Digital Signage Market Registering A CAGR Of 7.7% By 2028
Posted by rahul nikade on December 28th, 2022
Digital Signage Industry Overview
The global digital signage market size was estimated at USD 23.12 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.7% from 2022 to 2030.
This market growth is accredited to the increasing demand for the digitized promotion of products and services to attract the attention of the target audience in an effective manner. Furthermore, the demand for 4K digitized sign displays with the embedded software and media player is rising as it offers customers an affordable Ultra HD digital signage solution, which is also expected to drive the demand. The evolution of innovative products, such as home monitoring systems, leak detector systems, and so on, along with complicated monetary products, such as forex cards, that need informative and succinct advertisement content are some of the factors that are predicted to drive the product demand.
Gather more insights about the market drivers, restrains and growth of the Global Digital Signage Market
Moreover, there is a rising demand for adopting advanced products that require digitized information management and guidance that can be accessed from remote locations. This is one of the key drivers anticipated to drive the global industry during the forecast period. Digitized signs offer the necessary quality information to a large number of viewers by utilizing large display screens across the location with a concentrated target audience. With digitized display technology, information is provided in a digitized format that includes motion and pictures to attract customers with more impact as compared to the traditional modes of reaching out to customers. In addition, the integration of biometric technology with modern digitized signs has developed products, such as track heat paths and gaze tracking.
Gaze tracking technology helps in locating the area, which is crowded with a greater number of consumers, thereby helping the companies to track the consumer behavior for effective marketing of products. Thus, the growing use of the aforementioned technology is expected to strengthen the demand in the next few years. Eventually, the growing awareness among the consumers regarding the drawbacks and complexity of traditional advertising, such as short-lived print marketing and so on, is instigating digitized advertisement adoption. Furthermore, display designers, researchers, and advertisement companies are spending more on the improvement of the product’s display technology.
All these factors are expected to catalyze the overall industry growth. With the advancement in display technologies, the evolution of LCD, LED, UHD, OLED, and Super AMOLED is further strengthening the industry growth. These technologies have led to the enhancement of the quality of advertisement content, thus creating a favorable impact on the target audience. The adoption of such technologies by digital poster providers is anticipated to boost the overall industry growth. However, factors, such as software & hardware compatibility, electrical interface, and connectivity, are some prevailing issues that may hinder the market growth. Moreover, the complex taxations levied upon the erection of digitized signs and screens, coupled with the regulatory processes, such as licensing, are projected to hamper the growth.
Browse through Grand View Research's Display Technologies Industry Research Reports.
Digital Signage Market Segmentation
Grand View Research has segmented the global digital signage market on the basis of type, component, technology, location, content category, screen size, application, and region:
Digital Signage Type Outlook (Revenue, USD Million, 2017 - 2030)
Digital Signage Component Outlook (Revenue, USD Million, 2017 - 2030)
Digital Signage Technology Outlook (Revenue, USD Million, 2017 - 2030)
Digital Signage Location Outlook (Revenue, USD Million, 2017 - 2030)
Digital Signage Content Category Outlook (Revenue, USD Million, 2017 - 2030)
Digital Signage Screen Size Outlook (Revenue, USD Million, 2017 - 2030)
Digital Signage Application Outlook (Revenue, USD Million, 2017 - 2030)
Digital Signage Regional Outlook (Revenue, USD Million, 2017 - 2030)
Key Companies profiled:
Some prominent players in the global digital signage market include
Order a free sample PDF of the Digital Signage Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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About the Authorrahul nikade
Joined: July 20th, 2022
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