Digital Signage Market revenue growth $27.8 Bn, at a CAGR of 11.2%
The report “Digital Signage Market with COVID-19 Impact Analysis by Offering (Hardware, Software, Services), Product, Display Size, Installation Location, Application (Retail, Healthcare, Hospitality, BFSI, Education), and Geography – Global Forecast to 2026″ The global digital signage market will grow to USD 27.8 billion by 2026 (forecast year) from USD 16.3 billion in 2021 (estimated year), at a CAGR of 11.2% between 2021 to 2026. The key drivers fueling the growth of this market include the growing adoption of digital signage in commercial applications, increasing infrastructure developments in emerging countries, surging demand for 4K & 8K resolution displays, and ongoing technological advancements in displays.
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Browse 154 market data Tables and 62 Figures spread through 265 Pages and in-depth TOC on “Digital Signage Market with COVID-19 Impact Analysis by Offering (Hardware, Software, Services), Product, Display Size, Installation Location, Application (Retail, Healthcare, Hospitality, BFSI, Education), and Geography – Global Forecast to 2026″
View detailed Table of Content here – https://www.marketsandmarkets.com/Market-Reports/digital-signage-market-513.html
Segment Covered :
- By Offering,
- By Product,
- By Installation Location,
- By Display Size,
- By Application, and
- By Region
The software segment to register higher CAGR during the forecast period
Technological advancements, rising need for real-time content delivery, and increasing applications of smart signage have led to the growth of the software segment of the digital signage market. The higher frequency of purchases and subscriptions associated with digital signage software due to various useful benefits offered by it complemented with the low purchasing frequency of hardware devices due to their long operational life is another major factor contributing to the growth of the software segment. Software licenses need to be purchased and upgraded at regular intervals, which is further expected to accelerate the market growth of software in coming years.
Important factors that are driving the growth of the digital signage market:
Growing adoption of digital signage in commercial applications: The use of digital signage is becoming more prevalent across various industries, including retail, hospitality, healthcare, transportation, and education. This is due to the many benefits that digital signage offers, such as dynamic content delivery, real-time updates, and targeted messaging.
Increasing infrastructure developments in emerging countries: Many emerging countries are investing heavily in infrastructure development, including transportation hubs, shopping centers, and office buildings. Digital signage is being installed in these locations to enhance the customer experience and provide valuable information.
Surging demand for 4K & 8K resolution displays: With the increasing popularity of high-resolution displays, such as 4K and 8K, there is a growing demand for digital signage solutions that can support these resolutions. This is particularly important for applications such as advertising and digital art displays.
Ongoing technological advancements in displays: Technological advancements in display technology, such as LED, OLED, and micro-LED, are driving the growth of the digital signage market. These advancements are making displays brighter, more energy-efficient, and more durable, which is making them more attractive to businesses and organizations.
The indoor installation segment to hold the largest market share in 2026
Indoor signage has witnessed significant demand in healthcare, education, corporate and broadcast, and retail applications. The demand for indoor signage in these applications mainly stems from the ongoing adoption of immersive and highly interactive display technologies. Additionally, the rapid adoption of self-service kiosks, which allow customers in retail applications to browse digital products and make purchases, is further driving the growth of the market for indoor digital signage. Indoor digital signage products, such as interactive digital screens, influence customers’ purchase decisions. Meanwhile, the usage of indoor digital menu boards helps improve operational efficiency and customer experience. Samsung, NEC, and LG are among the major players focusing on a wide range of indoor digital signage applications.
APAC to register higher CAGR during the forecast period
APAC is projected to lead the digital signage market from 2021 to 2026. Increasing adoption of the Internet of Things (IoT) and technologies that enable digital transformation across various sectors such as commercial, institutional, infrastructure, and industrial has fueled the demand for digital signage in APAC. In addition, strong economic growth, rise in consumerism, growth in the standards of living, increase in disposable income, high technological advancements, growth of retail space, and changes in lifestyles have accelerated the adoption of strong and reliable advertising media in the countries of the region. However, the rise of online advertising and issues related to the adoption of digital signage in various applications are expected to restrict the growth of the digital signage market in APAC.
Major players in the digital signage market are Samsung Electronics (South Korea), LG Electronics (South Korea), Sharp Corporation (Japan), Leyard Optoelectronic (US), Sony Corporation (Japan), Barco (Belgium), Panasonic Corporation (Japan), Shanghai Goodview Electronics (China), AU Optronics (Taiwan), and BrightSign (US). The top players have adopted merger & acquisition, partnership, collaboration, and product launch strategies to grow in the global precision farming market.
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