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Smart Signage Market Analysis

  • Report ID: GMI9666
  • Published Date: May 2024
  • Report Format: PDF

Smart Signage Market Analysis

Based on technology, the market is segmented into OLED technology, LCD technology, LED technology, and others. The LED technology segment is the fastest growing and is anticipated to expand at a CAGR of over 14% between 2024 and 2032.

  • The evolution in LED technology and advancements in miniaturization and manufacturing have made it possible to produce LED-based displays that exceed the crispness and color reproduction of flat-panel commercial displays and consumer televisions. Smart signage has become one of the most sought-after media platforms for personalized information, content, education, sports, and art. These digital signage applications not only change the look and feel of the environment but also captivate and leave a lasting impression on viewers.
  • For instance, in September 2023, SAMSUNG launched the two models of “The Wall for Virtual Production” in Europe, expanding Samsung’s leadership in the virtual production XR studio fields. The Wall for Virtual Production is a leader in this type of application and can amplify projects by adding lifelike levels of detail, texture, volume, and shades to virtual content creation environments. The new IVC model options, P1.68 and P2.1, include a curvature range that can stretch up to 5,800R, creating a more realistic field of view.

Smart Signage Market Share, By End-User, 2023

Based on end user, the smart signage market is divided into retail, education, healthcare, corporate, stadiums, government, and others. The retail segment dominated the market with a share of over 30% in 2023.

  • In a rapidly growing retail landscape, the success of a new product launch can significantly hinge on the innovative use of retail digital signage. Digital screens in retail stores can serve multiple purposes. They are not limited to showcasing product information alone. Retailers use the screens for a variety of functions, creating a versatile & interactive shopping experience. One of the significant advantages of digital signage is the ability to target specific customer demographics and tailor content accordingly. Personalized advertising can significantly impact buying decisions.

China Smart Signage Market Size, 2021-2032, (USD Million)

The Asia Pacific smart signage market is experiencing remarkable growth and transformation, driven by a multitude of factors that highlight its relevance and significance across various industries and sectors. With a projected CAGR exceeding 14.5% from 2024 to 2032, this expansion highlights the increasing emphasis on digitalization, customer engagement, and experiential marketing strategies.

Countries across Asia Pacific, including China, Japan, and South Korea, are leading the expansion of the smart signage market. They are leveraging their technological prowess and robust infrastructure to drive innovations and adoption. Vendors offering signage solutions are continuously investing and developing solutions, which are sustainable in nature. The nations are witnessing significant investments in smart cities, retail digitization, and digital out-of-home advertising, thereby creating a conducive environment for the proliferation of smart signage solutions.

Authors: Suraj Gujar , Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

The market size of smart signage reached USD 1.83 billion in 2023 and is set to witness 12.5% CAGR from 2024 to 2032, led by the growing need for digital advertisements and outdoor displays.

The LED technology segment is projected to grow at over 14% CAGR between 2024 and 2032, as they change the look and feel of the environment but also captivate and leave a lasting impression on viewers.

The retail segment in the smart signage industry recorded over 30% share in 2023, due to their use for a variety of functions and to provide a versatile & interactive shopping experience.

Asia Pacific market is anticipated to showcase more than 14.5% CAGR from 2024 to 2032, owing to the increasing emphasis on digitalization, customer engagement, and experiential marketing strategies.

Smart Signage Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 10
  • Tables & Figures: 254
  • Countries covered: 21
  • Pages: 220
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