Global Digital Signage Market to Reach US$ 45.5 Billion by 2032, Stimulated by Increasing Digitalization

October 03, 2023 | Technology & Media

According to the latest report by IMARC Group, titled “Digital Signage Market Report by Type (Video Walls, Video Screen, Transparent LED Screen, Digital Poster, Kiosks, and Others), Component (Hardware, Software, Service), Technology (LCD/LED, Projection, and Others), Application (Retail, Hospitality, Entertainment, Stadiums and Playgrounds, Corporate, Banking, Healthcare, Education, Transport, and Others), Location (Indoor, Outdoor), Size (Below 32 Inches, 32 to 52 Inches, More than 52 Inches), and Region 2024-2032,” the global digital signage market size reached US$ 26.9 Billion in 2023. Digital Signage refers to a dynamic display technology that employs digital screens to disseminate information, advertisements, or messages to a targeted audience. These digital displays come in various forms, from LCD and LED screens to projectors, all driven by computer systems. The versatility of Digital Signage is its key strength, enabling businesses and organizations to convey their messages effectively in real-time. It is increasingly adopted in corporate settings, where it streamlines internal communication through employee bulletins, news updates, and event announcements. In transportation hubs, such as airports and train stations, digital signage provides vital information on schedules and directions.

Global Digital Signage Market Trends:

The growing embrace of digital-out-of-home (DOOH) advertising among businesses, and the ongoing technological progress in display technology are driving the global market. Along with this, the rising desire for customized and interactive customer interaction is contributing to the market. The proliferation of high-definition displays, coupled with decreasing hardware costs, is also supporting the global market. This affordability has led to widespread adoption across industries such as retail, hospitality, healthcare, and transportation. Moreover, the rise of the internet and cloud-based content management systems has revolutionized the market. Remote content management allows for real-time updates and customization of messages, making it a dynamic and flexible medium for businesses to engage their audience effectively. Furthermore, the ability of digital signage to capture and analyze data is strengthening its growth. Through sensors and cameras, businesses can gather valuable insights into consumer behavior and tailor content accordingly. This data-driven approach enhances the overall customer experience and helps businesses make informed decisions. Looking forward, the market value is projected to reach US$ 45.5 Billion by 2032, expanding at a CAGR of 5.8% during 2024-2032.

Market Summary:

  • Based on the type, the market has been segmented into video walls, video screen, transparent LED screen, digital poster, kiosks, and others. Currently, video walls represent the largest market segment.
  • On the basis of the component, the market has been divided into hardware, software, and service. Among these, hardware exhibits a clear dominance in the market.
  • Based on the technology, the market has been bifurcated into LCD/LED, projection, and others. Among these, LCD/LED accounts for the largest market share.
  • On the basis of the application, the market has been divided into retail, hospitality, entertainment, stadiums and playgrounds, corporate, banking, healthcare, education, transport, and others. Among these, retail exhibits a clear dominance in the market.
  • Based on the location, the market has been segmented into indoor and outdoor. Currently, indoor represents the largest market segment.
  • On the basis of the size, the market has been divided into below 32 inches, 32 to 52 inches, and more than 52 inches. Among these, below 32 inches exhibit a clear dominance in the market.
  • Region-wise, the market has been segmented into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Among these, North America holds the leading position in the market.
  • The competitive landscape of the market has also been examined, with some of the key players being BARCO, Leyard Optoelectronic (Planar), LG Electronics, Panasonic, Samsung Electronics, Shanghai Goodview Electronics, Sharp (Foxconn Group), and Sony.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Type, Component, Technology, Application, Location, Size, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered BARCO, Leyard Optoelectronic (Planar), LG Electronics, Panasonic, Samsung Electronics, Shanghai Goodview Electronics, Sharp (Foxconn Group) and Sony
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Global Digital Signage Market to Reach US$ 45.5 Billion by 2032, Stimulated by Increasing Digitalization
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