Digital Signage Market Forecast till 2027

Description

Global Digital Signage Market Analysis

Market Overview

The global market for digital signage is likely to increase at a substantial rate over the forecast period of 2022-2027. According to the industry research, digital signage has benefits include reducing paper waste, capturing audiences’ attention, dynamic content control, getting beyond physical limitations, and cost effectiveness, targeted content, and interactive digital signage.

The market is being stimulated by these various advantages. According to some, the market for digital signage is expanding because of the rising demand for this technology in the public and commercial sectors, along with affordability and return on investment.

The growing need for in-store digital signage infrastructure for enhancing brand value and the advancement of digital technology are major factors in the enhancement of the digital signage industry. However, the key barriers to the growth of the digital signage business are a high starting prices, lack of technical expertise, and a lack of standardisation.

Customers can interact with the data provided by marketing and entertainment companies in new ways thanks to vendors of digital signage. Producers are creating display processors that combine gesture recognition technologies. It is anticipated that gesture recognition technology will be one of the most widely used technologies in digital signage interfaces.

The key industries using gesture recognition with digital signage are the automotive and transportation sectors. As a result, during the forecast period, the increasing adoption of gesture recognition in digital signage is anticipated to fuel market expansion.

Segment Overview

The component type, product type, technology, application, vertical and regional segments have been used to segregate the global market for digital signage market. The global market has been divided into signboards, billboards, kiosks and menu boards based on the product type of digital signage. Signboards segment is likely to dominate the market over the forecast period.

The component type segment has been divided into hardware, software, and services. By technology, the global market has been divided into LCD,OLED, Front Projection, and LED. Based on application, the global market is bifurcated into outdoor and indoor. The vertical segment comprises healthcare, banking, entertainment, transportation, retail, education, and government.

Regional Analysis

The Digital Signage market is divided across five regions, namely Americas, Asia, Europe, and Africa. In 2021, North America garnered major market share with investments by key players such as Sony, Intel, Panasonic, and Samsung expected to drive the market further. Asia-Pacific is the fastest-growing market as forecasted during the forecast period.

Sharp NEC Display Solutions has announced the introduction of the MultiSync Message Series in March 2021. This series includes displays from the ME, M, and MA Series and offers customers an ultra-high definition and commercially-optimized display lineup for Digital Signage applications. It has also been designed with modular expandability to provide customers with the solutions they need to create an impact.

Major Players

NEC Corporation, Samsung Electronics, LG Electronics, HP Inc, and Sharp Corporation are among the leading companies operating in the global digital signage market.

COVID 19 Impacts

The COVID-19 outbreak has had a major effect on the digital signage industry, with the suspension of production in major manufacturing hubs leading to a significant reduction in output. People are increasingly isolated due to the stricter regulations on social gatherings and travel.

Furthermore, the Digital Signage sector has been adversely affected by the supply chain delays and market instability caused by the outbreak. The uncertainty surrounding the length of the lockdown and supply chain interruptions has made it difficult for industry participants to estimate the timeline for the industry’s resurgence..

 

TABLE OF CONTENTS

1 EXECUTIVE SUMMARY 17

1.1 MARKET ATTRACTIVENESS ANALYSIS 18

2 MARKET INTRODUCTION 19

2.1 DEFINITION 19

2.2 SCOPE OF THE STUDY 19

2.3 RESEARCH OBJECTIVE 19

2.4 MARKET STRUCTURE 20

3 RESEARCH METHODOLOGY 21

3.1 RESEARCH PROCESS 21

3.2 PRIMARY RESEARCH 22

3.3 SECONDARY RESEARCH 23

3.4 MARKET SIZE ESTIMATION 23

3.5 TOP-DOWN AND BOTTOM-UP APPROACH 24

3.6 FORECASTING TECHNIQUES 26

3.7 LIST OF ASSUMPTIONS 27

4 MARKET DYNAMICS 28

4.1 OVERVIEW 28

4.2 DRIVERS 29

4.2.1 INCREASING INCORPORATION OF GESTURE RECOGNITION 29

4.2.2 FOCUS ON REPLACING PAPER WITH DIGITAL SIGNAGE DISPLAYS 29

4.3 RESTRAINT 30

4.3.1 HIGH COSTS INVOLVED IN DIGITAL SIGNAGE SYSTEMS 30

4.4 OPPORTUNITY 31

4.4.1 CUSTOMIZED DIGITAL SIGNAGE DISPLAY DEVICES 31

4.4.2 ADOPTION OF DIGITAL SIGNAGE TECHNOLOGY IN SMES 31

4.5 IMPACT OF COVID-19 32

4.5.1 IMPACT ON DISPLAY SUPPLY 32

4.5.2 USE OF DIGITAL SIGNAGE AS REAL-TIME CUSTOMER SERVICE AMIDST THE PANDEMIC 32

4.5.3 DIGITAL SIGNAGE IN THE RETAIL INDUSTRY POST-COVID 33

4.5.4 IMPACT ON THE OVERALL DIGITAL SIGNAGE TECHNOLOGY 33

5 MARKET FACTOR ANALYSIS 35

5.1 VALUE CHAIN ANALYSIS 35

5.1.1 COMPONENT MANUFACTURERS 35

5.1.2 ASSEMBLERS/INTEGRATORS 36

5.1.3 SALES & DISTRIBUTION 36

5.1.4 END USER 36

5.2 PORTERS FIVE FORCES 37

5.2.1 THREAT OF NEW ENTRANTS 37

5.2.2 BARGAINING POWER OF SUPPLIERS 37

5.2.3 THREAT OF SUBSTITUTES 38

5.2.4 BARGAINING POWER OF BUYERS 38

5.2.5 INTENSITY OF RIVALRY 38

6 GLOBAL DIGITAL SIGNAGE MARKET, BY PRODUCT TYPE 39

6.1 OVERVIEW 39

6.2 MARKET ESTIMATES AND FORECAST, BY PRODUCT TYPE, 2018–2027 39

6.3 KIOSKS 40

6.4 BILLBOARDS 40

6.5 SIGNBOARDS 40

6.6 MENU BOARDS 40

7 GLOBAL DIGITAL SIGNAGE MARKET, BY COMPONENT TYPE 41

7.1 OVERVIEW 41

7.2 MARKET ESTIMATES AND FORECAST, BY COMPONENT TYPE, 2018–2027 41

7.3 HARDWARE 42

7.4 SOFTWARE 42

7.5 SERVICES 42

8 GLOBAL DIGITAL SIGNAGE MARKET, BY TECHNOLOGY 43

8.1 OVERVIEW 43

8.2 MARKET ESTIMATES AND FORECAST, BY TECHNOLOGY, 2018–2027 43

8.3 LCD 44

8.4 LED 44

8.5 OLED 44

8.6 FRONT PROJECTION 44

9 GLOBAL DIGITAL SIGNAGE MARKET, BY APPLICATION 45

9.1 OVERVIEW 45

9.2 MARKET ESTIMATES AND FORECAST, BY APPLICATION, 2018–2027 45

9.3 OUTDOOR 46

9.4 INDOOR 46

10 GLOBAL DIGITAL SIGNAGE MARKET, BY VERTICAL 47

10.1 OVERVIEW 47

10.2 MARKET ESTIMATES AND FORECAST, BY VERTICAL, 2018–2027 47

10.3 ENTERTAINMENT 48

10.4 TRANSPORTATION 48

10.5 RETAIL 48

10.6 HEALTHCARE 48

10.7 BANKING 48

10.8 EDUCATION 49

10.9 GOVERNMENT 49

11 GLOBAL DIGITAL SIGNAGE MARKET, BY REGION 50

11.1 OVERVIEW 50

11.2 MARKET ESTIMATES AND FORECAST, BY REGION, 2018–2027 50

11.3 NORTH AMERICA 52

11.3.1 MARKET ESTIMATES AND FORECAST, BY COUNTRY, 2018–2027 52

11.3.2 MARKET ESTIMATES AND FORECAST, BY PRODUCT TYPE, 2018–2027 53

11.3.3 MARKET ESTIMATES AND FORECAST, BY COMPONENT TYPE, 2018–2027 54

11.3.4 MARKET ESTIMATES AND FORECAST, BY TECHNOLOGY TYPE, 2018–2027 54

11.3.5 MARKET ESTIMATES AND FORECAST, BY APPLICATION, 2018–2027 55

11.3.6 MARKET ESTIMATES AND FORECAST, BY VERTICAL, 2018–2027 56

11.3.7 US 57

11.3.7.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT TYPE, 2018–2027 57

11.3.7.2 MARKET ESTIMATES AND FORECAST, BY COMPONENT TYPE, 2018–2027 57

11.3.7.3 MARKET ESTIMATES AND FORECAST, BY TECHNOLOGY TYPE, 2018–2027 57

11.3.7.4 MARKET ESTIMATES AND FORECAST, BY APPLICATION, 2018–2027 58

11.3.7.5 MARKET ESTIMATES AND FORECAST, BY VERTICAL, 2018–2027 58

11.3.8 CANADA 59

11.3.8.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT TYPE, 2018–2027 59

11.3.8.2 MARKET ESTIMATES AND FORECAST, BY COMPONENT TYPE, 2018–2027 59

11.3.8.3 MARKET ESTIMATES AND FORECAST, BY TECHNOLOGY TYPE, 2018–2027 59

11.3.8.4 MARKET ESTIMATES AND FORECAST, BY APPLICATION, 2018–2027 60

11.3.8.5 MARKET ESTIMATES AND FORECAST, BY VERTICAL, 2018–2027 60

11.3.9 MEXICO 61

11.3.9.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT TYPE, 2018–2027 61

11.3.9.2 MARKET ESTIMATES AND FORECAST, BY COMPONENT TYPE, 2018–2027 61

11.3.9.3 MARKET ESTIMATES AND FORECAST, BY TECHNOLOGY TYPE, 2018–2027 61

11.3.9.4 MARKET ESTIMATES AND FORECAST, BY APPLICATION, 2018–2027 62

11.3.9.5 MARKET ESTIMATES AND FORECAST, BY VERTICAL, 2018–2027 62

11.4 EUROPE 63

11.4.1 MARKET ESTIMATES AND FORECAST, BY COUNTRY, 2018–2027 63

11.4.2 MARKET ESTIMATES AND FORECAST, BY PRODUCT TYPE, 2018–2027 64

11.4.3 MARKET ESTIMATES AND FORECAST, BY COMPONENT TYPE, 2018–2027 65

11.4.4 MARKET ESTIMATES AND FORECAST, BY TECHNOLOGY TYPE, 2018–2027 65

11.4.5 MARKET ESTIMATES AND FORECAST, BY APPLICATION, 2018–2027 66

11.4.6 MARKET ESTIMATES AND FORECAST, BY VERTICAL, 2018–2027 67

11.4.7 UK 68

11.4.7.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT TYPE, 2018–2027 68

11.4.7.2 MARKET ESTIMATES AND FORECAST, BY COMPONENT TYPE, 2018–2027 68

11.4.7.3 MARKET ESTIMATES AND FORECAST, BY TECHNOLOGY TYPE, 2018–2027 68

11.4.7.4 MARKET ESTIMATES AND FORECAST, BY APPLICATION, 2018–2027 69

11.4.7.5 MARKET ESTIMATES AND FORECAST, BY VERTICAL, 2018–2027 69

11.4.8 GERMANY 70

11.4.8.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT TYPE, 2018–2027 70

11.4.8.2 MARKET ESTIMATES AND FORECAST, BY COMPONENT TYPE, 2018–2027 70

11.4.8.3 MARKET ESTIMATES AND FORECAST, BY TECHNOLOGY TYPE, 2018–2027 70

11.4.8.4 MARKET ESTIMATES AND FORECAST, BY APPLICATION, 2018–2027 71

11.4.8.5 MARKET ESTIMATES AND FORECAST, BY VERTICAL, 2018–2027 71

11.4.9 FRANCE 72

11.4.9.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT TYPE, 2018–2027 72

11.4.9.2 MARKET ESTIMATES AND FORECAST, BY COMPONENT TYPE, 2018–2027 72

11.4.9.3 MARKET ESTIMATES AND FORECAST, BY TECHNOLOGY TYPE, 2018–2027 72

11.4.9.4 MARKET ESTIMATES AND FORECAST, BY APPLICATION, 2018–2027 73

11.4.9.5 MARKET ESTIMATES AND FORECAST, BY VERTICAL, 2018–2027 73

11.4.10 ITALY 74

11.4.10.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT TYPE, 2018–2027 74

11.4.10.2 MARKET ESTIMATES AND FORECAST, BY COMPONENT TYPE, 2018–2027 74

11.4.10.3 MARKET ESTIMATES AND FORECAST, BY TECHNOLOGY TYPE, 2018–2027 74

11.4.10.4 MARKET ESTIMATES AND FORECAST, BY APPLICATION, 2018–2027 75

11.4.10.5 MARKET ESTIMATES AND FORECAST, BY VERTICAL, 2018–2027 75

11.4.11 SPAIN 76

11.4.11.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT TYPE, 2018–2027 76

11.4.11.2 MARKET ESTIMATES AND FORECAST, BY COMPONENT TYPE, 2018–2027 76

11.4.11.3 MARKET ESTIMATES AND FORECAST, BY TECHNOLOGY TYPE, 2018–2027 76

11.4.11.4 MARKET ESTIMATES AND FORECAST, BY APPLICATION, 2018–2027 77

11.4.11.5 MARKET ESTIMATES AND FORECAST, BY VERTICAL, 2018–2027 77

11.4.12 REST OF EUROPE 78

11.4.12.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT TYPE, 2018–2027 78

11.4.12.2 MARKET ESTIMATES AND FORECAST, BY COMPONENT TYPE, 2018–2027 78

11.4.12.3 MARKET ESTIMATES AND FORECAST, BY TECHNOLOGY TYPE, 2018–2027 78

11.4.12.4 MARKET ESTIMATES AND FORECAST, BY APPLICATION, 2018–2027 79

11.4.12.5 MARKET ESTIMATES AND FORECAST, BY VERTICAL, 2018–2027 79

11.5 ASIA-PACIFIC 80

11.5.1 MARKET ESTIMATES AND FORECAST, BY COUNTRY, 2018–2027 80

11.5.2 MARKET ESTIMATES AND FORECAST, BY PRODUCT TYPE, 2018–2027 81

11.5.3 MARKET ESTIMATES AND FORECAST, BY COMPONENT TYPE, 2018–2027 82

11.5.4 MARKET ESTIMATES AND FORECAST, BY TECHNOLOGY TYPE, 2018–2027 82

11.5.5 MARKET ESTIMATES AND FORECAST, BY APPLICATION, 2018–2027 83

11.5.6 MARKET ESTIMATES AND FORECAST, BY VERTICAL, 2018–2027 84

11.5.7 CHINA 85

11.5.7.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT TYPE, 2018–2027 85

11.5.7.2 MARKET ESTIMATES AND FORECAST, BY COMPONENT TYPE, 2018–2027 85

11.5.7.3 MARKET ESTIMATES AND FORECAST, BY TECHNOLOGY TYPE, 2018–2027 85

11.5.7.4 MARKET ESTIMATES AND FORECAST, BY APPLICATION, 2018–2027 86

11.5.7.5 MARKET ESTIMATES AND FORECAST, BY VERTICAL, 2018–2027 86

11.5.8 JAPAN 87

11.5.8.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT TYPE, 2018–2027 87

11.5.8.2 MARKET ESTIMATES AND FORECAST, BY COMPONENT TYPE, 2018–2027 87

11.5.8.3 MARKET ESTIMATES AND FORECAST, BY TECHNOLOGY TYPE, 2018–2027 87

11.5.8.4 MARKET ESTIMATES AND FORECAST, BY APPLICATION, 2018–2027 88

11.5.8.5 MARKET ESTIMATES AND FORECAST, BY VERTICAL, 2018–2027 88

11.5.9 INDIA 89

11.5.9.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT TYPE, 2018–2027 89

11.5.9.2 MARKET ESTIMATES AND FORECAST, BY COMPONENT TYPE, 2018–2027 89

11.5.9.3 MARKET ESTIMATES AND FORECAST, BY TECHNOLOGY TYPE, 2018–2027 89

11.5.9.4 MARKET ESTIMATES AND FORECAST, BY APPLICATION, 2018–2027 90

11.5.9.5 MARKET ESTIMATES AND FORECAST, BY VERTICAL, 2018–2027 90

11.5.10 REST OF ASIA-PACIFIC 91

11.5.10.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT TYPE, 2018–2027 91

11.5.10.2 MARKET ESTIMATES AND FORECAST, BY COMPONENT TYPE, 2018–2027 91

11.5.10.3 MARKET ESTIMATES AND FORECAST, BY TECHNOLOGY TYPE, 2018–2027 91

11.5.10.4 MARKET ESTIMATES AND FORECAST, BY APPLICATION, 2018–2027 92

11.5.10.5 MARKET ESTIMATES AND FORECAST, BY VERTICAL, 2018–2027 92

11.6 REST OF THE WORLD 93

11.6.1 MARKET ESTIMATES AND FORECAST, BY REGION, 2018–2027 93

11.6.2 MARKET ESTIMATES AND FORECAST, BY PRODUCT TYPE, 2018–2027 94

11.6.3 MARKET ESTIMATES AND FORECAST, BY COMPONENT TYPE, 2018–2027 95

11.6.4 MARKET ESTIMATES AND FORECAST, BY TECHNOLOGY TYPE, 2018–2027 95

11.6.5 MARKET ESTIMATES AND FORECAST, BY APPLICATION, 2018–2027 96

11.6.6 MARKET ESTIMATES AND FORECAST, BY VERTICAL, 2018–2027 97

11.6.7 MIDDLE EAST & AFRICA 98

11.6.7.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT TYPE, 2018–2027 98

11.6.7.2 MARKET ESTIMATES AND FORECAST, BY COMPONENT TYPE, 2018–2027 98

11.6.7.3 MARKET ESTIMATES AND FORECAST, BY TECHNOLOGY TYPE, 2018–2027 98

11.6.7.4 MARKET ESTIMATES AND FORECAST, BY APPLICATION, 2018–2027 99

11.6.7.5 MARKET ESTIMATES AND FORECAST, BY VERTICAL, 2018–2027 99

11.6.8 SOUTH AMERICA 100

11.6.8.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT TYPE, 2018–2027 100

11.6.8.2 MARKET ESTIMATES AND FORECAST, BY COMPONENT TYPE, 2018–2027 100

11.6.8.3 MARKET ESTIMATES AND FORECAST, BY TECHNOLOGY TYPE, 2018–2027 100

11.6.8.4 MARKET ESTIMATES AND FORECAST, BY APPLICATION, 2018–2027 101

11.6.8.5 MARKET ESTIMATES AND FORECAST, BY VERTICAL, 2018–2027 101

12 COMPETITIVE LANDSCAPE 102

12.1 COMPETITIVE OVERVIEW 102

12.2 MAJOR GROWTH STRATEGY IN THE GLOBAL DIGITAL SIGNAGE MARKET 103

12.3 COMPETITIVE BENCHMARKING 104

12.4 VENDOR SHARE ANALYSIS – CLIENT REQUIREMENT 105

13 COMPANY PROFILES 106

13.1 CISCO SYSTEMS INC 106

13.1.1 COMPANY OVERVIEW 106

13.1.2 FINANCIAL OVERVIEW 107

13.1.3 PRODUCTS/SOLUTION/SERVICES OFFERED 107

13.1.4 KEY DEVELOPMENTS 108

13.1.5 SWOT ANALYSIS 108

13.1.6 KEY STRATEGIES 108

13.2 SHARP CORPORATION 109

13.2.1 COMPANY OVERVIEW 109

13.2.2 FINANCIAL OVERVIEW 110

13.2.3 PRODUCTS/SOLUTION/SERVICES OFFERED 110

13.2.4 KEY DEVELOPMENTS 112

13.2.5 SWOT ANALYSIS 113

13.2.6 KEY STRATEGIES 113

13.3 PANASONIC CORPORATION 114

13.3.1 COMPANY OVERVIEW 114

13.3.2 FINANCIAL OVERVIEW 115

13.3.3 PRODUCTS/SOLUTION/SERVICES OFFERED 115

13.3.4 KEY DEVELOPMENTS 116

13.3.5 SWOT ANALYSIS 117

13.3.6 KEY STRATEGIES 117

13.4 3M COMPANY 118

13.4.1 COMPANY OVERVIEW 118

13.4.2 FINANCIAL OVERVIEW 118

13.4.3 PRODUCTS/SOLUTION/SERVICES OFFERED 119

13.4.4 KEY DEVELOPMENTS 119

13.4.5 SWOT ANALYSIS 119

13.4.6 KEY STRATEGIES 120

13.5 SONY CORPORATION 121

13.5.1 COMPANY OVERVIEW 121

13.5.2 FINANCIAL OVERVIEW 121

13.5.3 PRODUCTS/SOLUTION/SERVICES OFFERED 122

13.5.4 KEY DEVELOPMENTS 122

13.5.5 SWOT ANALYSIS 123

13.5.6 KEY STRATEGIES 123

13.6 INTEL CORPORATION 124

13.6.1 COMPANY OVERVIEW 124

13.6.2 FINANCIAL OVERVIEW 125

13.6.3 PRODUCTS/SOLUTION/SERVICES OFFERED 125

13.6.4 KEY DEVELOPMENTS 126

13.6.5 SWOT ANALYSIS 126

13.6.6 KEY STRATEGIES 126

13.7 HP INC 127

13.7.1 COMPANY OVERVIEW 127

13.7.2 FINANCIAL OVERVIEW 128

13.7.3 PRODUCTS/SOLUTION/SERVICES OFFERED 128

13.7.4 KEY DEVELOPMENTS 129

13.7.5 SWOT ANALYSIS 129

13.7.6 KEY STRATEGIES 129

13.8 SAMSUNG ELECTRONICS CO., LTD 130

13.8.1 COMPANY OVERVIEW 130

13.8.2 FINANCIAL OVERVIEW 131

13.8.3 PRODUCTS/SOLUTION/SERVICES OFFERED 131

13.8.4 KEY DEVELOPMENTS 132

13.8.5 SWOT ANALYSIS 133

13.8.6 KEY STRATEGIES 133

13.9 NEC CORPORATION 134

13.9.1 COMPANY OVERVIEW 134

13.9.2 FINANCIAL OVERVIEW 135

13.9.3 PRODUCTS/SOLUTION/SERVICES OFFERED 135

13.9.4 KEY DEVELOPMENTS 136

13.9.5 SWOT ANALYSIS 136

13.9.6 KEY STRATEGIES 137

13.10 TOSHIBA CORPORATION 138

13.10.1 COMPANY OVERVIEW 138

13.10.2 FINANCIAL OVERVIEW 138

13.10.3 PRODUCTS/SOLUTION/SERVICES OFFERED 139

13.10.4 KEY DEVELOPMENTS 139

13.10.5 SWOT ANALYSIS 140

13.10.6 KEY STRATEGIES 140

13.11 LG ELECTRONICS 141

13.11.1 COMPANY OVERVIEW 141

13.11.2 FINANCIAL OVERVIEW 142

13.11.3 PRODUCTS/SOLUTION/SERVICES OFFERED 143

13.11.4 KEY DEVELOPMENTS 143

13.11.5 SWOT ANALYSIS 143

13.11.6 KEY STRATEGIES 144