Digital Signage Market Research by Key Types and Major Application 2030

Digital Signage Market Growth & Trends

The global digital signage market size is predicted to attain USD 45.94 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to witness a CAGR of 8.0% over the forecast period owing to increasing demand from end-use industries, which prominently include retail and healthcare. The creation and distribution of content with digital signage are effective promotional strategies for the enterprises, as they can reach out to a larger audience base. This is anticipated to spur the adoption of digitized marketing via signage across the corporate and hospitality sectors. Digital displays equipped with 4K technology have high demand as they offer enhanced, sharp images for displays.

Digital Signage Market Segmentation

Grand View Research has segmented the global digital signage market on the basis of type, component, technology, location, content category, screen size, application, and region:

Based on the Type Insights, the market is segmented into Video Walls, Video Screen, Transparent LED Screen, Digital Poster, Kiosks, and Others.

• The video walls segment accounted for the largest market share of more than 26% in 2022 and this trend is expected to continue during the forecast period. The video walls and kiosks segments gained a high share in 2022 followed by the video screens segment.
• However, transparent LED screens segment is expected to emerge as the fastest-growing segment expanding at a CAGR of over 10.5% over the forecast period. Transparent LED screens are capable of offering a transparency level beyond 80% coupled with high resolution.

Based on the Component Insights, the market is segmented into Hardware, Software, and Service.

• The hardware components segment accounted for the largest market share of more than 57% in 2022 and is anticipated to maintain its position during the forecast period. Hardware components consist of displays, components required to manufacture a digital panel, banners, and so on. Compared to software, the hardware requirement is huge, and thus, the segment accounts for a large share in the industry.
• The services segment registers a comparatively lower demand owing to fewer maintenance and service issues occurring in the product. The services offered in the industry include integration & installation, maintenance, and consulting. The installation of a digital display and internet connectivity are the major services involved here. Therefore, the service offerings are quite cheaper as compared to the hardware and software requirements. This leads to a lesser market share.

Based on the Technology Insights, the market is segmented into LCD, LED, and Projection.

• LEDs are one of the achievements in display technology. Further advancements in LEDs have led to the evolution of OLED displays that are anticipated to propel the overall adoption of LEDs in displays. Superior picture quality offered by OLEDs is predicted to be a prominent factor for the increasing demand. However, the production costs and complicated manufacturing process, coupled with a shorter lifespan of LED displays could hamper the growth of this segment to some extent.
• LCD technology is one of the most extensively adopted technologies in the advertisement & marketing industry. The ease of producing LCDs and their lower manufacturing costs are a few factors behind the significant adoption of LCD technology in digital posters. However, LEDs have successfully made a mark as a standard product with their high-quality display. Manufacturers remain aspirant in the designing of flat-paneled, larger, brighter, and slimmer displays.

Based on the Location Insights, the market is segmented into In-store and Out-store.

• The in-store location segment accounted for the largest market share of over 71% in 2022. The in-store locations include the deployment of digital posters within closed premises, such as malls, corporate offices, retail shops, banks, and healthcare centers.
• However, the demand from the out-store location segment is expected to exhibit the fastest CAGR over the forecast years. The demand at out-store locations is expected to rise owing to the growing transportation sector, especially in developing countries.

Based on the Content Category Insights, the market is segmented into Broadcast and Non-Broadcast.

• Broadcast content category is expected to emerge as the fastest-growing segment expanding at a CAGR of over 8.8% over the forecast period. The broadcast content category is further segregated into the news, weather, sports, and others. The sports segment dominated the market in 2022 and accounted for the market share of over 35%. The increasing adoption of digital signage for displaying the sports related content across the stadium and sports ground during the tournaments is driving the segment growth.
• The news category is likely to account for a considerable share as well, followed by the sports content category. These segments are anticipated to witness significant growth in the forthcoming years owing to the rapidly increasing demand from the corporate sectors where digital signage is used extensively for communication purposes.

Based on the Screen Size Insights, the market is segmented into Below 32 Inches, 32 to 52 Inches, More than 52 Inches.

• Below 32 inches displays segment accounted for the largest market share of over 40% in 2022. The high share is attributed to the greater adoption of this type of signage in the retail sector. Shop dimensions are one of the most important reasons for concern in retail shops.
• The market for 32 to 52 inches digital posters is anticipated to witness the fastest CAGR over the forecast period owing to the increasing demand from the healthcare, corporate, and retail sectors. The demand for posters sized more than 52 inches is also expected to grow notably on account of the significantly expanding transportation sector and flourishing advertisement industry.

Based on the Application Insights, the market is segmented into Retail, Hospitality, Entertainment, Stadiums & Playgrounds, Corporate, Banking, Healthcare, Education, Transportation.

• The retail sector accounted for the largest market share of more than 19% in 2022. The retail sector is the most prominent sector demanding digitized advertisements for marketing and promoting the products and services. The competition among the retailers owing to the variety of product offerings in the industry has led to the growing awareness of effective marketing strategies.
• The transportation segment is expected to emerge as the fastest-growing segment expanding at a CAGR of over 9.8% over the forecast period. The transportation sector includes the application of digitized promotions & posters at airports, railway stations, metro stations, and bus stands.

Digital Signage Regional Outlook

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

Key Companies Profile & Market Share Insights

The introduction of innovative solutions is anticipated to propel the business in the coming years.

Some of the prominent players operating in the global digital signage market include,

• ADFLOW Networks
• BrightSign, LLC
• Cisco Systems, Inc.
• Intel Corporation
• KeyWest Technology, Inc.
• LG Electronics (LG Corp.)
• Microsoft Corp.
• NEC Display Solutions
• Omnivex Corp.
• Panasonic Corp.
• SAMSUNG
• Scala Digital Signage
• Winmate Inc.

Order a free sample PDF of the Digital Signage Market Intelligence Study, published by Grand View Research.