Digital Signage Market to be Worth $45.33 Billion by 2030: Million Insights

News provided by

Dec 19, 2022, 06:30 ET

SAN FRANCISCO, Dec. 19, 2022 /PRNewswire/ -- The global digital signage market size is projected to reach USD 45.33 billion by 2030, advancing steadily at 7.7% CAGR during the assessment period. The continued growth of the commercial and industrial sectors in developed and developing nations has created significant growth opportunities for companies in this industry.

The use of digital signage has been pronounced across end-use industries such as retail, hospitality, banking, transportation, and healthcare, among others. For instance, in the retail sector, it is used for driving traffic, generating more sales, and influencing purchasing decisions. As such, more and more retailers are investing in deploying digital signage.
In terms of the type of digital signage, the transparent LED segment is expected to progress at the highest growth rate during the projection period. These screens can offer transparency levels above 80%, while also providing high resolution and being highly energy-efficient, which has boosted their appeal.
With regards to component, the hardware segment dominated the industry in 2021 in terms of revenue share and is expected to remain the segment leader during the forecast period. On the other hand, the services segment accounts for a smaller share, as major offerings like internet connectivity and digital display installation are cheaper compared to hardware & software needs.
In terms of the location of digital signage, the out-store segment is projected to advance at the highest CAGR through 2030, aided by the increasing demand for these signages at out-store locations in developing economies, due to advances made in the transportation sector.
Based on the content category, the broadcast category is expected to become a significant contributor to market revenue in the coming years. The content broadcast includes weather, news, and sports, among others. Of these, the sports sub-segment is projected to have a significant market share on account of the extensive presence of digital signage at sports stadiums and grounds.
The technologies utilized in the digital signage industry include LCDs, LEDs, and projection displays, with the LED segment spearheading the industry's growth. LEDs have witnessed significant technological advancements in recent years, with the popularity of OLED displays expected to drive the segment growth in the near future.
Companies involved in the digital signage industry aim to generate revenue through the introduction of innovative technologies and the launch of new products, besides partnerships and acquisitions. For instance, Philips Professional Display Solutions has launched the Philips S-Line, a range of stretched digital signages, featuring an ultra-wide 32:9 aspect ratio, a luminance of 700cd/m², and built for all-day operations.

Read 215 page full market research report for more Insights, "Digital Signage Market Size, Share & Trends Analysis Report By Type, By Component, By Technology, By Location, By Content Category, By Screen Size, By Application, By Region And Segment Forecasts From 2022 To 2030", published by Million Insights.

Digital Signage Market Growth & Trends

Digital signage involves the use of technologies such as LED, LCD, and projection, in order to propagate videos and information to target audiences. In large public spaces such as retail stores, museums, restaurants, hotels, and transportation systems, these displays are used for marketing, wayfinding, and advertising purposes. Major metropolitan cities across the globe have been observed to utilize this form of signage extensively.

The use of digital displays that utilize 4K technology is on a constant rise as they are able to display sharp and enhanced images. As companies aim to advertise their products through better visual quality, the demand for such digital signage is expected to advance further. The presence of panels using backlit LED offers energy-saving options for enterprises, while software providers are offering extensive design solutions for better compatibility with operating systems such as Android. The use of traditional advertising and marketing strategies, in many cases, incurs increased costs, which drives up long-term operational expenses; this can be largely avoided by using digital displays.

The retail sector has been a significant end-user of digital signage displays, as they offer benefits both for the enterprise and for the consumer. As per an article by ScreenCloud, more than 40% of shoppers have stated that the presence of digital displays helps in changing or modifying their buying patterns, through relevant information displays. Additionally, around 80% of customers state that the presence of digital signage leads them to enter a store, thus increasing footfall and generating product sales. Accordingly, leading global retail brands have invested significantly in digital signage technologies. For instance, Burberry has been at the forefront of using such signages, with their flagship outlet in London featuring mirrors that also work as video displays and iPads & RFID-enabled screens that show related catwalk footage, whenever a product is taken to fitting rooms.

Digital Signage Market Segmentation

Million Insights has segmented the global digital signage market on the basis of type, component, technology, location, content category, screen size, application, and region:

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

Video Walls
Video Screen
Transparent LED Screen
Digital Poster
Kiosks
Others

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

Hardware
Software
Service

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

LCD
LED
Projection

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

In-store
Out-store

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

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

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

Below 32 Inches
32 to 52 Inches
More than 52 Inches

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

Retail
Hospitality
Entertainment
Stadiums & Playgrounds
Corporate
Banking
Healthcare
Education
Transportation

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

North America
- U.S.
- Canada
- Mexico
Europe
- U.K.
- Germany
- France
Asia Pacific
- China
- Japan
- India
South America
- Brazil
Middle East & Africa

List of Key Players of Digital Signage Market

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

Read the Latest Press Releases by Million Insights:

Hand Sanitizer Market - The global hand sanitizer market is anticipated to be worth USD 10.84 billion by 2030, advancing at 6.8% CAGR from 2022 to 2030. Hand sanitizers have become an essential product in recent years, especially post the advent of the COVID-19 pandemic; governments, as well as private organizations, have repeatedly stressed the importance of maintaining the hygiene of hands, as they come in contact with several foreign particles throughout the day.
Personal Care Contract Manufacturing Market - The global personal care contract manufacturing market is expected to be worth USD 37.11 billion by 2030, advancing at a CAGR of 8.1% from 2022 to 2030. The continued growth in sales of cosmetics and personal care products such as creams, lotions, deodorants, soaps, and shampoos is expected to play a major role in driving the industry's advancement.
Bioanalytical Testing Services Market - The global bioanalytical testing services market size was valued at USD 3.64 billion in 2021 and is expected to reach USD 7.65 billion by 2030, registering a CAGR of 8.6% from 2022 to 2030. The growing trend in the outsourcing of research & development activities by biopharmaceutical companies for streamlining their fundamental capabilities is one of the primary factors boosting the market growth.
Contact Center Software Market - The global contact center software market size was valued at USD 23.94 billion in the year 2021 and is slated to value at USD 149.58 by 2030, exhibiting a CAGR of 23.2% from 2022 to 2030. Emerging technologies like cloud, AI, machine learning, and predictive analysis are likely to boost contact center capabilities. The surging awareness of consumer rights has led to the growth of customer queries across various industries.
COVID-19 Diagnostics Market - The global COVID-19 diagnostics market size was valued at USD 97.4 billion in 2021 and is expected to amass USD 50.1 billion in value by 2030, advancing at a CAGR of 7.7% during the period in focus. The advent of coronavirus infection was first detected in the year 2019 and has stressed the need for a reliable and accurate testing mechanism.

Explore more Market Research Reports by Million Insights, for industry specific reports that provide real-time market trends and forecasts, by condensing the integral elements from our industry reports into bite-sized paragraphs, charts, and tables.

Access More Press Releases

About Million Insights:

Million Insights, is a market research and consulting company, provides syndicated as well as customized research reports and consulting services. We have a comprehensive marketplace, that will enable you to compare data points, before you make a purchase. Enabling informed buying, is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.

Contact:
Ryan Manuel
Research Support Specialist, USA
Million Insights
Phone: 1-408-610-2300
Toll Free: 1-866-831-4085
Email: [email protected]
Web: https://www.millioninsights.com/
Follow Us: LinkedIn | Twitter