Digital Signage Market Size

Digital Signage Market Size

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

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.