The Global Digital Signage Market size is
estimated to reach US$27.8 billion by 2028, growing at a CAGR of 11.2% from 2023
to 2028. The
growing demand for digitized promotion, technological advancements in displays
and increasing incorporation of gesture detection with display processors are
fueling the growth of the Digital Signage Market. In August 2021, Panasonic unveiled
its Complete Digital Signage Solution ecosystem, which includes customized
products, software and services, allowing users to control content locally or
remotely. However, high installation and maintenance costs are hampering the
Moreover, due to the slim design and ultra-high brightness, outdoor digital signages are widely being installed in various applications especially in the transportation, sports and hospitality sectors as they are able to withstand high temperatures and harsh weather conditions. In January 2020, Panasonic delivered approximately 600 digital signage systems to the Japan National Stadium including large screen displays and audio systems for the viewers. Such developments boost the Digital Signage Market.
APAC generated approximately 27% of the global revenues in the Digital Signage industry in 2022. Growing digitalization across industries, increasing consumer disposable income, technological advancements in displays and the growing retail industry are driving the market growth in this region. In September 2020, Samsung announced a partnership with d’strict to offer groundbreaking new media art on Samsung’s Smart Signage. This partnership was aimed at broadening the opportunity of Samsung Smart Signage by allowing businesses to use the displays, thereby increasing the Digital Signage market size.
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Digital Signage Market Growth Driver:
Increasing incorporation of gesture detection:
Digital Signage vendors provide a variety of new ways for consumers to interact with advertising and entertainment companies' information. Several companies have been working on developing display processors with gesture recognition technology. Gesture recognition technology is expected to be a popular feature in Digital Signage interfaces. This technology is activated by making recognizable hand or finger gestures within a predefined area without touching a screen. Gesture recognition aids in the visualization of designs in 3D and allows users to interact with the system through hand movement. Gesture-enabled digital signage and an invisible user interface are changing the way people interact with technology. In June 2022, Boxlight Corporation, a top supplier of digital signage and interactive technology announced the release of its newest type of interactive display, the MimioPro 4. The MimioPro 4 interactive display is made to assist educators in making the most of their educational technology ecosystem. These developments would positively influence the Digital Signage industry outlook during the forecast period.
Major Players in this Market
The major players in the Digital Signage Market include Samsung Electronics, LG Displays, Panasonic Corporation, Maxhub, BrighSign LLC and Scala. In March 2022, Bubble Tea Company, Texas, United States, chose VideotelDigital’s reliable and affordable VP90 media players as their Digital Signage menu board solution.
Mr. Venkat Reddy
About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.