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Digital Signage Market Size, Share & Industry Analysis, By Component (Hardware, Software, Content, and Services), By Deployment (On-Premise, Cloud), By Location (Indoor, Outdoor), By Product Type (Video Walls, Digital Posters, Kiosks, Billboards, and Others), By Industry Vertical (Retail, Corporate, Hospitality, Transportation, Education, Healthcare, Sports and Entertainment,and Others) and Regional Forecast, 2019-2026

Region : Global | Published Date: Jan, 2020 | Report ID: FBI101898

 

KEY MARKET INSIGHTS

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The digital signage market has been proliferating in recent years. A significant factor in the widespread growth of this technology was the downfall in the prices of crucial hardware components such as LCD screens in digital signage. Developments in the electronic displays used in digital signage may offer new opportunities and advantages compared to the traditional signage. For instance, digital technology provides dynamic multimedia presentations containing audio, video, and animated content.


Smart city development initiatives has given a comprehensive platform for the deployment of digital signage solutions. The developments in ground-breaking technologies such as facial recognition capabilities offered by AI and others have boosted the developments in digital signage. For instance, facial recognition cameras allow the displays to recognize a customer’s expressions and suggest services based on the data.


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Interactive digital signage has brought a technological transformation in various industry verticals, including retail, financial services, smart city, transportation, and others. Advances in media players and the adoption of new screen technologies are among the growing digital signage market trends. For instance, Ebebek's mother and baby product retailer based in Turkey, and Phygital Mind, a retail specialist based in Istanbul, used large-format interactive kiosks intending to deliver a new concept for enhanced customer experience by fully integrating e-commerce with the assisted sale.


MARKET DRIVERS


“Increasing Demand for Enhanced Connectivity, Flexibility, and Affordability to Drive the Market “


Digital display helps to build a connection between the person or organization displaying the content and the person reading the content. Due to the improved flexibility of the hardware and software, the adoption of digital signage is gaining pace. Digital display hardware has become more affordable in recent years. Hence, organizations are making substantial investments in digital signage solutions. This factor is likely to drive the digital signage market.


“Growing Infrastructure Development across Industries to Expand the Market Size”


Retailers today leverage digital signage to create enhanced shopping experience, resulting in high sales. They make considerable investments in infrastructure of retail stores to reap the benefits of digitization.  Digital signage enables retailers to provide personalized offerings, theme-based digitally enhanced experience stores, and other advanced services.


In the banking and finance sector, digital signage solutions act as the customer touchpoints by providing them with increased control and information on demand. For instance, large scale video walls continuously display financial news, creating an immediate impact on customers. Digital signage can also reduce the waiting times by keeping the customers informed. Thus, the benefits, as mentioned above, will drive the demand for digital signage solutions and elevate the digital signage market value in the process.


SEGMENTATION


By Component Analysis


“Digital Signage Hardware to Gain More Demand Across Organizations”


Based on component, the market is classified into hardware, content, software, and services. Increasing demand for Digital signage hardware is expected to generate maximum revenue until 2026. The hardware segment comprises of LCD/LED display, media players, projector/projection screens, and other hardware.


The digital signage content segment is expected to note an exponential CAGR in the coming years. Providing relevant content is an essential factor in delivering sustainable advertising effects. The digital signs adopt the content based on the viewers’ reactions. Digital content includes contextual and interactive content. Hence, there is an increasing need for more creative content to grab the customer’s attention across various industries. Lack of interactive content or inadequate contextual content may restrict the market growth in the future.


Digital signage software solutions help to produce creative digital solutions. It also helps the users to enhance overall customer experience and support business goals. For instance, Scala is a cloud-based digital signage software that offers content scheduling, media libraries, and other automatic player updates.


Digital signage services include maintenance, planning, project services, and other technical implementation services. Maintenance services encompass content services, onsite service, warranty service, and others. Planning services include project planning, solution development, and others. System production, logistic services, and content creation are included in project services.


By Deployment Analysis


“Increasing Demand to Streamline the Content to Surge the Demand for Cloud-Based Digital Signage Software”


Based on deployment type, the market has been classified as cloud and on-premise. The advanced digital signage solution includes cloud-based digital signage software for content management. A cloud-based digital signage platform enables users to manage digital signage content, whereas the digital signage service provider maintains the server that hosts it.


Cloud-based digital signage software can be determined as a cloud-based content management system, dashboard, or interface. The dashboard enables the user to control the content on the digital signage display in real-time. Owing to these benefits, cloud-based digital signage software is expected to propel the market growth.


On-premise digital signage solution can be referred to as ‘do it yourself (DIY)’ solution. In an on-premise solution, the owner maintains the servers that host the digital signage content. The software that supports the on-premise solution may be a third-party or built in-house. There are several advantages of cloud-based solutions over on-premise solutions, including easier setup, less maintenance, remote access, and others.


By Location Analysis 


“Growing Digital Advertising to Spike the Demand for Outdoor Signage Solutions”


There are several types of digital signage solutions used in the market. Based on the location of deployment, the market has been segmented into indoor and outdoor digital signage solutions. The outdoor digital signage is expected to boom the market growth in coming years.Indoor digital signage solutions incorporate interactive kiosks that are deployed in subway stations, shopping malls,  and at airports.


In recent years, fast-food chains have applied digital signage solutions at their point-of-sale (POS) devices. Examples of outdoor digital signage solutions include LCD screens deployed in massive public areas such as Time Square in New York, Wall Street, and others. Also, stadiums and trade shows use the outdoor digital signage solutions on a large scale to provide information to the masses.


By Product Type Analysis


“Large Scale Deployment of Video Walls to Expand the Market Size”


Based on product type, the global digital signage market is segmented into video walls, kiosks, billboards, digital posters and others. The video walls segment is expected to generate maximum revenue during the forecast period. Video walls are of two types – LCD video walls and LED video walls. There is a continuous trend of using the LED video walls for advertisement among organizations.


Apart from this, the emergence of OLED (Organic Light-emitting Diodes) would drive the demand for video walls in the coming years. Video walls are considered a crucial factor in enhancing the digital signage market potential. Advancements in video walls, such as emergence of OLED, are likely to offer new market opportunities.


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Kiosks are projected to witness an exponential growth rate during the forecast period. Interactive digital signage kiosks provide information related to way finding, broadcasting, or customer services. Digital signage kiosks are mostly deployed in retail stores, big shopping malls, corporate buildings, and other places.


Other products which plays a significant role in implementing digital signage include billboards, digital menu boards, digital posters, and others.


By Industry Vertical


The market is bifurcated into retail, hospitality, corporate, transportation, education, healthcare, sports and entertainment, and others based on industry vertical. The retail industry is expected to hold the leading position in implementing digital signage solutions. In recent years, retailers are making substantial investments in digital signage solutions to offer advanced customer experience and gain actionable business insights.


Benefits of digital signage in retail business include brand awareness, effective communication, loyal customers, increase credibility among the visitors, and close more sales. Retailers use digital signage solutions for product promotions, advertisement campaigns, wayfinding maps, in-store entertainment, optimize print media costs, and others.


Digital signage in the corporate sector is expected to witness a remarkable growth rate in the coming years, according to the digital signage market research. There is an increasing demand for enhanced office communication solutions in the corporate industry. For instance, setting up booking room signage, dashboard signage, and others have modernized the office culture.


Furthermore, other industry verticals, including transportation, education, healthcare, sports and entertainment, and others, are expected to generate a significant market revenue in the near-term. Smart city initiatives, digitization, and other factors are likely to influence market growth.


Regional Analysis 


North America is forecasted to witness remarkable growth in the global digital signage market during the forecast period. The reduction of mass media such as broadcast and print has created a demand for digital signage solutions across the region. Moreover, the increased efficiency of promotions due to the adoption of digital signage has encouraged the adoption of digital signage solutions in North America. The U.S is the major contributor to the market growth in the region, aiding North America to lead the digital signage market share.


Asia Pacific is projected to exhibit an exponential CAGR due to the adoption of digital signage solutions in India, China, and other developing countries. Growing commercial, housing, and corporate trends are likely to generate tremendous demand for digital signage in APAC. Asia Pacific is considered one of the potential markets for digital signage solutions owing to the low prices of deploying electronic signage systems.


North America Digital Signage Market Size, 2018 (USD Billion)

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Europe is expected to hold a significant position in the global market. Continuous development in the manufacturing industry and high investments in digitization by business leaders such as Samsung Electronics, LG, and others will expand the market size in the region. UK, Germany, and Italy are expected to contribute a significant share in the digital signage market across the region.


The Middle East and Africa is expected to witness a moderate growth rate in the global market. For the last few years, organizations in the region are putting efforts to digitized the solutions and services offered across the region. Latin America is anticipated to have a steady growth compared to other markets.


INDUSTRY KEY PLAYERS


“Key Industry Players to Focus on Advancements in Digital Signage Hardware”


Key digital signage market leaders such as LG, Samsung, Sony, and other giants are observed to be more focused on providing digital signage hardware, including video walls, media players, projectors, and others.


For instance, Samsung offers video walls, digital signage displays & screens, and other hardware. Furthermore, the digital signage product portfolio of Samsung offers direct-view LED walls,8K QLED displays, 4K UHD displays, outdoor and window-facing signage, interactive touch displays, and others.


LG Electronics offers a range of digital signage products, which include video wall, LG standard signage, ultra HD large display, and other accessories. LG also provides indoor LED signage and outdoor LED signage. Similarly, other service providers offer various digital signage solutions.


List of Key Companies Profiled:



Report Coverage


The digital signage market report provides a thorough analysis of the market and focuses on key aspects such as leading companies, product/service types, and leading applications of digital signage. Besides, the report offers insights into market trends and highlights vital industry developments. In addition to the above-mentioned factors, the report encompasses several factors that have contributed to the growth of the market over recent years.


An Infographic Representation of Digital Signage Market

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 Report Scope & Segmentation

















































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD billion)



Segmentation



By Component



  • Hardware

  • Software

  • Content

  • Services



By Deployment  



  • On-Premise

  • Cloud



By Location



  • Indoor

  • Outdoor



By Product Type



  • Video Walls

  • Digital Posters

  • Kiosks

  • Billboards

  • Others



By Industry Vertical



  • Retail

  • Corporate

  • Hospitality

  • Transportation

  • Education

  • Healthcare

  • Sports and Entertainment

  • Others



By Region



  • North America (U.S. and Canada)

  • Europe (U.K., Germany, France, Scandinavia, and Rest of Europe)

  • Asia-Pacific (Japan, China, India, Southeast Asia, and Rest of Asia-Pacific)

  • Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)

  • Latin America (Brazil, Mexico, and Rest of Latin America)



INDUSTRY DEVELOPMENT:



  • September 2019- Samsung Electronics announced that it would support 8K HDR10+ content, in partnership with primary European streaming services. HDR10+ technology optimizes the contrast ratio. This feature is available on UHD TV’s and 8K models, including Samsung’s QLED TV’s.

  • March 2017 - LG Electronics launched the razor-thin, lightweight LG OLED wallpaper that is a commercial display and new, flexible, and customizable open frame display. It empowers businesses to provide the best picture quality.


Frequently Asked Questions

As per Fortune Business Insights study, the global digital signage market is predicted to reach USD 35.94 billion by 2026, with a CAGR of 7.8% (2019 -2026).

As per our study, in 2018, global digital signage market value at USD 19.78 billion, and it is anticipated to reach USD 35.94 billion by 2026 at a CAGR of 7.8% during the forecast period (2019 -2026).

Globally, spending on digital signage solutions is increasing each year. Some of the regions, such as North America, generated a revenue of USD 8.32 billion in 2018 and is expected to generate a remarkable revenue share by 2026.

In the digital signage market, hardware and content are the leading component segments as there is a growing demand for hardware and content to leverage digital signage solutions.

The critical driving factor for the digital signage market is the increasing demand for enhanced connectivity, flexibility and affordability.

In the digital signage market, some of the key players are Samsung, LG Electronics, Sony, and others. These players are focusing on advancements in digital signage hardware.

North America is expected to hold the highest market share in the digital signage market. The reduction of mass media such as broadcast and print has created a demand for digital signage solutions across the region.

Asia Pacific is projected to witness a fast growth rate in the digital signage market. Growing commercial, housing, and corporate trends are likely to generate tremendous demand for digital signage in APAC.

Digital Signage Market Size, Share and Global Industry Trend Forecast till 2026
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