Based on a report published by Grand View Research, Inc.; the global digital signage market is anticipated to attain USD 31.71 billion by 2025. High demand for digital advertisement boards to promote products and services is expected drive market growth over the forecast period (2014 to 2025). Increasing use of remote access products demanding digitized information management can drive market growth. Emergence of innovative products like leak detector systems and home monitoring systems can also boost market expansion in near future.
Rising consumer awareness regarding shortcomings of conventional ways of advertisement like shot-lived printing marketing can spur growth of market over the forecast period. Initiatives led by researchers, display designers, and advertisement companies to improve digital signage display technology is projected to positively influence market expansion. In addition, growing awareness regarding drawbacks of conventional advertising such as short-lived print marketing can stimulate demand over the forecast period. However, factors including electrical interface, software and hardware compatibility, and networking can hamper growth to certain extent. In addition, regulations pertaining to licensing and taxes levied on digital screens and signage can obstruct market growth.
Full Research Report On Digital Signage Market Analysis: www.grandviewresearch.com/industry-analysis/digital-signage-market
The worldwide digital signage market is segregated on the basis of component, type, technology, application, content category, location, size, and region. Based on type, the market is categorized into video screens, digital posters, video walls, transparent LED screens, kiosks, and others. Based on components, the market is classified into software, hardware, and services. Hardware component segment is likely to continue dominating the market during the forecast period. Higher demand compared to software is anticipated to propel the growth of the segment. Software segment is expected to register steady CAGR in near future.
Based on application, the market is divided into banking, healthcare, retail, corporate, education, and transportation. In 2016, the retail sector held the highest market share. Rising demand for digital advertisements among retailers to promote their products and services can be attributed to the growth of this segment. Banking sector is also projected to witness significant adoption of digital signage owing to vast presence of ATMs, banks, among other banking facilities.
Based on location, the market is bifurcated into out-store and in-store. In 2016, in-store location held largest market share owing to increasing use of digital advertisement by retail stores. The segment is expected to witness similar growth during the forecast period. Out-store location segment is anticipated to witness significant growth over the forecast period attributed to expanding transportation sector in emerging nations. In addition, rising number of live concerts and events using digital posters in open areas can positively influence growth of segment over the forecast period.
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Based on content category, the market is segregated into sports, weather, news, health and wellness, and vertically oriented content. In 2016, the vertically oriented content segment held the dominant market share of more than 50%. It is estimated to grow at similar pace over the forecast period. Health and wellness segment accounted for significant market share owing to rising use of digital boards for communication purposes in corporate and health sectors.
Based on size, the market can be split into 32 to 52 inches, below 32 inches, and more than 52 inches. In 2016, the below 32 inches display segment held the largest market share owing to increasing use in retail sector. Retail segment is anticipated to dominate the market over the forecast period. Lack of space in retail shops is projected to positively influence the demand for small-sized digital signage. The 32 to 52 inch display segment is anticipated to witness the fastest growth in near future owing to rising use in corporate, retail, and healthcare sectors.
Regional segmentation includes Europe, North America, Asia Pacific, South America, and Middle East and Africa. Europe and North America are expected to dominate the market during the forecast period. Growing number of industrial product and equipment suppliers can propel regional growth. In addition, rising demand for digitized displays from retail sector can also boost demand in the forthcoming years. Countries like Germany, U.K., and U.S. are projected to witness substantial rise in demand in the years to come. Rising R&D activities among manufacturing companies to improve quality of advertising content can further augment growth.
Asia Pacific, nevertheless, is set to emerge as the market leader by 2025. Rising consumer awareness regarding advantages of advertising, marketing, and digital signage can drive regional growth. India, China, and South Korea are likely to witness significant rise in demand attributed to applications in banks, retail stores, hospitals, and offices. In addition, growth of transportation sector in Asia Pacific can further boost market expansion. Moreover, rising disposable income of consumers is driving businesses of multiplexes and malls in developing economies. Hence, store owners are using large displays for product advertisement.
Some of the leading companies operating in the digital signage market are Omnivex Corporation, Microsoft Corporation, NEC Display Solutions, Ltd., LG Electronics, and Panasonic Corporation.
Grand View Research has segmented the global digital signage market based on types, components, technologies, applications, locations, content categories, sizes, and regions:
Digital Signage Type Outlook (USD Million; 2014 – 2025)
Video walls
Video screens
Transparent LED screens
Digital posters
Kiosks
Others
Digital Signage Component Outlook (USD Million; 2014 – 2025)
Hardware
Software
Services
Digital Signage Technology Outlook (USD Million; 2014 – 2025)
LCD
LED
Projection
Digital Signage Application Outlook (USD Million; 2014 – 2025)
Retail
Corporate
Banking
Healthcare
Education
Transportation
Digital Signage Location Outlook (USD Million; 2014 – 2025)
In-store
Out-store
Digital Signage Content Category Outlook (USD Million; 2014 – 2025)
News
Weather
Sports
Health & Wellness
Vertically Oriented Content
Digital Signage Size Outlook (USD Million; 2014 – 2025)
Below 32 inches
32 to 52 inches
More than 52 inches
Digital Signage Regional Outlook (USD Million; 2014 – 2025)
North America
U.S.
Canada
Mexico
Europe
Germany
UK
Asia Pacific
China
India
Japan
South America
Brazil
Middle East & Africa
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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