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Digital Signage Market Size to Touch US$ 42.54 Billion By 2030

Precedence Research

The digital signage market garnered US$ 21.9 billion in 2021 and is expected to generate US$ 42.54 billion by 2030, manifesting a CAGR of 7.7% from 2021 to 2030.

Digital Signage Market Size 2020 to 2030

Digital signage is an electronic display that is used for advertising contents, broadcasting data, television programs, and others. It makes use of various technologies such as LED and LCD. Digital signage’s are found in both private and public places such as restaurants, corporate environment and retail outlets. During the forecast period the Digital Signage market is anticipated to grow with a CAGR of 7.7%.

In order to ensure the display of high-quality content, the Digital signage depends primarily on hardware components. The hardware component segment dominates the market with a market share of 56.60% in 2020 and will grow significantly during the forecast period. Digital signages have disrupted the market of small and micro-display screens with large wall-sized LED and LCD displays. It is designed for applications that require the vendors to engage their customers with its wider viewing angle and to extract maximum effectiveness from the marketing campaigns.

Crucial factors accountable for market growth are:

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Digital Signage Market Scope
Report Highlights Details
Market Size in 2021 US$ 21.9 Billion
Growth Rate CAGR of 7.7% from 2021 to 2030
Market Size US$ 42.54 Billion by 2030
Largest Market North America
Fastest Growing Market Asia Pacific
Base Year 2021
Forecast Period 2021 to 2030
Digital Signage Market Report Highlights
Digital Signage Market Regional Snapshots

Asia Pacific is anticipated to grow significantly during the forecast period and is expected to contribute more than 20% of the market share due to the presence of developing economies such as India, China, Taiwan, South Korea in this region. Also, the rapid innovation of the major market players in this region will boost the market growth. For instance, in 22nd April 2021, Samsung Electronics Spotlights the Digital Signage Innovations that is built for Control Room at 2021 Virtual Experience Showcase.

Digital Signage Market Dynamics

Driver

The digital signage are deployed in diverse sectors such as retail stores, hospitality centers, and other public spaces for advertising, as well as displaying instructions, directions, entertaining content, product information and others are the major factors driving the growth of the digital signage market. For instance, on 17th August 2021 Kollins Communications announced their partnership with BrightSign and Visual Communications to create a best-in-class, in-store digital customer experience at Sam’s Club stores throughout the United States. It will provide the customers with creating a compelling kiosk display to give customers a fresh point of sale experience in this high-traffic, big box retail setting.

Restraint

The major restraining factor that will negatively impact the growth of the Digital Signage Market includes the surge in expenditure by retailers and products suppliers in the broadcast pf advertisements, the increase in penetration of internet that disrupts the advertising companies that targets the audience through online promotions and many others.

Opportunity

The COVID-19 pandemic has created huge business opportunities for the digital signages to make use of voice-based interfaces that use audio-video (AV) interactions in physical places such as retail stores, restaurants, airports, and museums to understand the requirements of consumers. For instance, On 6th April 2021 c3ms Media in collaboration with BrightSign LLC announced to roll out digital menu boards at Bonchon Chicken restaurants throughout the United States.

Challenges

The outdoor application of the digital signages is adversely affected by the Harsh weather conditions, such as rain, snow, dirt, and extreme temperatures. This is a major challenge encountered by the digital signage market.

Also Read: Hydrogen Generation Market Value to Touch US$ 219.2 Billion By 2030

Recent Developments

Digital Signage Market Key Players

The global digital signage market is characterized by the presence of various small and big players. The major market players are ADFLOW Networks, BrightSign LLC, Cisco Systems Inc., Intel Corp., KeyWest Technology Inc., LG Electronics, Microsoft Corp., NEC Display Solutions, Omnivex Corp., Panasonic Corp., SAMSUNG, and Winmate Inc. As the market is competitive in nature, the players are indulged in the rapid adoption of advanced technologies to improve the viewing experience of the customers and in raising their competitive share by means of strategic initiatives like mergers, new product, and acquisitions.

Digital Signage Market Segments

By Screen Type

By Component

By Technology

By Location

By Content Category

By Screen Size

By Application

By Geography

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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