Westford, USA,, April 06, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest reports, the digital signage market will achieve a value of USD 50.49 billion by 2030, with a CAGR of 7.75% over the forecast period (2022-2030). The market growth is fueled by the increasing demand for digital signage solutions, the rising adoption of digital out-of-home advertising, technological advancements, the growing need for personalized content, and the increasing use of digital signage in retail.
SkyQuest's research findings show that digital displays effectively enhance the customer experience and improve brand awareness. 90% of surveyed consumers expressed that digital displays captured their attention, and 70% agreed that digital signage influenced their decision-making. Additionally, 47% of customers who viewed a digital signage ad recalled it later, and 52% were more likely to engage with a store with digital displays. This indicates that digital signage solutions can improve brand awareness and customer engagement.
Infosys also found that 86% of consumers indicated that personalized messaging influenced their purchasing decisions. Digital signage solutions are well-suited to provide tailored messages to specific audiences, which can further enhance the customer experience and drive sales.
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Browse in-depth TOC on "Digital Signage Market"
- Pages - 242
- Tables - 181
- Figures - 82
In today's digital age, the significance of digital signage cannot be overstated. This technology enables businesses to engage with customers dynamically and interactively, enhancing their overall experience and promoting brand awareness. With the growing demand for personalized and real-time information, digital signage solutions provide an effective way for businesses to communicate with their audience and gain a competitive edge in the market.
Prominent Players in Digital Signage Market
- United Technologies Corporation
- Safran Landing Systems
- Honeywell Aerospace
- AAR Corporation
- Triumph Group Inc.
- GKN Aerospace Services Limited
- Eaton Corporation
- Circor Aerospace & Defense
- Heroux-Devtek Inc.
- Liebherr-International AG
- UTC Aerospace Systems
- Whippany Actuation Systems
- Héroux-Devtek Inc.
- Messier-Bugatti-Dowty
- CESA
- Collins Aerospace
- Magellan Aerospace Corporation
- SPP Canada Aircraft, Inc.
- Merrill Technologies Group
- GKN Aerospace Norway
Retail Segment to Drive Higher Sales as it provides Targeted and Relevant Content to Customers, Thus Improving Their Overall Shopping Experience
A recent analysis reveals that the Retail segment has played a significant role in driving the rapid growth of the Digital Signage market in 2021, and this trend is expected to continue from 2022 to 2030. Retailers are increasingly adopting digital signage solutions to provide targeted and relevant content to customers, thus improving their shopping experience. A report by SkyQuest states that more than 60% of retailers have implemented digital signage solutions and have witnessed an increase in sales, with some reporting sales growth of up to 30%. This highlights the effectiveness of digital signage solutions in driving sales and improving the overall business performance of retailers.
According to research analysis, North America is projected to emerge as a dominant player in the Digital Signage market from 2022 to 2030, with a forecasted CAGR of 6.82%. The expansion of the market in the region is driven by the increasing demand for digital signage solutions in various industries, as well as the presence of several key market players. Recently, LG Electronics USA Business Solutions announced the launch of its new OLED digital signage displays, designed to provide high-quality and eye-catching visuals for various commercial applications. These displays come in different sizes and feature LG's proprietary OLED technology, which offers unparalleled image quality, color accuracy, and contrast ratio. The displays are expected to be particularly popular in the retail and hospitality industries, where they can be used to create immersive and engaging customer experiences. This development is a testament to the growing demand for innovative digital signage solutions in North America, particularly in industries that rely on impactful visuals to attract and retain customers.
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Software Component Segment to Exhibit Strong Growth due to Demand for Lightweight and Advanced Wheels and Brakes Systems
The Software Component segment emerged as the dominant method in the Digital Signage market in 2021 and is expected to retain its lead from 2022 to 2030. The mounting demand for Cloud-based software is increasing due to its ease of deployment and lower cost of ownership, driving this trend. SkyQuest found that content management software is the most commonly used software in digital signage deployments, with 61% of respondents using it. 22% and 19% of respondents used edge servers and distribution software, respectively.
SkyQuest has projected significant growth for the Asia Pacific region in the Digital Signage market, with a forecasted CAGR of 8.97% during the forecast period, indicating the region's emergence as a significant market force. This expansion can be attributed to urbanization, economic growth, and the growing demand in emerging economies, including China, India, and Southeast Asian countries. The Asia Pacific region is poised to retain its leading position in the Digital Signage market by 2030, cementing its status as a dominant player in the industry.
A comprehensive analysis of the major players in the Digital Signage market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
Key Developments in the Digital Signage Market
- Spectrio, a prominent provider of comprehensive digital signage solutions in the US, recently acquired Ping HD, a Denver-based digital signage company. This acquisition adds over 35,000 screens to Spectrio's existing digital signage footprint. Ping HD, founded in 2007, is known for its innovative digital menu boards, creative content, video walls, interactive kiosks, and other digital signage solutions for sports and entertainment brands. Its work is highly visible in many major league baseball, football, and soccer stadiums and college and professional sports arenas.
- Ynvisible Interactive Inc, a leading manufacturer of printed e-paper displays, is set to launch its new Digital Signage Solution at Electronica. Ynvisible's technology is known for being the most energy-efficient printed e-paper display on the market. The company is positioning its new solution as an innovative, sustainable, and cost-effective way to enhance digital.
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Key Questions Answered in Digital Signage Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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