The global Digital Signage System Market valuation is USD 19.33 billion in 2023. The demand for digital signage systems is projected to grow at a CAGR of 11.8% from 2023 to 2033. The overall market valuation is likely to surpass USD 59.16 billion by 2033.
Trends in the Digital Signage System Market
| Report Attributes or Data Points | Details |
|---|---|
| Digital Signage System Market Size in 2023 | USD 19.33 billion |
| Forecasted Global Market Size by 2033 | USD 59.16 billion |
| Projected Global Market Growth Rate from 2023 to 2033 | 11.8% CAGR |
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The demand for digital signage systems grew substantially after 2018 before experiencing a brief period of downturn during the years 2020 and 2021. By 2022, sales of digital signage displays worldwide were around USD 17.54 billion.
| Historical Market Valuation, 2022 | USD 17.54 billion |
|---|
Digitalization in emerging nations and the technical progress in display technology are the primary drivers of the overall growth of the digital signage system industry.
Also, the rapidly rising business vertical adoption of digital signage systems is strengthening the digital advertising solutions industry. Furthermore, the spread of smart cities presents considerable prospects for expanding the digital advertising solutions industry, which could further augment market growth.
The digital signage system reduces the use of traditional signage materials, such as paper and paint, making it more eco-friendly. It is also suitable for advertising with a high target audience. However, the growing tendency of internet advertising impedes the market's growth to some extent.
Capabilities, such as extending display size by connecting to other multiple screens with fan-less design to prevent malfunctioning, have increased the popularity of digital signage.
Also, real-time content updates by remote access, monitoring, and controlling is a remarkable advantage of such signage driving their sales worldwide. Moreover, tamper-resistant screens for dynamic interactivity are some of the other key factors driving the adoption of digital signage systems.
Cloud-based digital signage systems and portable digital signage displays with compact digital displays are preferred, owing to their capabilities to deliver real-time content.
It also reduces upfront expenses by reducing the need for on-premises equipment and cuts the total cost of ownership because no on-premises server is required. The availability of a subscription model could drive the adoption of cloud-based digital signage since companies may employ them based on their business needs.
Several digital signage solution vendors are now providing cloud-based digital signage platforms and solutions that rely on web-based digital signage software.
This has, in turn, made way for the emergence of digital signage content management systems to show messages and information on screens. These cloud solutions are extremely adaptable, dependable, and less complicated to operate than server-based onsite digital signage solutions.
Principal Consultant
| Country | CAGR (2023 to 2033) |
|---|---|
| United States | 10.1% |
| Germany | 10.4% |
| United Kingdom | 9.5% |
| India | 12.7% |
| China | 11% |
The adoption of digital signage systems in the United States is poised to advance at 10.1% CAGR from 2023 to 2033. The presence of dedicated product suppliers and increased demand for signs in the retail business are attributable to such a high growth rate.
The United States, in particular, is expected to grow significantly, owing to increased research and development activities by companies to improve the quality of signage. Federal initiatives to install digital signage at various offices to maintain continuous information flow systems are expected to drive the regional market.
The demand for digital signage systems in the United Kingdom is poised to grow at a 9.5% CAGR over the projected years. This significant rise is related to the expansion of committed product suppliers and the rising need for signs in the retail sector.
The usage of digital signage in tourist spots is anticipated to rise over time due to the country's emphasis on the tourism sector.
Over the next ten years, sales of digital signage systems are expected to progress at a 10.4% annual growth rate. Particularly in Germany, significant growth is anticipated, largely as a result of increased research and development efforts by businesses to improve display quality.
Moreover, an established industrial base for the development of electronic gadgets and devices is expected to favor further development of the regional market.
India is poised to witness a robust CAGR of 12.7% in the installation and use of digital signage displays through 2033. Due to the increasing use of this technology in retail establishments, corporate offices, hospitals, and hotels, India is expected to have significant growth.
Increasing disposable income has increased the number of visitors to malls and multiplex stores in India, creating a huge opportunity for commercial digital signage.
Digital signage manufacturers in India are making use of this chance to sell their products through collaborations with management to attract the targeted audience better. With the increasing number of shopping malls and multiplexes, digital signage usage in the hospitality industry is likely to rise throughout the projection period.
Growing public knowledge of the value chain for retail digital signage can be credited with the rise in China. Over the course of the projected period, China is anticipated to become the region with an anticipated CAGR of 11% through 2033. Government support in China is anticipated to broaden its display signage industry at a higher CAGR, making it the most lucrative country in the Asia Pacific region.
Below is a table for a comparison of the performance of several regional markets in sales of digital signage systems through 2033. Countries in North America and Europe have a sizable market share in the digital signage market among all regions. Over the projection period, Asian countries are predicted to be the lucrative regional markets.
Due to the presence of rising economies such as India, China, Taiwan, and South Korea in this region, Asia Pacific is likely to grow rapidly during the forecast period, contributing more than 20% of the market share.
In 2023, the OLED and LED display technology segment holds a sizable share of 64.3% of the market by technology. The advertising and marketing sector has widely adopted LED technology as it is simple and inexpensive to maintain.
This segment could grow at a faster rate as manufacturers continue to create flat-panelled OLED and LED displays that are bigger, brighter, and thinner.
| Top Technology Type | Market Share in 2023 |
|---|---|
| OLED and LED Display Technology | 64.3% |
Based on software type, the content management segment dominates the market and holds a share of 42.3% in 2023. This segment is growing since digital signage is being used more often to show multiple content at several locations when competitions are underway.
| Top Software Type | Market Share in 2023 |
|---|---|
| Content Management | 42.3% |
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The introduction of advanced signage solutions and software is the prominent strategy that the leading market players are adopting. The combination of advanced digital signage solutions with corporate mergers creates a multi-billion-dollar market.
Collaboration with other organizations, joint ventures or partnerships, and acquisitions & mergers are a few strategies followed by key players operating in the digital signage system market.
Recent Developments in the Digital Signage System Market
| Attributes | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million or billion for Value |
| By Technology | LCD or Plasma, OLED and LED Display Technology |
| By Software | Content Management Software, Distribution, Scheduling Software |
| By Type | Indoor, Outdoor |
| By Application | Corporate and Commercial Sector, Manufacturing, Educational Institutes, Government, Banking and Financial Institutes, Transportation, Retail and Wholesale, Media and Entertainment, Healthcare |
| Key Players | Cisco Systems, Inc.; Samsung Electronics Co. Ltd.; NEC Display Solutions, Ltd.; Broad Sign International, Inc.; Panasonic Corporation; Smart Digital Signage Inc.; Out Front Digital Communications; Israk Technology; Net Display Systems PADS; WinMate Communication Inc.; Visix, Inc.; Corum Digital Corporation; Almo Professional A/V; ADFLOW Networks; Mermaid vTouch Pro |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The global market value is estimated at USD 19.3 billion in 2023.
The global market is likely to grow at an 11.8% CAGR through 2033.
Cisco, Samsung, and Panasonic are the leading players in the current market.
The United States accounts for nearly 19.3% of the revenue share of the global market.
In 2023, China represented 7.8% of the global digital signage industry share.
India currently accounts for 6.9% of the global market share in 2023.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market 2018 to 2022 and Forecast 2023 to 2033, By Technology 5.1. LCD or Plasma 5.2. OLED and LED Display Technology 6. Global Market 2018 to 2022 and Forecast 2023 to 2033, By Software 6.1. Content Management Software 6.2. Distribution 6.3. Scheduling Software 7. Global Market 2018 to 2022 and Forecast 2023 to 2033, By Type 7.1. Indoor 7.2. Outdoor 8. Global Market 2018 to 2022 and Forecast 2023 to 2033, By Application 8.1. Corporate and Commercial Sector 8.2. Manufacturing 8.3. Educational Institutes 8.4. Government 8.5. Banking and Financial Institutes 8.6. Transportation 8.7. Retail and Wholesale 8.8. Media and Entertainment 8.9. Healthcare 9. Global Market 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. South Asia and Pacific 9.6. East Asia 9.7. Middle East and Africa 10. North America Market 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Western Europe Market 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Eastern Europe Market 2018 to 2022 and Forecast 2023 to 2033, By Country 14. South Asia and Pacific Market 2018 to 2022 and Forecast 2023 to 2033, By Country 15. East Asia Market 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Middle East and Africa Market 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Key Countries Market 18. Market Structure Analysis 19. Competition Analysis 19.1. Cisco Systems, Inc. 19.2. Samsung Electronics Co. Ltd. 19.3. NEC Display Solutions, Ltd. 19.4. Broad Sign International, Inc. 19.5. Panasonic Corporation 19.6. Smart Digital Signage Inc. 19.7. Out Front Digital Communications 19.8. Israk Technology 19.9. Net Display Systems PADS 19.10. WinMate Communication Inc. 19.11. Visix, Inc. 19.12. Corum Digital Corporation 19.13. Almo Professional A/V 19.14. ADFLOW Networks 19.15. Mermaid vTouch Pro 20. Assumptions & Acronyms Used 21. Research Methodology
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Digital Signage System Market
