Stratacache (US), BrightSign, LLC (US), E Ink Holdings (Taiwan), Omnivex Corporation (Canada), Delta Electronics (Taiwan), Exceptional 3D (US), Daktronics (US), Christie Digital Systems (US), Intuiface (France), and BenQ (Taiwan) |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Drivers:
With new display technologies like OLED displays, microLED displays, and electronic paper displays (EPD), the global display industry is expected to grow quickly across the world of digital signage market revenue impact report. Along with the increasing use of LED and LCD displays in digital signage, OLED, microLED, and electronic paper displays (EPD) are also expected to be in high demand in the coming years. This is because displays are getting better and can show more and more information. Samsung Electronics (South Korea), LG Electronics (South Korea), and Sharp are some companies that come up with and make advanced display technologies like OLED displays (Japan). In November 2020, 55-inch LG panels were used in Panasonic's first commercially available transparent OLED screens.
Market Opportunities:
The COVID-19 virus spread all over the world, which made it hard for companies and their workers to keep doing business as usual in digital signage market revenue impact report. Cloud computing has become a way for businesses to stay in touch during these hard times. Cloud-based digital signage platforms and solutions are offered by a number of companies that sell digital signage solutions. Digital signage software that runs on the web is used by these platforms and solutions to show messages and information on screens. You have a lot of freedom and trust with these cloud solutions.
Key Segments Covered:
Top Market Players:
Samsung Electronics (South Korea), LG Electronics (South Korea), Sharp Corporation (Japan), Leyard Optoelectronic (Planar) (US), Sony (Japan), AU Optronics (Taiwan), BARCO (Belgium), Panasonic (Japan), Goodview Electronics (China), Stratacache (US), BrightSign, LLC (US), E Ink Holdings (Taiwan), Omnivex Corporation (Canada), Delta Electronics (Taiwan), Exceptional 3D (US), Daktronics (US), Christie Digital Systems (US), Intuiface (France), and BenQ (Taiwan), and others.
By Screen Type
- Video Walls
- Video Screens
- Transparent LED Screens
- Digital Posters
- Kiosks
- Other
By Component
- Hardware
- Software
- Services
- Others
By Technology
- LCD
- LED
- Projection
- Others
By Location
- In-store
- Out-store
- Others
By Content Category
- Broadcast
- News
- Weather
- Sports
- Non-Broadcast
- Others
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
- Other
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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