Delray Beach, FL, Oct. 03, 2024 (GLOBE NEWSWIRE) -- The global digital signage market is projected to grow from USD 20.1 Billion in 2024 to USD 27.3 billion by 2029, registering a CAGR of 6.3% during the forecast period.
The growth of the market can be attributed to the increasing adoption of digital signage in commercial applications such as retail & hospitality, surging demand for high resolution displays such as 4K & 8K displays, rising infrastructural developments in developing countries, and ongoing technological advancements in display sector.
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Major Digital Signage Companies Included:
- Samsung Electronics Co., Ltd. (South Korea),
- LG Electronics (South Korea),
- Sharp NEC Display Solutions (Japan),
- LEYARD (China),
- Sony Group Corporation (Japan),
- Barco (Belgium),
- Panasonic Corporation (Japan),
- AUO Corporation (Taiwan),
- Shanghai Xianshi Electronic Technology Co., Ltd (China) and
- BrightSign LLC (US)
Regional Analysis of Digital Signage Market
In 2023, North America is estimated to hold the highest market share of the global digital signage market. The presence of numerous digital signage software suppliers, along with increased usage of advanced technologies such as Internet of Things (loT), particularly in the retail and hospitality sectors, are some of the major factors driving market expansion in the region. Furthermore, the rapid commercialization of 5G technology and fiber optic networks has resulted in increased use of digital signs in retail, institutions, the public sector, government, and other rapidly digitalizing industries. These advancements are projected to fuel the regional digital signage market. Furthermore, Canada, with its reasonably stable economy, is projected to experience a substantial increase in the adoption of digital signage in the near future as retail spaces expand and traditional retail stores shift to smart stores.
Opportunities and Challenges in the Digital Signage Market
Opportunity: Increasing adoption in industrial sector
Digital signages are used in the industrial sector to improve communication among employees and to increase safety and production. Signages are installed in manufacturing facilities to show production metrics, real-time performance data, and safety information. Digital signage also informs employees about their production goals, potential hazards, and quality standards. Digital signage also increases operational efficiency, lowers errors, and streamlines logistics procedures and also helps with warehouse management by monitoring inventory levels, order status, and picking instructions Furthermore, digital signage warns of emergencies, visually represents complex processes, workflow diagrams, or assembly line instructions, and displays real-time quality control data such as defect rates, rejects, and results of inspection.
Challenge: Security concerns related to digital signage
Digital signage systems are subject to security threats such as hacking and malware attacks. Users of digital signage are susceptible to attacks involving phishing or social engineering tactics because they use weak passwords on networks or connect to unsecured networks, allowing hackers to obtain control to the network and the information displayed on screens. In addition, malware attacks on digital signs can propagate via email attachments, USB drivers, and other ways. If illegal access is granted to digital signage networks, unauthorized content may be presented on screen. The growing number of security issues is anticipated to have a negative impact on the growth of the digital signage market.
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Digital Signage Market Size:
The digital signage market is experiencing significant growth, with a current value of approximately USD 20.1 billion in 2024. This growth is fueled by increasing demand for dynamic and engaging displays across sectors like retail, education, healthcare, transportation, and hospitality. The market is projected to reach over USD 27.3 billion by 2029, expanding at a compound annual growth rate (CAGR) of around 6.3%. Key factors driving this growth include advancements in display technologies such as 4K and 8K screens, rising adoption of interactive and cloud-based digital signage solutions, and the growing need for enhanced customer engagement and real-time content updates.
How big is the digital signage industry?
The global digital signage industry is rapidly expanding, driven by the increasing demand for dynamic and interactive content across various sectors like retail, hospitality, healthcare, and transportation. As of 2024, the digital signage market is valued at around USD 20.1 billion, with expectations to reach over USD 27.3 billion by 2029, growing at a compound annual growth rate (CAGR) of approximately 6.3%. Factors such as the adoption of advanced display technologies, rising consumer engagement needs, and the growing use of digital advertising are key drivers contributing to the industry's robust growth.
What is the future of the signage industry?
The future of the signage industry lies in the increasing integration of advanced technologies such as artificial intelligence, Internet of Things (IoT), and interactive touchscreens, transforming traditional displays into smart, data-driven solutions. Personalized content delivery, augmented reality (AR) experiences, and eco-friendly digital signage are trends that are expected to redefine the industry. Moreover, the shift towards cloud-based digital signage systems is enabling greater flexibility and scalability. As businesses seek to enhance customer engagement and create immersive experiences, the industry is set to witness significant technological innovation and further growth in the coming years.
Digital Signage Market Leaders:
The digital signage market is led by several key players who are driving innovation and shaping the industry’s future. Companies like Samsung Electronics, LG Electronics, NEC Corporation, and Sony Corporation are at the forefront, offering cutting-edge display technologies such as ultra-high-definition screens and interactive displays. Other significant market leaders include Cisco Systems, Panasonic Corporation, and Sharp Corporation, which provide integrated digital signage solutions across industries. These leaders are focused on developing cloud-based and AI-powered platforms that enhance user engagement and streamline content management.
