According to a market report, published by Sheer Analytics and Insights, the global digital signage market was valued at $20.3 billion in 2021 and it is expected to reach $67.3 billion at a CAGR of 11.3% between 2022 and 2032. Digital signage is also known as electronic signage, which refers to display technologies such as LED walls, projections, and LCD monitor to display videos, and web pages, among others. Digital signage is widely used in various places such as public places, stadiums, museums, educational institutes, government, and private offices, shopping stores, restaurants, and others. This can be also used to provide information to the public, share product information, promotion, and advertisement, among others. Therefore, the demand for digital signage is increasing in retail shops, healthcare sectors, and end-user industries, which is expected to boost the market growth during the forecast period. The adoption of digital signage is further growing in corporate offices and medical sectors, and these displays are equipped with high-quality technology; hence enhancing the growth opportunities across the global market. LED has led the market to a new level. With the advanced technology, LED has less energy consumption power; thus the adoption of this type of product is luring enterprises to opt for digital signage.
However, digital signage is widely used in indoor and outdoor applications. In outdoor applications, there might be bad weather conditions such as rain, snow, and hot temperature which might affect the performance of the digital signage, and also it might reduce the quality of the display features. Therefore, this can negatively impact the longevity of display qualities and performance as well. Hence, it is very essential to select cooling filters and thermal management software to take care of the digital signage heat build-ups. At present days, manufacturing companies are focusing on building up new and innovative digital signage products according to the recent requirement in the market of developing countries. Hence, it is expected to gain significant growth opportunities in the digital signage market.
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Software companies are focusing on making more investments, which would help them to enter the industries by providing various solutions that are very much compatible with all the operating systems. Moreover, several manufacturing companies are trying to build advanced display products and sell them at a low-cost price for consumers with less income. Therefore, this is expected to be one of the major drivers, which is estimated to propel the growth of the digital signage market during the forecast period. The high growth of retail and tourism industries can present important growth opportunities in the market across the Asia-Pacific region. However, there are some factors such as lack of software and hardware compatibilities in some cases, electrical interface, and connectivity, which are issues that might hamper the growth of the digital signage market.
According to the study, key players dominating the global digital signage market are Samsung Group Multinational Conglomerate Company (South Korea), Daktronics Commercial Company (U.S), LG Corporation Multinational Conglomerate Company (South Korea), Panasonic Industrial Conglomerate Company (Japan), Sony Corporation Corporate Group Company (Japan), Leyard Electronics Company (China), Stratacache Software Company (U.S), YFY Inc Company (Taiwan), Deepsky Corporation limited (Hong Kong), Omnivex Corporation (Canada), Sharp Corporation (Japan), NEC Display Solutions Limited (Japan), Microsoft Corporation Technology Company (U.S), Qisda Corporation (Taiwan), Texas Instruments Semiconductor Manufacturing Company (U.S), Infenion Semiconductor Manufacturing Company (Germany), Microship Technology Corporation (U.S), Freescale Semiconductor Holdings Limited Company (Bermuda), Honeywell Multinational Conglomerate Company (U.S), SAS Institute Software Company (U.S), AU Optronics Company (Taiwan), Renesas Electronics Semiconductor Manufacturing Company (Japan), TOSHIBA GULF FZE (UAE), 3M Multinational Conglomerate Corporation (U.S), Winmate Computer Manufacturing Company (Taiwan), among others.
The Global Digital Signage Market Has Been Segmented Into:
The Global Digital Signage Market – By Product Type:
- Video Walls
- Video Screens
- Transparent LED Screen
- Digital Poster
- Kiosks
- And Others
The Global Digital Signage Market – By Components:
- Hardware
- Software
- And Services
The Global Digital Signage Market – By Technology:
- LCD
- LED
- Projection
The Global Digital Signage Market – By End-Users:
- Retail
- Hospitality
- Entertainment
- Stadiums
- BFSI
- Healthcare
- Education
- Transpiration
- And Others
The Global Digital Signage Market – By Regions:
North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- France
- Italy
- U.K.
- Russia
- Rest of Europe Countries
Asia-Pacific
- India
- China
- Japan
- South Korea
- North Korea
- Rest of Asian Countries
LAMEA
- Brazil
- Saudi Arabia
- Rest of LAMEA
Browse The Full Report at https://www.sheeranalyticsandinsights.com/market-report-research/digital-signage-market-21
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