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Digital Signage Market Size By Application (Banking, Corporate, Education, Healthcare, Retail, Transportation), By Display Technology (LCD, LED, Front Projection), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 - 2023

  • Report ID: GMI392
  • Base Year: 2015
  • Report Format: PDF

Industry Trends

Digital Signage Market size surpassed USD 15 billion in 2015 and is poised to grow at over 5% CAGR between 2016 and 2023. Growing popularity of technically advanced promotions and advertisements majorly in the retail & hospitality sector is driving the market demand. 
 

The introduction of interactive displays for allowing customer interaction gain more public attraction is creating high demand for digitalized signages. The implementation of AI in new products offers personalization, easy & more data collection, and planning benefits. AI-based signages allow advertisers to enhance the consumer & visitor experience by gaining personalized information, feedback, and develop plans for provision of better services.
 

With the incorporation of video walls and interactive promotional boards, companies gain high level of communication with customers and employee training advantages. Moreover, increasing focus on gaining operational efficiency, corporate communications, and targeted messaging in the application sectors creates growth prospects for the digital signage industry.
 

Digital Signage Market

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The market is hindered by the fact that new signage platforms face several software-related issues during deployment in the commercial, retail, and banking sectors. These displays face connectivity problems with media players due to the presence of several offline & online players in local networks. These issues can be solved by remotely connecting to the online network and troubleshooting the offline networks, further increasing security.
 

Furthermore, inability to efficiently manage multiple display signage networks will also hamper the industry demand. Each screen and display deployed in retail stores, campuses, and restaurants have separate tools, software systems, and parameters, which pose a challenge for content management and increase the time burden.
 

Market by Display Technology

LCD digital signage market size is predicted to exceed USD 5 billion by 2023 propelled by increasing adoption of digital-out-of-home application (DOOH) across the globe. Moreover, rising penetration of ultra-high definition (UHD) technology in applications such as retail and transportation is expected to boost the market growth.
 

Front projection displays are gaining high popularity in the industry owing to increased focus on engaging high visitor traffic and high-end promotional activities in the retail sector. The huge projectors allow advertisers to gain cost benefits by less cost per inch and hardware implementation. The front projectors offer easy installation in weird structures & surfaces, off-angles, and can display odd & wide images, further providing promotional benefits.
 

Market by Application

Healthcare facilities are increasingly implementing digitized displays and promotional signages to provide better employee & customer communication, promotion of hospital services, and enhancement of waiting areas. The displays are used in hospitals and healthcare institutions for improving patient, visitor, and staff experience in the form of interactive kiosks, wayfinding signs & boards, and screens to show the estimated waiting time.
 

The retail sector in the market is expected to reach USD 10 billion valuation by 2023 as implementing digital signage technology will save printing cost and improve operational efficiency. Several retail industry players are adopting the technology to create brand awareness and enhanced experience. Moreover, the technology improves customer engagement and drives more footfall in the retail stores.
 

Market by Region

Asia Pacific digital signage market size is projected to observe growth at over 6% during the forecast period. This growth can be credited to decreasing cost of display panels and rising funding on infrastructure development across the region. In addition, the demand for enhanced visual experience and educational market development may surge the adoption of the technology.
 

MEA market crossed USD 500 million revenue in 2015 and is estimated to register substantial gains through 2023 due to flourishing tourism, retail, and hospital industry verticals coupled with government initiatives for infrastructure transformation. Moreover, the digital signage technology is highly implemented for advertising and promotional purposes by retailers in the UAE and Saudi Arabia to educate the middle-class sector and gain more customers.
 

Competitive Market Share

The key companies operating in the market are LG Electronics, Cisco Systems, NEC Display Solutions, Microsoft Corporation, Acer, Panasonic Corporation, Samsung Electronics, Intel Corporation, and Adflow Networks. These companies are focusing on developing new and advanced display platforms with AI ability, interactive features, and better analytics features to gain a competitive edge.
 

Global players develop partnerships and collaborations with new entrants and technology providers to offer highly advanced signage networks. The manufacturers are launching their new products in new regions to cover the untapped regional industries.
 

The market research report on digital signage includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2012 to 2023 for the following segments:
 

By Display Technology

  • LCD
  • LED
  • Front Projection

By Application

  • Banking
  • Corporate
  • Education
  • Healthcare
  • Retail
  • Transportation

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa
     
Authors: Preeti Wadhwani, Prasenjit Saha

Frequently Asked Questions (FAQ) :

Global digital signage market captured USD 15 billion revenue in 2015 and is expected to cross USD 23 billion valuation by 2023.

The industry share of digital signage is poised to grow at over 5% CAGR till 2023.

According to this research report by GMI, the Asia Pacific market size is projected to observe growth at over 6% during the forecast period.

The retail sector in the market is expected to reach USD 10 billion valuation by 2023 as implementing digital signage technology will save printing cost and improve operational efficiency.

The key companies operating in the market are LG Electronics, Cisco Systems, NEC Display Solutions, Microsoft Corporation, Acer, Panasonic Corporation, Samsung Electronics, Intel Corporation, and Adflow Networks.

LCD display technology segment in the industry is predicted to exceed USD 5 billion by 2023 propelled by increasing adoption of digital-out-of-home application (DOOH) across the globe.

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Premium Report Details

  • Published Date: Apr 2016
  • Companies covered: 14
  • Tables & Figures: 81
  • Countries covered: 7
  • Pages: 100

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