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Digital Signage Global Market Report 2022

Digital Signage Global Market Report 2022

  • February 2022
  • 175 pages
  • ID: 6233721
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the digital signage market are Samsung Electronics, LG Electronics, Leyard Optoelectronic, Sony Corporation, Sharp Corporation, Panasonic Corporation, NEC Corporation, Planar Systems Inc., Philips, Keywest Technology, Omnivex Corporation, Christie Digital Systems, BenQ Corporation, BrightSign LLC and Toshiba.

The global digital signage market is expected to grow from $17.33 billion in 2021 to $19.69 billion in 2022 at a compound annual growth rate (CAGR) of 13.6%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $28.3 billion in 2026 at a CAGR of 9.5%.

The digital signage market consists of sales of digital signage hardware and software by entities (organizations, sole traders, and partnerships) that are used to provide public information, internal communication, or share product information.Digital signage is a digital installation that uses display technologies to display multimedia content for advertising, promotions, and brand recognition, conveying internal communication for informational purposes.

Digital signage includes hardware, software, and solutions that help to influence consumer experiences, customer behavior, and decision-making.

The main type of products in digital signage are standalone displays and video walls.The standalone digital signage is digital displayed used for advertising and does not require any hardware or software and internet connection for operation.

These digital signage offerings include hardware, software, and services. These products are located indoor and outdoor and are used by retail, education, healthcare, corporate, stadium, government, and others.

North America was the largest region in the digital signage market in 2020.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The increasing demand for 4K and 8K resolution displays is significantly driving the growth of the digital signage market.The resolution is a measurement of pixels across the screen in both horizontal and vertical directions.

The desire for greater resolution, larger-sized TVs with modern display technology that gives realistic images with better image quality and increased viewing experience is driving demand for 4K and 8K resolution screens.The display screen’s display resolution produces a crisp and easy-to-read image.

In stadiums, retail stores, museum theatres, and planetariums, 4K and 8K resolution displays are constructed with ideal viewing distances for varied resolutions in view.For instance, according to Consumer Technology Association report, in 2020, 4K ultra high definition (UHD) sets accounted for 25 million units, up 12% from 2019.

Therefore, the increasing demand for 4K and 8K resolution displays is expected to propel the growth of the digital signage market going forward.

Technological advancements are shaping the digital signage market.Key players operating in the digital signage market are focusing on developing advanced technological solutions to strengthen their position in the market.

Technological advancements in digital signage include new digital signage display designs with enhanced features and software, advanced display technologies such as 3D screens and holographic displays, artificial intelligence, and AR/VR.For instance, in June 2020, HYPERVSN, a UK-based company offering digital signage launched a new holographic digital signage solution using 3D technology.

A hologram doctor, holographic marketers for socially distanced retailing, holographic menu displays, and Covid-19 data for information signs are all included in this digital signage.

In March 2021, Spectrio, a US-based provider of digital signage solutions acquired Enplug for an undisclosed amount.The deal expands Spectrio’s comprehensive digital communications platforms by providing enterprise-level management functionality to satisfy the requirements of multinational enterprises and boosting integrations to improve brand communications customization.

Enplug is a US-based technology company that offers digital signage solutions.

The countries covered in the digital signage market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

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