Digital Signage Market Size To Reach 45.94 Billion By 2030 | CAGR: 8.0%

Posted by tushar on February 6th, 2024

The global digital signage market size is predicted to attain USD 45.94 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 8.0% from 2023 to 2030. The market is expected to witness a CAGR of 8.0% over the forecast period owing to increasing demand from end-use industries, which prominently include retail and healthcare. The creation and distribution of content with digital signage are effective promotional strategies for enterprises, as they can reach out to a larger audience base. This is anticipated to spur the adoption of digitized marketing via signage across the corporate and hospitality sectors. Digital displays equipped with 4K technology have high demand as they offer enhanced, sharp images for displays.

Thus, the demand for advertising content with better sharpness and enhanced quality is fueling the adoption of digital signage. Moreover, the incorporation of LED-backlit panels has led to additional energy savings at a considerable level. Thus, the reduction in energy consumption due to the adoption of advanced technologies, such as LED, is luring enterprises to opt for digital signage. The software providers are focusing on new entrants to the industry by providing design solutions that are compatible with the Android operating systems. The emergence of IoT, coupled with the increasing adoption of cloud computing, is expected to enable the collection of vital operational and marketing data.

Digital signage helps companies decrease their long-term operational costs by reducing the use of paper for advertising and frequent damages and changes that are associated with traditional marketing activities. Asia Pacific is estimated to be the fastest-growing regional market over the forecast period owing to factors, such as demand for a better viewing experience, the growing transportation sector, and decreasing prices of display panels. The North American region accounted for the largest revenue share in 2021 owing to the high demand for digital signage across various application sectors on account of technological advancements and the modern customer base.

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• The video walls segment accounted for the largest market share of more than 26% in 2022 and this trend is expected to continue during the forecast period. The video screens and kiosks segments gained a high share in 2022 followed by the video screens segment.
• The hardware components segment accounted for the largest market share of more than 57% in 2022 and is anticipated to maintain its position during the forecast period. 
• The retail sector accounted for the largest market share of more than 19% in 2022. The retail sector is the most prominent sector demanding digitized advertisements for marketing and promoting products and services.
• The in-store location segment accounted for the largest market share of over 71% in 2022. The in-store locations include the deployment of digital posters within closed premises, such as malls, corporate offices, retail shops, banks, and healthcare centers.
• Broadcast content category is expected to emerge as the fastest-growing segment expanding at a CAGR of over 8.8% over the forecast period. The broadcast content category is further segregated into the news, weather, sports, and others.
• LED segment accounted for the largest market share of over 47% in 2022. LCD technology is one of the most extensively adopted technologies in the advertisement & marketing industry.
• North America emerged as the dominant segment in 2022 with a revenue share exceeding 34%, followed by Europe. The high share is attributed to the growing presence of dedicated suppliers of the product along with rising demand for signage in the retail industry.
• Asia Pacific is expected to emerge as the fastest-growing segment growing at a CAGR of over 9.5% over the forecast period. The growth can be attributed to the growing awareness regarding the benefits of digital signage.

Digital Signage Market Segmentation

Grand View Research has segmented the global digital signage market report based on type, component, technology, resolution, application, location, content category, size, and region:

Digital Signage Type Outlook (Revenue, USD Million, 2017 - 2030)

• Video Walls
• Video Screen
• Transparent LED Screen
• Digital Poster
• Billboards
• Kiosks
  • Interactive Kiosks
  • Self-service Kiosks
  • Others

Digital Signage Component Outlook (Revenue, USD Million, 2017 - 2030)

• Hardware
  • Displays
  • Media Players
  • Projectors
  • Others
  • Software
• Service
  • Installation Services
  • Maintenance & Support Services
  • Consulting Services
  • Others

Digital Signage Technology Outlook (Revenue, USD Million, 2017 - 2030)

• LCD
• LED
• OLED
• Projection

Digital Signage Resolution Outlook (Revenue, USD Million, 2017 - 2030)

• 8K
• 4K
• Full High Definition (FHD)
• High Definition (HD)
• Lower than HD

Digital Signage Application Outlook (Revenue, USD Million, 2017 - 2030)

• Retail
• Hospitality
• Entertainment
• Stadiums & Playgrounds
• Corporate
• Banking
• Healthcare
• Education
• Transport

Digital Signage Location Outlook (Revenue, USD Million, 2017 - 2030)

• In-store
• Out-store

Digital Signage Content Category Outlook (Revenue, USD Million, 2017 - 2030)

• Broadcast
• News
• Weather
• Sports
• Others
• Non-Broadcast

Digital Signage Signage Size Outlook (Revenue, USD Million, 2017 - 2030)

• Below 32 Inches
• 32 to 52 Inches
• More than 52 Inches

Digital Signage Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
• South America
  • Brazil
• Middle East & Africa
  • Kingdom of Saudi Arabia (KSA)
  • UAE
  • South Africa

List of Key Players in the Digital Signage Market

• ADFLOW Networks
• BrightSign, LLC
• Cisco Systems, Inc.
• Intel Corporation
• KeyWest Technology, Inc.
• LG Electronics
• Microsoft Corporation
• NEC Display Solutions
• Omnivex Corporation
• Panasonic Corporation
• SAMSUNG
• Scala
• Winmate Inc.

Browse Full Report: https://www.grandviewresearch.com/industry-analysis/digital-signage-market