Digital Signage Market Size Worth USD 35.64 Billion in 2032 | Emergen Research
VANCOUVER, B.C., March 7, 2023 /PRNewswire/ -- The Digital Signage market size was valued at USD 17.70 Billion in 2022 and is projected to reach valuation of USD 35.64 Billion in 2032 growing at a CAGR of 7.2% during the forecast period, according to a recent report by Emergen Research. Digital signage is a form of electronic display that can be found in public spaces, transportation systems, retail stores, and other locations. The ability to broadcast information in real-time has made it an essential tool for communicating with a variety of audiences.
The rising demand for digital signage can be attributed to several factors. The increasing adoption of digital signage in the retail and hospitality industries has been driven by the desire to enhance customer experience and engagement. Digital signage is often used to display advertisements, menu boards, and promotional content in a visually appealing manner that grabs customers' attention. The healthcare industry is also adopting digital signage to provide patients with information about their care, as well as to enhance communication between healthcare providers.
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The growth of the digital signage market is also being driven by technological advancements such as the development of ultra-high-definition (UHD) displays and the increasing availability of cloud-based digital signage solutions. Cloud-based digital signage solutions offer several advantages, including remote management, real-time updates, and easy scalability. These solutions are becoming increasingly popular among businesses and organizations that require digital signage for multiple locations.
However, there are several challenges that are hindering the growth of the digital signage market. One major challenge is the high initial cost of implementation, which can be a barrier for small businesses. Another challenge is the need for effective content creation and management. Many organizations struggle to create and manage engaging content that can hold the attention of their target audience.
Despite these challenges, the digital signage market is projected to grow significantly in the coming years. The increasing demand for interactive and personalized digital signage solutions is expected to drive growth in the market. Additionally, the integration of artificial intelligence (AI) and machine learning (ML) into digital signage solutions is expected to create new opportunities for growth.
The Asia Pacific region is expected to witness significant growth in the digital signage market due to the increasing adoption of digital signage in the retail and hospitality industries. The North American market is also expected to grow due to the high demand for digital signage in the healthcare and transportation industries.
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Current Trends and Innovations:
The Digital Signage Market is rapidly expanding and transforming the way businesses communicate with their target audience. Digital signage refers to the use of digital displays to convey information, advertising, and messages to a specific audience. Digital signage can be found in various locations such as retail stores, restaurants, hospitals, transportation hubs, and corporate offices.
The global digital signage market is expected to grow significantly in the coming years due to the increasing adoption of digital signage solutions in various industries such as retail, hospitality, transportation, and healthcare. Digital signage provides an interactive and engaging platform for businesses to promote their products and services, enhance customer experience, and improve overall business efficiency.
The retail industry is one of the largest users of digital signage solutions. Retailers use digital signage to promote their products, provide information, and offer interactive experiences to their customers. In addition, the hospitality industry uses digital signage to provide information, directions, and entertainment to guests in hotels, restaurants, and other hospitality settings.
The healthcare industry is also a growing market for digital signage. Digital signage can be used in hospitals and clinics to provide patients with information, entertainment, and directions. It can also be used to display important healthcare messages and to promote healthcare services.
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Major companies included in the digital signage market report are LG Electronics, Samsung Electronics, NEC Corporation, Sharp Corporation, Sony Corporation, Planar Systems, Panasonic Corporation, Scala Inc., Christie Digital Systems, and Omnivex Corporation.
In recent news, several strategic initiatives have been taken by companies in the digital signage market to strengthen their market position. For example, on December 8, 2021, LG Electronics announced the launch of its new OLED digital signage display with AI-powered upscaling technology. This new display provides an enhanced visual experience for businesses and organizations looking to improve their digital signage solutions.
Similarly, on January 12, 2022, Samsung Electronics announced the launch of its new digital signage display, the Samsung SMART Signage QBR Series. This new display provides advanced features such as 4K UHD resolution, enhanced brightness, and simplified content management.
Scope of Research
Market size in 2022
USD 17.70 Billion
Revenue forecast to 2032
USD 35.64 Billion
Base year for estimation
Revenue in USD Million and CAGR in % from 2023 to 2032.
Revenue forecast, company ranking, competitive landscape, growth factors, and trends.
Offering, product, display size, installation location, application, and region.
North America; Europe; Asia Pacific; Latin America; Middle East & Africa.
U.S., Canada, Mexico, Germany, U.K., France, Spain, BENELUX, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, Israel, Rest of MEA.
Key companies profiled
Samsung, LG Electronics, Sharp Corporation, Leyard, Sony Corporation, Barco, Panasonic Corporation, Goodview Company, AUO Corporation, BrightSign, LLC.
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Segments Covered in Report
For the purpose of this report, Emergen Research has segmented the global digital signage market on the basis of offering, product, display size, installation location, application, and region:
- Offering Outlook (Revenue, USD Billion; 2019–2032)
- Product Outlook (Revenue, USD Billion; 2019–2032)
- Standalone Display
- Video Wall
- Display Size Outlook (Revenue, USD Billion; 2019–2032)
- Below 32 inches
- Between 32 and 52 inches
- Above 52 inches
- Installation Location Outlook (Revenue, USD Billion; 2019–2032)
- Application Type Outlook (Revenue, USD Billion; 2019–2032)
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