The “Digital Signage Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Digital Signage Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global digital signage market size was US$ 3,626.8 million in 2021. The global digital signage market is forecast to grow to US$ 12,388 million by 2030 by growing at a compound annual growth rate (CAGR) of 16.1% during the forecast period from 2022 to 2030.
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Digital signage displays the content on the electronic screen. Digital signage technology is more preferred over traditional small and micro-display screens with large wall-sized LEDs. Digital signage finds its applications in the areas where high-quality technology is required to engage the customers/audiences with its wider viewing angle.
Factors Influencing the Market
Electronic signage systems are a cost-effective medium to promote the product or service. Thus, the growing demand for effective advertisements will surge the growth of the global digital signage market.
The continuously declining cost of displays and improved customer experience will surge the growth of the digital signage market.
The rapidly growing education sector and the growing number of technological developments will offer ample growth opportunities for the digital signage market. Panasonic unveiled high brightness projection and real-time tracking in January 2019. Thus, such advancements are likely to benefit the digital signage market during the study period.
Increasing demand for bright and power-efficient display panels will escalate the market growth. Moreover, the growing number of smart city projects and high investments will drive the digital signage market forward.
Rapid digitalization and reducing demand for traditional billboards will bring lucrative growth opportunities during the study period. On the contrary, the presence of prominent widescreen alternatives such as projectors and screenless displays may limit the growth of the global digital signage market.
COVID-19 Impact Analysis
The sudden onset of the COVID-19 pandemic increased the demand for digitization. However, the digital signage industry witnessed various disruptions due to the shortage of raw materials caused by travel restrictions. In addition, halt on manufacturing units and declining consumer demands significantly hampered the growth of the global digital signage market.
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Regional Analysis
The Asia-Pacific digital signage market is forecast to register the highest growth rate. It is due to the growing advertising industry and growing adoption of these services by government bodies in order to enhance their public offering. In addition, the growing number of smart city programs will significantly contribute to the growth of the global digital signage market.
Competitors in the Market
- NEC Display Solutions Ltd
- Samsung Electronics Co. Ltd
- LG Display Co. Ltd
- Panasonic Corporation
- Sony Corporation
- Sharp Corporation
- Planar Systems Inc.
- Hitachi Ltd
- Barco NV
- GOODVIEW
- Cisco Systems Inc.
- Other Prominent Players
Market Segmentation
The global digital signage market segmentation focuses on Type, End-User, and Region.
By Type Outlook
- Hardware
- LCD/LED Display
- OLED Display
- Media Players
- Projector/Projection Screens
- Other Hardware
- Software
- Services
By End-User Outlook
- Retail
- Transportation
- Hospitality
- Corporate
- Education
- Government
- Other End-user
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By Regional Outlook
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
What are the key findings of the report?
?This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
?The report offers the current state of the market and future prospects for various geographical regions.
?This report provides both qualitative and quantitative information about the competitive landscape of the market.
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