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

Published Date: Apr 2016  |  Report ID: GMI392  |  Authors: Ankita Bhutani, Pallavi Bhardwaj

Report Format: PDF   |   Pages: 100   |   Base Year: 2015

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Digital Signage Market size valued at USD 15 billion in 2015 and is expected to grow at a CAGR of over 5% from 2016 to 2023.

 U.S. digital signage market, by application, 2015 & 2023 (USD Million)

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Growing popularity of technically advanced promotions and advertisements majorly in the retail & hospitality sector is driving the digital signage market growth. 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 industries creates industry growth prospects.

The 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. The industry is also hindered by the inability to efficiently manage multiple display signage networks. 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.

Digital Signage Market Report Coverage
Report Coverage Details
Base Year: 2015 Market Size in 2015: 15 Billion (USD)
Historical Data for: 2012 to 2015 Forecast Period: 2016 to 2023
Forecast Period 2016 to 2023 CAGR: 5% 2023 Value Projection: 23 Billion (USD)
Pages: 100 Tables, Charts & Figures: 81
Geographies covered: U.S., Canada, Mexico, Europe, APAC, South America, MEA
Segments covered: Application, Display Technology and Region
Companies covered (14): Adflow Networks, BrightSign LLC, Cisco Systems Inc., Intel Corporation, KeyWest Technology Inc., LG Electronics, Microsoft Corporation, NEC Display Solutions Ltd., Strategic Initiative, Omnivex Corporation, Panasonic Corporation, Strategic Initiative, Polk Audio, Samsung Electronics, Strategic Solutions, Scala, Inc., Winmate Communication Inc
Growth Drivers:
  • Decreasing price trend
  • Favorable regulatory scenario in the healthcare sector
  • Improved brand awareness
Pitfalls & Challenges:
  • Standardization concerns

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 By Display Technology

Front projection displays are gaining high popularity in the digital signage market owing to increased focus on engaging high visitor traffic and high-end promotional activities in the retail industry. The huge projectors allow advertisers to gain cost benefits by less cost per inch and hardware implementation. This technology is increasingly implemented in facilities with less screen weight specifications and also provide larger display advantages over the small screens. The front projectors offer easy installation in weird structures & surfaces, off-angles, and can display odd & wide images, further providing promotional benefits. Additionally, with the help of projection mapping techniques, the projectors are able to display images on multiple surfaces, such as ice, metal, stone, etc., supporting high product demand. Advanced display, brightness, and customizable features in LCD technologies are supporting its consumption in closed environments, hospitals, and educational facilities.

 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. Digitized displays offer advertisement benefits to the hospital management as they can promote services to visitors in waiting rooms, further reducing the external advertising costs. Complex infrastructures of huge hospitals and care centers are difficult to be understood by new patients and visitors. As a result, hospitals are incorporating kiosks and digital signs to provide better wayfinding in the absence of the staff. Moreover, high focus of healthcare facilities on implementing technically advanced products for providing better patient services is driving the digital signage market expansion.

The use of digitized displays is on a rise in corporate offices owing to ease-of-use and low operational costs. Communications infrastructure and addressable audiences already exist in the corporate sector, which are leveraging signage solutions to satisfy the growing needs of companies to communicate with employees in diverse ways. One of the major drivers supporting high adoption of these networks in the corporate sector is the increasing influence of IT professionals on AV purchase decisions. The proliferation of video distribution platforms with other network-based communication tools is providing IT and communication managers several opportunities to create increasingly centralized and integrated solutions, thus boosting the industry expansion.

 By Region

MEA digital signage market was valued at over USD 500 million in 2015 and is expected to witness growth following the flourishing tourism, retail, and hospital industry verticals coupled with government initiatives for infrastructure transformation are supporting the industry demand. Rapid growth of tourism activities in the UAE and the presence of several leading global brands are majorly driving development. The premium retail sector is the largest adapter of advanced signage technology in the region. The digital display demand is increasing exponentially due to the rising demand from shopping malls and hospitals. This 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. Moreover, steady enhancement of the healthcare and education facilities in South Africa is creating a demand for the market products to offer better communication.

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. For instance, in March 2018, Acer announced the launch of ‘abSignage’, its new digital signage solutions in India, which aided the company’s entry in the country’s industry.

 Industry Background

The digital signage market is fragmented with the presence of several global and local enterprises providing technology-based solutions. The industry is undergoing continuous technical developments to cater to the increasing demand from application industries. High investments in advertising and display-based promotion activities from the retail & hospitality sector to gain high consumer interest are creating the product demand. Moreover, these technologies provide high ROI compared to the conventional paper-based and vocal promotions, further leading to reduced employee costs. These benefits along with high awareness about front projections and wide digitized displays in the educational and transportation sectors drive industry growth.

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