Fort Collins, Colorado, Sept. 27, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "Digital Signage Market Size, Growth, Share, Statistics Report, By Deployment (Indoor, Outdoor), By Product Type (LCD & LED Video Walls), By Application (Commercial Advertising, Healthcare, Transportation, Sports, Entertainment), By Region, and Segment Forecasts, 2023-2032."
According to DataHorizzon Research, The digital signage market size was valued at USD 27.3 Billion in 2022 and is expected to reach USD 61.5 Billion by 2032 and is expected to have a CAGR of 8.5%. The report comprehensively analyzes the market conditions at global and regional levels in the information and communications sector. It also highlights the collaborative strategies between key players and their overall impact on the global market.
Digital signage is a device that displays video or multimedia content for informational, advertising, and business purposes. The signage is visible everywhere, from bus stations, food joints, airports, railway stations, theatres, and many other places. It displays multimedia content using technologies like LCD, LED, OLED, or projected images. Digital signage helps reduce the company’s long-term operational costs, such as papers or sheets for physical advertisement. In post-pandemic times, digital signage is more effective than physical ads and pamphlets.
The increase in demand for digitized promotion of various products and services is expanding the market positively. Digital banners and posters are used across shopping malls to promote brands. The trend of personalized ads has enabled a positive experience for users. For instance, interactive billboards and touchscreen panels are some of the creative aspects of using digital signage. There is a growing demand for bright and energy-efficient displays, unlike traditional billboards that consume more electricity. Technological advancements like near-field communication are integrated into displays to enhance them with more advanced features.
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Report Snapshot:
| Report Title | Digital Signage Market |
| Market Size in 2022 | USD 27.3 Billion |
| Market Size by 2032 | USD 61.5 Billion |
| CAGR from 2023 to 2032 | 8.5% |
| Largest Market | North America |
| Forecast Period | 2023 to 2032 |
| Historic Period | 2021 |
| Base Year | 2022 |
| Report Scope & Coverage | Market Size, Market Estimations, Competitor Analysis, Trends, and Growth Factors |
| By Deployment | Indoor, Outdoor |
| By Product Type | LCD & LED Video Walls |
| By Application | Commercial Advertising, Healthcare, Transportation, Sports, Entertainment |
| Region | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. |
| Countries Covered | U.S., Canada, U.K., Germany, France, China, Japan, India, Brazil, Mexico, UAE, Saudi Arabia, and South Africa, among others |
| Major Market Players | LG Electronics, Samsung, Sharp, Sony, Panasonic, Strata Cache, Delta Electronics, Christie Digital Systems, Daktronics, Omnivex, Philips etc. |
Segmentation Overview:
The global digital signage market has been segmented based on deployment, product, application, and region. Based on deployment, outdoor digital signage accounted for a significant market share in 2022. The segment growth mainly depends on the widespread applications to create awareness in the education sector.
North America's digital signage market accounted for the largest revenue share for 2022. The market projections till 2032 for the North America market include the high adoption of digital services and the trend of going paperless documentation. Also, the emergence of several startups with digital signage services is expected to catalyze market developments. Asia Pacific is a fast-growing market attributed to the growing demand for digital advertising and the use of digital mediums to create awareness in the online marketplace.
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Digital Signage Market Report Highlights:
- The global digital signage market growth is anticipated to reach USD 61.5 Billion at a CAGR of 8.5% by 2032.
- The digital signage market growth drivers include the shift in traditional advertising methods to digital mediums. Also, the growing use of predictive analytics in retail, and healthcare is driving the digital signage industry.
- Based on deployment, the outdoor segment dominated the global industry and is projected to dominate in the forthcoming years.
- LED video walls accounted for a significant market share in 2022 and are projected to remain dominant in the forthcoming years.
- The North America registered significant growth in 2022. Throughout the forecast period, the U.S. market growth is anticipated to remain high owing to the popularity of digital facilities. Asia Pacific is a fast-growing market attributed to the widespread use of technology to encourage the use of tablets in the retail and healthcare industry.
- Some prominent players in the digital signage market report include LG Electronics, Samsung, Sharp, Sony, Panasonic, Strata Cache, Delta Electronics, Christie Digital Systems, Daktronics, Omnivex, and Philips.
Key Developments in the Industry:
- In 2023, AVI-SPL collaborated to offer signage OS’s digital monitoring facility to support and manage display networks for its global clientele.
- In 2023, LG released LG ClOi, which blends robotics and digital signage. It was demonstrated at the Interactive Customer Experience Summit in Charlotte, New Caroline. ClOi was designed by LG in partnership with RobotLAB, which syndicates touchscreen, digital signage, and AI.
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Digital Signage Market Report Segmentation:
Digital Signage Market, By Deployment (2023-2032)
- Indoor
- Outdoor
Digital Signage Market, By Product Type (2023-2032)
- LCD Video Walls
- LED Video Walls
Digital Signage Market, By Application (2023-2032)
- Commercial Advertising
- Healthcare
- Corporate
- Transportation
- Sports
- Entertainment
Digital Signage Market, By Region (2023-2032)
- North America
-
- U.S.
- Canada
- Europe
-
- U.K.
- Germany
- France
- Rest of Europe
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
-
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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