Pune, India, Oct. 10, 2022 (GLOBE NEWSWIRE) -- The global digital signage market size is anticipated to reach USD 35.94 billion by 2026, exhibiting a CAGR of 7.8% during the forecast period 2019 to 2026. Rising efforts to make cities smarter through advanced technology will pave the way for the growth of this market in the given time period. Fortune Business Insights™ presents this information in their report titled, “Digital Signage Market Forecast, 2019-2026.”
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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.
Key Industry Developments:
May 2021: LG Electronics partnered with VITEC, a video encoding and streaming solutions supplier. The collaboration focuses to permit enterprise IPTV consumers to safely supply, view multicast MPEG video on LG webOS-based smart signage displays.
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.
Report Scope & 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 |
| Digital Signage Market Size in 2018 | USD 19.78 Billion |
| Historical Data for | 2015 to 2017 |
| No. of Pages | 160 |
| Segments covered | Component, Deployment, Location, Product Type, Industry Vertical and Geography |
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
- An exhaustive research into the recent and upcoming competitive and regional developments within the market.
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Drivers and Restraints:
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.
Segmentation:
Digital Signage Hardware to Attain Surplus Demand Across Organizations
Based on component, the market is classified into hardware, content, software, and services. Increasing demand for digital signage hardware is anticipated to create largest revenue until 2026. The hardware segment encompasses of LCD/LED display, media players, projector/projection screens, and other hardware.
Surging Demand to Streamline Content to Increase Demand for Cloud-Based Digital Signage Software
Based on deployment type, the market has been classified as cloud and on-premise. The advanced digital signage solution involves cloud-based digital signage software for content management.
Increasing Digital Advertising to Thrive Demand for Outdoor Signage Solutions
There are numerous kinds of digital signage solutions utilized in the market. Based on the location of deployment, the market has been segmented into indoor and outdoor digital signage solutions.
Large Scale Deployment of Video Walls to Extend Market Size
Based on product type, the global is segmented into video walls, kiosks, billboards, digital posters and others. The video walls segment is anticipated to create major revenue during the forecast period.
The market is bifurcated into retail, hospitality, corporate, transportation, education, healthcare, sports and entertainment, and others based on industry vertical.
Geographically, the market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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Regional Insights:
North America to Lead Backed by Reduction in Mass and Print Media
North America is predicted to observe notable growth and hold the largest digital signage market share during the forecast period. The deteriorations of mass media such as broadcast and print has generated a demand for technology solutions across the region.
Asia Pacific is estimated to display an exponential CAGR owing to the implementation of these technology solutions in India, China, and other emerging nations.
Europe is projected to hold a considerable position in the global market. Constant progressions in the production industry and elevated investments in digitization by business pioneers such as Samsung Electronics, LG, and others is estimated to extend the market size in the region.
Competitive Landscape:
Collaborations among Corporations to Safeguard Their Brand Values in Global Market
Fundamental players in the market are incessantly rooting for efficient strategies to endorse their products and establish their positions in the market. One such tactic is to launch new products by teaming up with other companies to extend their reach to end-users.
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. The majority of the digital signage market leaders, such as Samsung, are focusing on developing innovative hardware solutions so as to diversify their product portfolio.
List of Key Players Mentioned in the Report:
- Omnivex Corporation
- E Ink Holdings Inc.
- Leyard Optoelectronic Co., Ltd.
- Panasonic Corporation
- Exceptional 3D
- Samsung Electronics
- Deepsky Corporation Ltd.
- Scala
- Sony Corporation
- LG Electronics
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Major Table of Contents:
- 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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