September 23, 2023
digital signage market

Digital Signage Market Anticipated to Flourish, Surpassing US $19 Billion in 2021

The global digital signage market, achieving a valuation of nearly US $19 billion in 2021, is poised for robust growth in the near future according to preliminary research and estimations by Fairfield.

Retail Sector’s Rising Penetration Drives Digital Signage Market Growth

The integration of digital signage in several retail businesses is revolutionizing the shopping experience for customers. By investing in digitalization, retailers enhance customer interactions and journeys. Digital signage solutions allow retailers to offer personalized experiences, custom offerings, and theme-based in-store experiences. This digital engagement not only influences purchasing decisions but also facilitates critical information dissemination, ultimately influencing customer behavior. This ability to acquire and retain customers is driving the digital signage market’s expansion across various industries.

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Significant Uptake of Cloud-Based Signage Solutions

Cloud technology’s evolution is transforming various sectors by ensuring seamless connectivity. Numerous companies are embracing cloud platforms to deploy digital signage solutions, utilizing web-based software to deliver information and messages. Cloud-based solutions offer enhanced flexibility, enabling remote access for clients and streamlining operations. With simpler deployment and scalability compared to on-premises solutions, cloud-based digital signage solutions find favor, especially for multi-location content management. The cost savings, improved safety, and reduced total cost of ownership associated with cloud-based solutions have fueled their adoption, driving the growth of the digital signage market.

Video Walls Emerge as Key Growth Contributor

The adoption of video walls is set to witness substantial growth, significantly contributing to the digital signage market’s valuation. Technological advancements have elevated the role of video walls in advertising products and services. Offering LED, OLED, and LCD options, video walls provide exceptional clarity, high definition, and effective promotion. Their visual appeal captures attention in crowded areas, ensuring customer engagement and boosting the likelihood of acquiring new customers. This appeal and engagement are projected to spur demand for video walls and drive the overall growth of the digital signage market.

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Asia Pacific Presents Lucrative Opportunities

Emerging economies in Asia Pacific are poised to embrace digital signage solutions, driven by robust economic growth, industrialization, and urbanization. The region’s manufacturing prowess, coupled with a favorable business environment and a large customer base, fuels adoption. Various sectors, including education, public transport, retail, commercial enterprises, and government bodies, leverage digital signage to influence purchasing decisions. The use of digital signage has become prominent in family-owned businesses such as restaurants, hotels, and jewelry stores, contributing to the growth of the digital signage market in the region.

Furthermore, the thriving jewelry industry in India, which contributes significantly to the country’s GDP, provides ample opportunities for businesses to market their products through digital signage. India is a leading player in the export of polished and cut diamonds, silver, gold jewelry, and lab-grown diamonds. As investments in the sector increase, digital signage becomes a critical tool for marketing and customer engagement, thereby driving growth in the digital signage market.

Digital Signage Market: Competitive Landscape

The digital signage market is marked by new product launches, collaborations, and portfolio expansions as companies vie for a competitive edge. Key players include NEC Display Solutions Co. Ltd., Sony Corporation, Samsung Electronics Co. Ltd., LG Display Co. Ltd., Panasonic Corporation, Scala, Omnivex Corporation, E Ink Holdings Inc., Daktronics, Deepsky Corporation Ltd., Leyard Optoelectronic Co. Ltd., and Exceptional 3D.

Browse Digital Signage Market Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 – By Product, Technology, Grade, Application, End-user, Region:

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This press release first seen on Brilad