Digital Signage Market size is set to grow by USD 9855.3 mn from 2024-2028, high growth of retail space to boost the market growth, Technavio

NEW YORK, May 16, 2024 /PRNewswire/ -- The global digital signage market  size is estimated to grow by USD 9855.3 mn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 9.95%  during the forecast period. 

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Key Market Trends Fueling Growth

The digital signage market encompasses various sectors, including internet users, advertising, large audiences, social media platforms, apps, retail media, digital gaming environments, the 3PL market, retail, banking, hospitality, entertainment, healthcare, and dynamic content delivery. Key technologies driving this market are real-time updates, targeted messaging, product promotion, and in-store customer experience. Media used include LED media boards, digital display panels, video walls, projectors, and multimedia content. Computerized systems, software, and traditional static signs are also part of this market, offering location-based solutions for retail establishments, airports, and other venues. 

Market Challenges

• The e-commerce industry's expansion has led to the rise of numerous online retailers, some of which have grown into large organizations. This shift towards online shopping has decreased the reliance on physical retail stores for consumers. However, the decline in traditional retail stores could impact the demand for digital signage equipment, particularly in sectors like hotels, restaurants, and corporate offices. Technological advancements, such as near field communication, touch screen technology, and artificial intelligence, continue to shape the digital signage market. Additionally, emerging display technologies like micro-LED and quantum dots, as well as 5G technology and touchless solutions, are driving growth in this sector. The retail industry's digitalization and the use of advanced technologies for personalized content delivery, audience analytics, and real-time data-driven decision-making are also key factors. Market consolidation, strategic expansion, partnerships, and collaborations among digital signage providers are shaping the competitive landscape.

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Segment Overview 

This digital signage market report extensively covers market segmentation by

1. Application 
• 1.1 Retail
• 1.2 QSR and restaurants
• 1.3 Education
• 1.4 Healthcare
• 1.5 Others
2. Component 
• 2.1 Hardware
• 2.2 Software
• 2.3 Services
3. Geography 
• 3.1 North America
• 3.2 APAC
• 3.3 Europe
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Retail-  The digital signage market encompasses various applications, notably in the Hospitality and Food Service sectors, where it enhances customer experience in Hotels and Restaurants. Corporate offices and Transportation centers also leverage this technology for wayfinding and information dissemination. Technological developments, such as Near Field Communication and Touch Screen Technology, have revolutionized digital signage, offering Single screen displays and Kiosks for Public Transports. The Educational sector benefits from cost-effective solutions, while Government offices adopt advanced technologies like Artificial Intelligence and Machine Learning for audience analytics and real-time data-driven decision-making. Rapid digitalization in the Retail Industry necessitates personalized content delivery using 5G technology and touchless & interactive solutions. Market consolidation, strategic expansion, and partnerships among digital signage providers continue, with Electronic giants investing in Large screen displays and emerging display technologies like Micro-LED and Quantum dots. Online advertisement and broadcast further expand the market's reach.

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Research Analysis

The Digital Signage Market encompasses various solutions, including LED media boards and digital display panels, that cater to the communication needs of diverse sectors. These solutions offer real-time content updates, making them an excellent alternative to traditional static signs. Video walls and projectors are other integral components of this market, delivering multimedia content through computerized systems and software. Technological developments have led to the emergence of innovative displays, such as micro-LED and large screen technologies, enhancing the customer experience. Government offices and the educational sector are significant end-users, leveraging these solutions for effective communication. Remote management and communication platforms ensure seamless hardware service and maintenance. Power problems can be mitigated through advancements in display technology, and screenless displays are gaining popularity as energy-efficient alternatives. The cost of displays continues to decrease, making digital signage an increasingly attractive investment for businesses.

The Digital Signage Market encompasses a wide range of technologies and applications that enable businesses and organizations to display real-time information, advertising, and content on digital screens. These displays can be found in various industries, including retail, healthcare, education, transportation, and hospitality. Digital signage systems offer numerous benefits, such as increased engagement, improved customer experience, and real-time messaging capabilities. They can be managed centrally, allowing for easy content updates and scheduling. Additionally, digital signage can be integrated with other technologies, such as Wi-Fi, Bluetooth, and GPS, to provide location-based and personalized content. The market for digital signage is expected to grow significantly in the coming years due to the increasing demand for interactive and dynamic displays.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• Retail
• QSR And Restaurants
• Education
• Healthcare
• Others
• Component
• Hardware
• Software
• Services
• Geography
• North America
• APAC
• Europe
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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