WESTFORD, Mass., July 24,
2024 /PRNewswire/ -- According to SkyQuest, the
global Digital Signage Market size was valued at USD 15.98 Billion in 2022 and is poised to grow
from USD 17.77 Billion in 2023 to
USD 41.55 Billion by 2031, growing at
a CAGR of 11.2% in the forecast period (2024-2031).
Digital signage is extensively used in public spaces like
stores, transports, museums, and restaurants. These displays have
the potential to show videos, text, weather data, and restaurant
menus with the help of technologies like LED, LCD, and projections.
These solutions are centrally managed and can be individually
addressed to display information, entertainment, advertisement, and
info about products. This is one of the primary reason due to which
companies can utilize content creation and distribution with the
help of digital signage to reach more audience. In the media
players and screens there are frequent compatibility and
interoperability issues that can be removed through digital
signage. In many developing countries digital signage is used in
public infrastructure, transport networks, and the construction of
commercial structures. In public transportation sector this
innovative technology is used to inform customers about their
current location and advertise various products and services.
Display technologies like microLED displays, OLED displays, and
electronic displays are becoming more popular in various sectors
that is encouraging organizations to build digital display
products.
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overview:
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Digital Signage Market Overview:
Report
Coverage
|
Details
|
Market Revenue in
2023
|
$ 17.77
Billion
|
Estimated Value by
2031
|
$ 41.55
Billion
|
Growth
Rate
|
Poised to grow at a
CAGR of 11.2%
|
Forecast
Period
|
2024–2031
|
Forecast
Units
|
Value (USD
Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Offering, Display Size,
Product Type, Installation Location, Application, Enterprise Size,
and Region
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Latin America, and Middle East and Africa.
|
Report
Highlights
|
Increasing use of
electronic large screen displays in various commercial
sectors
|
Key Market
Opportunities
|
Improvement of
infrastructure in retail sector to enhance shopping
experience
|
Key Market
Drivers
|
Rising demand for 4K
displays with embedded software and media player
|
Segments covered in Digital Signage Market are as
follows:
- Offering
-
- Hardware (Display {Technology - [LCD, LED, OLED, Projection],
Resolution - [8K, 4K, Full High Definition (FHD), High Definition
(HD), Lower than HD], brightness -[0–500 nits, 501–1000 nits,
1001–2000 nits, 2001–3000 nits, More than 3000 nits}, Media
Players, Projectors, Others), Software (Edge Server Software,
Content Management System, Others), Services (Installation
Services, Maintenance & Support Services, Consulting &
Other Services), Digital Poster, Kiosks, Others.
- Display Size
-
- Less than 32 Inches, Between 32 and 52 Inches, and More than 52
Inches
- Product Type
-
- Video Walls, Standalone Displays (Kiosks {Interactive kiosks,
Automated teller machines (ATMs), Self-service kiosks, Vending
kiosks}), Menu Boards {Interactive menu boards, Non-interactive
menu boards}, Billboards
- Installation Location
-
- Application
-
- Commercial (Retail, Corporate Communications, Healthcare,
Hospitality & Restaurants, Government), Infrastructural
(Transportation & Public Places, Sports & Entertainment),
Institutional (Banking, Financial Services and Insurance (BFSI),
Education), Industrial, Non-Broadcast
- Enterprise Size
-
- Small Office/Home Office (SOHO), Small & Medium-sized
Enterprises (SMEs), Large Enterprises (LEs)
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report:
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High Adoption of Gestural Recognition for Better Interaction
to Increase Market Growth
Customers can directly interact with the information that has
been offered by the media and entertainment organizations in
various processes due to digital signage vendors. Many
manufacturers are exploring the advancement of display processors
integrated with embedded gesture recognition technique. One of the
most popular approaches used in digital signage interfaces is
gesture recognizing technology, boosting the growth of the
market.
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(TOC):
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Widespread Use of Electronic Large Screen Displays to Manage
Content Propelling Digital Signage Market Growth
The market for digital signage is growing rapidly because of the
extensive use of electronic large screen displays in various
commercial industries like finance, retail, transportation, and
hospitality. In recent times, digital signages are also utilized in
automated teller machines and e-banking services in the financial
industry. The technology has helped the sector to digitalize
product promotion, display motion messages, and remotely update and
manage contents. Technological developments in implementation of
biometric technology combined with digital signage devices are also
influencing positive growth in the market. The market is also
fueled by enhancement in LCD/LED technologies and an increasing
investment in advertising and marketing.
Increasing Development of Infrastructure in Retail Stores to
Improve Shopping Experience Driving Market Growth
Today retailers are using digital signage to improve shopping
experience, resulting in the augmentation of sales. They have
started making immense investments in the infrastructure of retail
stores to gain advantages from digitalization. With the increasing
use of digital signage retailers can also offer theme-based
digitally improved experience stores, personalized offering, and
other innovative services. Nowadays, the digital signage solutions
act as the customer touchpoints by offering improved control and
information in the banking and financial industry. These
improvements will augment the demand for digital signage solutions
and improve its market value.
Related Report:
Augmented Reality (AR),Virtual Reality (VR), Mixed Reality (MR)
Market
Commercial Display Market
Digital Out-of-Home Advertising Market
Digital Signage Software Market
AR and VR Smart Glasses Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and
Accelerator of Technology and assets. We provide access to
technologies, markets and finance across sectors viz. Life
Sciences, CleanTech, AgriTech, NanoTech and Information &
Communication Technology.
We work closely with innovators, inventors, innovation seekers,
entrepreneurs, companies and investors alike in leveraging external
sources of R&D. Moreover, we help them in optimizing the
economic potential of their intellectual assets. Our experiences
with innovation management and commercialization has expanded our
reach across North America,
Europe, ASEAN and Asia Pacific.
Contact:
Mr. Jagraj
Singh
SkyQuest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
Visit Our Website: https://www.skyquestt.com/
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SOURCE SkyQuest Technology