LONDON--(BUSINESS WIRE)--The global digital signage market size is poised to grow by USD 10.01 billion during 2020-2024, progressing at a CAGR of over 8% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The high growth of retail space across the globe has been identified as the crucial factor fueling the digital signage market growth. The increasing urbanization, growing disposable incomes, and the rise in demand for quality products are driving the retail industry growth in both emerging and advanced economies. With the expansion of the digital space, the adoption of digital signage will increase in the retail space. The digital signage solutions can be deployed as an integral part of the customer relationship management process as they enable effective information dissemination, create engaging customer experiences, and attract more customers. Consequently, the high growth of retail space will drive the digital signage market during the forecast period.
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Report Highlights:
- The major digital signage market growth came from the hardware segment. The high share of the hardware segment is owing to the increasing demand for larger panels and ultra-narrow bezel video walls with high resolution and low power consumption. The increasing number of companies offering comprehensive digital signage equipment management and growing software offerings using big data analytics and AI are driving the growth of the digital signage market share by the hardware segment.
- Europe accounted for the largest digital signage market share in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The increasing spending on digital advertising and the rise in deployment to enhance consumer engagement and branding initiatives will significantly influence digital signage market growth in this region.
- The global digital signage market is fragmented. AU Optronics Corp., Daktronics Inc., E Ink Holdings Inc., HP Inc., LG Electronics Inc., NEC Corp., Panasonic Corp., Samsung Electronics Co. Ltd., Sharp Corp., and Sony Corp. are some of the major market participants. To help clients improve their market position, this digital signage market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the digital signage market 2020-2024 is expected to have Negative growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
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High Growth of DOOH Signage will be a Key Market Trend
DOOH signage is an upcoming component in digital advertising, which is growing at an increasing pace and is one of the key digital signage market trends. DOOH signage is registering strong growth owing to the increasing number of public information displays (PIDs) being adapted for it. Companies such as SAMSUNG ELECTRONICS have developed high-performance outdoor displays for DOOH signage. Amscreen uses SAMSUNG ELECTRONICS' LTI750HF01 displays for its DOOH advertising, as these panel displays had operating specifications such as 178-degree wide view angle and supported multiple content formats.
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Digital Signage Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist digital signage market growth during the next five years
- Estimation of the digital signage market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the digital signage market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of digital signage market vendors
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Executive Summary
- Market Overview
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product placement
- Hardware - Market size and forecast 2019-2024
- Services - Market size and forecast 2019-2024
- Software - Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by Application
- Market segments
- Comparison by Application placement
- Retail - Market size and forecast 2019-2024
- QSR and restaurants - Market size and forecast 2019-2024
- Education - Market size and forecast 2019-2024
- Healthcare - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by Application
Customer landscape
- Overview
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher-priced units
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- AU Optronics Corp.
- Daktronics Inc.
- E Ink Holdings Inc.
- HP Inc.
- LG Electronics, Inc.
- NEC Corp.
- Panasonic Corp.
- Samsung Electronics Co. Ltd.
- Sharp Corp.
- Sony Corp.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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