Digital Signage Market worth USD 9,455.1 million by 2027

The Market Statsville Group (MSG) publishes the new report on the "Digital Signage Market by Type (Hardware, LCD/LED Display, OLED Display, Media Players, Projector/Projection Screens and Other Hardware), Software, and Services), by End-User (Retail, Transportation, Hospitality, Corporate, Education, Government, and Other End-user), by Region – Global Share and Forecast to 2027". The digital signage market is anticipated to register a CAGR of 16.6% worldwide from 2021 to 2027 and grow from USD 3,226.8 million in 2020 to USD 9455.1 million in 2027. The advancement of controls has enabled billboard owners to reduce energy consumption further. Therefore, improvements in technology have driven the downward trend of energy consumption, thereby reducing the cost of infrastructure. Furthermore, with the developments in Content Management Systems, brands now have the ability to monitor, customize, schedule, and deploy content across multiple locations via an array of digital signage displays. With the significant shift from traditional signage to digital signage, there is tremendous potential for market growth over the forecast period. Besides the technological advancements regarding the displays and the chips used in signage, other trends, such as the growth of cloud and Big Data, the advent of video walls, Augmented Reality (AR), and Virtual Reality (VR), are driving the industry profitability.

Global Digital Signage Market Segmentation

The overall digital signage market has been segmented into the end-user, type, and region.

By End-User Outlook (Sales, USD Million, 2017-2027)

• Retail
• Transportation
• Hospitality
• Corporate
• Education
• Government
• Other End-user

By Type Outlook (Sales, USD Million, 2017-2027)

• Hardware
  • LCD/LED Display
  • OLED Display
  • Media Players
  • Projector/Projection Screens
  • Other Hardware
• Software
• Services

By Region Outlook (Sales, USD Million, 2017-2027)

• North America (US, Canada, Mexico)
• South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
• Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
• The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)

Transportation, by the end user, is estimated to hold the largest market share during the forecast period

By end-user, digital signage has been segmented as retail, transportation, hospitality, corporate, education, government, and other end-users. Transportation segments accounted for the largest market revenue share of 24.1% in 2020. Digital signage is the most common digital technology used across transportation by critical centers of the transportation industry, such as bus terminals, airports, etc.

The increasing demand for digital content and information, which are relevant to travelers, has led to interactive ads through different modes of advertisements, such as Kiosks, billboards, and Signboards, at the platform that accounts for a significant share of growth in transportation media revenues. Owing to their bright, dynamic images that grab and hold attention even in settings with abundant ambient light, digital displays are an ideal fit for the airport terminal. This system includes onboard, medium, and large format displays located in the busiest areas across different terminals. Digital advertising has a transformative effect on transport operators, as most public transport authorities are adopting the out-of-home advertising transit network that is primarily used in illuminating the dark tunnels and sterile stations through the help of digital screens and personalized advertising. These are targeted to the captive audience of travelers, who spend hours staring at the station, waiting for their transport.

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North America accounts for the largest market share in the digital signage market.

Based on region, the global digital signage market has been segmented as North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. North America has the largest market revenue share of 46.9% in the global digital signage market and was anticipated to maintain its dominance throughout the forecast period in 2020. The advancements in display technology will drive the market.

A combination of LED-backlit panels results in substantial energy savings. Self-service kiosks are also increasing adoptions among the regional end-user industries. Order automation with digital signage is revolutionizing the quick-service sector, with digital kiosks and mobile-ordering apps being introduced at major chains, like Starbucks and McDonald's, in the region. This is further expanding the regional market scope. For instance, Panera Bread relaunched its customer experience programs around digital and mobile marketing by interconnecting mobile apps with in-store personalized kiosks and offering services, like tableside mobile ordering, among others.

This research report includes a study on the development and marketing strategies and a study on the product portfolios and winning strategies of the leading companies operating in the digital signage market. It also consists of the profiles of leading companies such as 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, and Cisco Systems Inc. These market players have focused on acquisitions and expansion to gain a larger market share in the digital signage market.

Browse complete report: https://www.marketstatsville.com/digital-signage-market

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