The global digital signage market size was US$ 3,626.8 million in 2021. The global digital signage market is forecast to grow to US$ 12,388 million by 2030 by growing at a compound annual growth rate (CAGR) of 16.1% during the forecast period from 2022 to 2030.

Digital signage displays the content on the electronic screen. Digital signage technology is more preferred over traditional small and micro-display screens with large wall-sized LEDs. Digital signage finds its applications in the areas where high-quality technology is required to engage the customers/audiences with its wider viewing angle.

Factors Influencing the Market

Electronic signage systems are a cost-effective medium to promote the product or service. Thus, the growing demand for effective advertisements will surge the growth of the global digital signage market.

The continuously declining cost of displays and improved customer experience will surge the growth of the digital signage market.

The rapidly growing education sector and the growing number of technological developments will offer ample growth opportunities for the digital signage market. Panasonic unveiled high brightness projection and real-time tracking in January 2019. Thus, such advancements are likely to benefit the digital signage market during the study period.

Increasing demand for bright and power-efficient display panels will escalate the market growth. Moreover, the growing number of smart city projects and high investments will drive the digital signage market forward.

Rapid digitalization and reducing demand for traditional billboards will bring lucrative growth opportunities during the study period. On the contrary, the presence of prominent widescreen alternatives such as projectors and screenless displays may limit the growth of the global digital signage market.

COVID-19 Impact Analysis

The sudden onset of the COVID-19 pandemic increased the demand for digitization. However, the digital signage industry witnessed various disruptions due to the shortage of raw materials caused by travel restrictions. In addition, halt on manufacturing units and declining consumer demands significantly hampered the growth of the global digital signage market.

Regional Analysis

The Asia-Pacific digital signage market is forecast to register the highest growth rate. It is due to the growing advertising industry and growing adoption of these services by government bodies in order to enhance their public offering. In addition, the growing number of smart city programs will significantly contribute to the growth of the global digital signage market.

Competitors in the Market

NEC Display Solutions Ltd
Samsung Electronics Co. Ltd
LG Display Co. Ltd
Panasonic Corporation
Sony Corporation
Sharp Corporation
Planar Systems Inc.
Hitachi Ltd
Barco NV
GOODVIEW
Cisco Systems Inc.
Other Prominent Players
Market Segmentation

The global digital signage market segmentation focuses on Type, End-User, and Region.

By Type Outlook

Hardware
LCD/LED Display
OLED Display
Media Players
Projector/Projection Screens
Other Hardware
Software
Services
By End-User Outlook

Retail
Transportation
Hospitality
Corporate
Education
Government
Other End-user
By Regional Outlook

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America