NEWYORK, Oct. 18, 2023 (GLOBE NEWSWIRE) -- The Digital Signage Market is transforming the advertising landscape, providing dynamic and impactful promotional solutions.
What exactly is digital signage? Digital signage is the use of electronic displays in public locations to convey dynamic, multimedia material for purposes such as advertising, information dissemination, and interactive communication. The global market was valued at USD 25.2 Billion in 2022 and is projected to reach USD 57.8 Billion by 2032. The digital signage market revolves around the use of digital displays to display material such as advertisements, information, or photos. It's similar to the large TV screens you see in public settings, but smarter. These screens can be managed remotely and can adapt material in real time. Businesses utilize them to advertise, while schools, airports, and hospitals use them to communicate. It's similar to having an easy-to-manage digital bulletin board. This market is expanding because digital signs are more appealing and versatile than traditional ones. They are the future of communication, making information sharing more convenient and enjoyable.
Key Points and Statistics on the Digital Signage Market:
- The Global Digital Signage Market Size is estimated to grow to USD 57.8 Billion by 2032, expanding at 8.7% CAGR from 2023 to 2032
- North America dominated the market with over 36% share in 2022
- The hardware offering segment captured the largest market share of 57% in 2022
- By location, in-store held the highest market share of 71% in 2022
- The rise in demand for bright and power-efficient display panels drives the digital signage market value
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Digital Signage Market Coverage:
| Market | Digital Signage Market | |
| Digital Signage Market Size 2022 | USD 25.2 Billion | |
| Digital Signage Market Forecast 2032 | USD 57.8 Billion | |
| Digital Signage Market CAGR During 2023 - 2032 | 8.7% | |
| Analysis Period | 2020 - 2032 | |
| Base Year | 2022 | |
| Forecast Data | 2023 - 2032 | |
| Segments Covered | By Offering, By Type, By Location, By Content Category, By End-User, And By Geography | |
| Digital Signage Market Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa | |
| Key Companies Profiled | LG Electronics, Volanti Transparent LED Screens, Sony Corporation, Koninklijke Philips N.V., SAMSUNG ELECTRONICS CO. LTD., Panasonic Corporation, Planar Systems, NEC Corporation, iSEMC (HHSD Technology), ViewSonic Corporation. | |
| Report Coverage | Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis | |
Digital Signage Market Overview and Analysis:
The digital signage market focuses on the use of sophisticated digital screens to disseminate information, sell products, and engage people. Instead of static signage, these digital displays can offer dynamic material such as films, photos, and real-time updates. They can be found in shopping malls, airports, restaurants, and even doctors' offices.
The need for more engaging and eye-catching communication is propelling this industry. Businesses like digital signage because they can instantly change messaging and make them more appealing. These screens may be controlled remotely, which is really useful. Furthermore, there is an increasing demand for interactive and visually appealing ways to communicate information and marketing. As a result, the digital signage business is growing to satisfy these demands, making communication more interesting for everyone.
Latest Digital Signage Market Trends and Innovations:
Some cool trends are making waves in the digital signage market. The use of AI (Artificial Intelligence) to create personalized content that changes depending on who is looking at the screen is one example. Another trend is to use touchscreens and sensors to interact with signs, such as ordering meals or checking in for a flight. In order to save energy, more businesses are moving to eco-friendly digital displays. It's all about making digital signage smarter, more interactive, and more environmentally friendly.
Major Growth Drivers of the Digital Signage Market:
Key growth factors include rapid digitalization, reduced demand for traditional billboards, infrastructure growth in emerging markets, increased demand for custom digital signage solutions in sectors like healthcare and public transportation, and a rising need for 4K and ultra-HD devices
Key Challenges Facing the Digital Signage Industry:
Challenges encompass adopting widescreen alternatives like projectors, managing the costly maintenance and support of digital signage components, and contending with the proliferation of online retailers.
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Market Segmentation Insights:
Based on Offering:
- Software
- Hardware
- Service
Based on Service Type:
- Video Screen
- Digital Poster
- Kiosks
- Video wall
- Transparent LED Screen
- Others
Based on Location:
- Out-store
- In-store
Based on Content Category:
- Broadcast
- News
- Sports
- Weather
- Others
- Non-Broadcast
Based on End-User:
- Corporate
- Retail
- Education
- Stadiums
- Healthcare
- Government
- Others
Overview by Region of the Digital Signage Market:
The global digital signage market is expanding, with North America leading the way due to its tech-savvy users. Europe follows, emphasizing customer experiences. Because of its large population and growing industries, Asia-Pacific is quickly catching up. Digital signs are also being used for modernization throughout the Middle East and Africa.
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List of Key Players in the Global Market:
The notable companies in the market include iSEMC (HHSD Technology), Koninklijke Philips N.V., LG Electronics, NEC Corporation, Panasonic Corporation, Planar Systems, SAMSUNG ELECTRONICS CO. LTD., Sony Corporation, ViewSonic Corporation, and Volanti Transparent LED Screens.
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