The global digital signage market size was US$ 19.5 billion in 2020. The global digital signage market is forecast to reach the value of US$ 40.1 billion by 2030 by growing at a compound annual growth rate (CAGR) of 7.6% during the forecast period from 2021-2030. Digital signage is an electronic digital display that includes prominent technologies, such as OLED, LCD, and LED. These systems display advertisements, information through signs and symbols. 

Factors Influencing

• Increasing demand for radiant and efficient power panels would emerge as a favorable opportunity for the market players. Digital signage offers better quality and image resolution as compared to traditional display technologies. Moreover, the low power consumption property of digital signage would benefit the global digital signage market in the future. 
• Rapidly growing digitalization acts as a favorable opportunity for market players. Moreover, increasing programmatic advertising and integration of the Internet of Things (IoT) are forecast to propel the growth of the global digital signage market.
• Rising demand for 4K and Ultra-HD Devices may propel market growth in the coming years. Market players have been introducing various efficient advancements in display technologies. Moreover, the growing popularity of 4K or Ultra High Definition TVs would fuel the demand for large displays. Samsung unveiled new QLED 8 K SMART signage, the first-ever 8 K display that can be operated 24/7 operation.
• The demand for display technologies, including microLED and Quantum Dots, is forecast to increase significantly. These emerging technologies and the integration of display technology may propel market growth in the coming years.

COVID-19 Impact Analysis

The COVID-19 pandemic restricted manufacturing facilities to curb the spread of the virus. Moreover, government regulations leading to social distancing, import-export ban, travel restrictions all hampered the growth of the market. The government-imposed lockdown halted the operations in the digital signage market. Moreover, product launches and R&D activities were postponed due to the pandemic. It created various challenges for the market players to survive in the market. However, healthcare has been the only sector driving the demand for digital signage technology. As the economies begin recovering, the demand for temperature-sensitive digital signage kiosks would increase rapidly. Temperature-sensitive digital signage kiosks provide large screens capable of displaying dynamic digital information. The adoption of these technologies is forecast to increase in the healthcare sector to display content, such as waiting for time, rules, and other instructions.

Geographic Analysis

North America held the largest share in the global digital signage market in 2020, owing to the presence of a large number of manufacturers and increasing demand for the technology in the retail industry. Moreover, rising R&D investment, favorable government initiatives may surge the adoption of digital signage in the future. 

The Asia Pacific region is forecast to emerge as the fastest-growing segment in the digital signage market. The technology is widely adopted in India and China mainly in hospitals, corporate offices, and hotels. 

Market Segmentation

By End-User

• Retail
• Education
• Healthcare
• Corporate
• Stadium
• Government
• Others

By Location

• Indoor
• Conference room
• Office entrance
• Classroom
• Park
• Others
• Outdoor

By Offering

• Hardware
• Software
• Service

By Product

• Single Screen Display
• Videowall
• Kiosk

By Region

• 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

Key Market Players

• iSEMC (HHSD Technology)
• Koninklijke Philips N.V.
• LG Electronics
• NEC Corporation
• Panasonic Corporation
• Planar Systems
• Sony Corporation
• SAMSUNG ELECTRONICS CO. LTD.
• ViewSonic Corporation
• Volanti Displays
• Other prominent players