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Global Digital Signage Market Report 2022: Growing Advertising Expenditure Worldwide Bolsters Sector

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Dublin, Feb. 21, 2023 (GLOBE NEWSWIRE) -- The "Global Digital Signage Market: Size, Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.

This report analyzes the global digital signage market in terms of product types, end-use, and geography. On the basis of product types, the market is segmented into digital signage displays, digital signage media player and projector, and digital signage software among others.

Similarly, on the basis of end-use, the market for digital signage is further classified into retail, corporate, transportation, healthcare, banking, and education among others. The geographical distribution of the global digital signage market considered in this study encompasses regional markets such as North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Growing advertising expenditure by businesses coupled with the emergence of advanced, interactive displays with NFC capabilities is the major factor driving adoption of digital signage solutions. In addition, government initiatives and expenditures dedicated towards improving public communication infrastructure are expected to further fuel market momentum during the forecast period 2016 - 2022. These factors are expected to contribute towards a double digit compounded annual growth rate (CAGR) during the forecast period 2022-2030.

  • In the base year of 2021, digital signage displays dominated the global digital signage market in terms of revenue. The trend shall prolong and the segment is presumed to retain its dominant position throughout the forecast period 2022-2030. Continual advancements in display technologies (ex LED, OLED, UHD, etc.) is expected to have positive impact on digital signage display sales. However, the segment is estimated to witness declining revenue share, supported by declining display prices and emergence of digital signage software solutions. On the other hand, digital signage software solutions are poised to witness maximum growth during the forecast period 2022-2030. The anticipated growth in the software segment can be credited to the need for regular software license updates

In the base year of 2021, commercial applications including retail, healthcare, and corporate among others dominated the global digital signage market in terms of both revenue and unit shipments. Retail is currently the largest revenue-contributing individual end-use segment in the global digital signage market.

The segment accounted for over one-third of the global market revenue in 2021. The trend shall prolong and the segment is presumed to retain its dominant position throughout the forecast period. The retail sector, which currently witnesses the highest penetration of digital signage solutions, is a key segment for manufacturers and solution providers.

As the technology matures, more numbers of retailers are expected to adopt digital signage solutions for effective customer targeting. In addition, the emergence of advanced, interactive displays with NFC capabilities is further expected to fuel adoption of digital signage solutions among retailers. Other application segments including healthcare and transportation are also expected to witness robust growth during the forecast period 2022 -2030.

North America comprising Canada and the United States is currently the largest digital signage market in terms of both revenue and shipments followed by Europe and Asia Pacific. In the base year of 2021, the region accounted for over one-third of the global market revenue.

The region is front runner in display related research and the technology has been witnessing continued penetration, especially as an advertising platform. The trend shall prolong and the region is presumed to remain the largest market throughout the forecast period 2022-2030. However, Asia Pacific is expected to witness maximum growth, outpacing North America and Europe during the same period. Evolving digital habits of consumers coupled with the government spending on public communication infrastructure is expected to spur market growth in the region.

Market Segmentation
Product Type

  • Digital Signage Display

  • Liquid Crystalline Display (LCD)

  • Light Emitting Display (LED)

  • Organic Light Emitting Display (OLED)

  • Other

  • Digital Signage Media Player and Projectors

  • Digital Signage Software

  • Others (Mounts and Accessories)

End-use

  • Retail

  • Banking

  • Education

  • Healthcare

  • Transportation

  • Corporate

  • Others (Industrial, Hospitality, etc.)

Key questions answered in this report

  • What are the key micro and macro environmental factors that are impacting the growth of Digital Signage market?

  • What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?

  • Estimated forecast and market projections up to 2030.

  • Which segment accounts for the fastest CAGR during the forecast period?

  • Which market segment holds a larger market share and why?

  • Are low and middle-income economies investing in the Digital Signage market?

  • Which is the largest regional market for Digital Signage market?

  • What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?

  • Which are the key trends driving Digital Signage market growth?

  • Who are the key competitors and what are their key strategies to enhance their market presence in the Digital Signage market worldwide?

Companies Mentioned

  • LG Display Co. Ltd.

  • AU Optronics Corporation

  • Panasonic Corporation

  • Samsung Electronics Co. Ltd.

  • Sharp Corporation

  • Sony Corporation

  • Omnivex Corporation

  • NEC Display Solutions Ltd.

  • Adflow Networks Inc.

  • Planar Systems Ltd.



For more information about this report visit https://www.researchandmarkets.com/r/lgsu5q-digital?w=12

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