Digital Signage Market by Product (Kiosks, Menu Boards, Billboards, Sign Boards), Offering (Hardware (Displays, Media Players, Projectors, Mounts & Other Accessories), Software, and Services), Application and Geography - Global Forecast to 2023

The digital signage market is expected to be worth USD 32.84 Billion by 2023, at a CAGR of 7.4% between 2017 and 2023. The base year considered for the study is 2016 and the forecast period is between 2017 and 2023.

Objectives of Digital Signage Market Study:

• To define, describe, and forecast the global market segmented on the basis of product, offering, application, and geography
• To forecast the size in terms of value and volume of the market segments with respect to four major regions: North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
• To provide detailed information regarding the major factors influencing the growth of the signage market (drivers, restraints, pportunities, and challenges)
• To strategically analyze the micromarkets with respect to individual growth trends, future prospects, and contribution to the total market
• To analyze opportunities in the market for various stakeholders by identifying high-growth segments of signage market
• To benchmark players within the market using proprietary “Competitive Leadership Mapping” framework that analyzes market players on various parameters within the broad categories of business and product strategies.
• To analyze various strategies such as joint ventures, mergers and acquisitions, product launches, and research and development (R&D) in the market

Research Methodology:

This research study incorporates the usage of secondary sources, directories, and databases such as Hoovers, Bloomberg BusinessWeek, Factiva, and OneSource to identify and collect information useful for the extensive technical, market-oriented, and commercial study of the digital signage market. Primary sources mainly comprise several experts from core and related industries, along with preferred suppliers, manufacturers, distributors, service providers, technology developers, alliances, standards, and certification organizations related to various parts of this industry’s value chain. In-depth interviews of various primary respondents, including key industry participants, subject matter experts (SMEs), C-level executives of key companies, and consultants, have been conducted to obtain and verify critical qualitative and quantitative information as well as assess future prospects. The breakdown of the profiles of primaries has been depicted in the figure below:

To know about the assumptions considered for the study, download the pdf brochure

This report provides valuable insights into the ecosystem of the digital signage market. The major players profiled in this report include Samsung Electronics Co., Ltd. (South Korea), LG Display Co., Ltd. (South Korea), NEC Display Solutions (Japan), Sharp Corporation (Japan), Planar Systems, Inc. (US), AU Optronics Corporation (Taiwan), Sony Corporation (Japan), Panasonic Corporation (Japan), Adflow Networks (Canada), Omnivex Corporation (Canada), Christie Digital Systems USA, Inc. (US), Exceptional 3D (US), Scala, Inc.(US), Intuilab SA (France), and E Ink Holdings Inc. (Taiwan).

Key Target Audience:

• Raw material and manufacturing equipment suppliers
• Electronic design automation (EDA) and design tool vendors
• Software companies providing solutions in various industries that use digital signage
• Manufacturers and suppliers of displays
• Manufacturers and suppliers of media players, mounts, and other accessories
• Asset management consultants who specialize in physical asset management
• Research institutes and organizations
• Government bodies, venture capitalists, and private equity firms

Scope of the Report:

The research report segments the market into the following submarkets:

Digital Signage Market, by Product

• Kiosks
• Menu Boards
• Billboards
• Sign Boards
• Others

Digital Signage Market, by Offering

• Hardware
  • Displays
    • Displays, by Type
      • LCD Display
      • OLED Display
      • Direct-View Fine-Pixel LED Display
      • Direct-View Large-Pixel LED Display
      • E-Paper Display
    • Displays, by Resolution
      • 8K
      • 4K
      • WQHD/2K
      • FHD
      • HD
      • Others
    • Displays, by Brightness
      • 0–500 nits
      • 501–1000 nits
      • 1001–2000 nits
      • 2001–3000 nits
      • More than 3000 nits
    • Media Players
    • Projectors
    • Mounts & Other Accessories
• Software
  • Edge Server Software
  • Content Management System
  • Others
• Services
  • Installation Services
  • Maintenance & Support Services
  • Consulting & Other Services

Digital Signage Market, by Application

• Commercial
  • Retail
  • Corporate
  • Healthcare
  • Hospitality
  • Government
• Infrastructural
  • Transportation
  • Entertainment
• Institutional
  • Banking
  • Education
• Industrial

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to companies specific needs. The following customization options are available for the report.

• Company Information
  • Detailed analysis and profiling of additional market players (up to five)

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 20)
    2.1 Research Data
           2.1.1 Secondary and Primary Research
           2.1.2 Secondary Data
                    2.1.2.1 List of Major Secondary Sources
                    2.1.2.2 Secondary Sources
           2.1.3 Primary Data
                    2.1.3.1 Experts Involved in Primary Interviews
                    2.1.3.2 Breakdown of Primaries
                    2.1.3.3 Primary Sources
                    2.1.3.4 Key Industry Insights
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Approach for Capturing the Market Share By Bottom-Up Analysis (Demand Side)
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach for Capturing the Market Share By Top-Down Analysis (Supply Side)
    2.3 Market Share Estimation
    2.4 Market Breakdown and Data Triangulation
    2.5 Research Assumptions

3 Executive Summary (Page No. - 30)

4 Premium Insights (Page No. - 34)
    4.1 Attractive Opportunities for the Growth of Digital Signage Market
    4.2 Market, By Hardware, Software, and Service
    4.3 Market, By Region
    4.4 Market, By Application
    4.5 Digital Signage Hardware Market, By Offering

5 Market Overview (Page No. - 37)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 High Adoption of Digital Signage in the Commercial Sector and the Increasing Demand for Customized Solutions and Software
                    5.2.1.2 High Cost-Effectiveness of Digital Signage and Being Environment-Friendly
                    5.2.1.3 Enhancing Technological Innovations in Display Technologies
                    5.2.1.4 Rising Infrastructure in Emerging Countries
           5.2.2 Restraints
                    5.2.2.1 Increasing Trend of Online/Broadcast Advertisement
                    5.2.2.2 Lack of Standards for Interoperability Between Devices
           5.2.3 Opportunities
                    5.2.3.1 Increasing Demand for Cloud-Based Software Along With Dynamic Content Creation
                    5.2.3.2 Increasing Interactivity Capabilities of the Digital Signage Systems
                    5.2.3.3 Increasing Panel Size and Brightness of Displays for Enhanced Product Advertisement and Promotion
                    5.2.3.4 Increasing Focus on R&D Activities
           5.2.4 Challenges
                    5.2.4.1 Fluctuating Average Selling Price of Display Panels
                    5.2.4.2 Developing Equipment Suitable for All Weathers in Outdoor Applications

6 Industry Trends (Page No. - 45)
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Trends in the Digital Signage Market
           6.3.1 Increasing Usage of Bluetooth Low Energy (BLE) Beacons in the Market
           6.3.2 Advancements in Nfc-Enabled Digital Signage
           6.3.3 Increasing Deployment of Digital Menu Boards in the Restaurants
           6.3.4 Trend Toward Separate Digital Asset Management Platform
           6.3.5 Outsourcing of Digital Signage Networks
           6.3.6 Impact of Latest Technological Trends on Digital Signage
                    6.3.6.1 Internet of Things (IoT)
                    6.3.6.2 Big Data
                    6.3.6.3 Artificial Intelligence (AI)
           6.3.7 Rising Popularity of Wireless Digital Signage Solutions

7 Digital Signage Market, By Product (Page No. - 50)
    7.1 Introduction
    7.2 Kiosks
           7.2.1 Interactive Kiosks
                    7.2.1.1 Automated Teller Machines (ATM)
                    7.2.1.2 Self-Service Kiosks
                    7.2.1.3 Vending Kiosks
    7.3 Menu Boards
           7.3.1 Interactive
           7.3.2 Noninteractive
    7.4 Billboards
           7.4.1 Interactive
           7.4.2 Noninteractive
    7.5 Sign Boards
           7.5.1 Interactive
           7.5.2 Noninteractive
    7.6 Others

8 Digital Signage Market, By Offering (Page No. - 57)
    8.1 Introduction
    8.2 Hardware
           8.2.1 Displays
                    8.2.1.1 Displays, By Type
                               8.2.1.1.1 LCD Display
                               8.2.1.1.2 OLED Display
                               8.2.1.1.3 Direct-View Fine-Pixel Led
                               8.2.1.1.4 Direct-View Large-Pixel Led
                               8.2.1.1.5 E-Paper Display
                    8.2.1.2 Displays, By Resolution
                               8.2.1.2.1 8k
                               8.2.1.2.2 4k
                               8.2.1.2.3 WQHD/2k
                               8.2.1.2.4 FHD
                               8.2.1.2.5 HD
                               8.2.1.2.6 Others
                    8.2.1.3 Displays, By Brightness
                               8.2.1.3.1 0–500 Nits
                               8.2.1.3.2 501–1,000 Nits
                               8.2.1.3.3 1001–2000 Nits
                               8.2.1.3.4 2001–3000 Nits
                               8.2.1.3.5 More Than 3000 Nits
           8.2.2 Media Players
           8.2.3 Projectors
           8.2.4 Mounts & Other Accessories
    8.3 Software
           8.3.1 Edge Server Software
           8.3.2 Content Management System
           8.3.3 Others
    8.4 Services
           8.4.1 Installation Services
           8.4.2 Maintenance & Support Services
           8.4.3 Consulting & Other Services

9 Digital Signage Market, By Application (Page No. - 97)
    9.1 Introduction
    9.2 Commercial
           9.2.1 Retail
                    9.2.1.1 Indoor Advertisement
                    9.2.1.2 Outdoor Advertisement
           9.2.2 Corporate
                    9.2.2.1 Indoor Advertisement
                    9.2.2.2 Outdoor Advertisement
           9.2.3 Healthcare
                    9.2.3.1 Indoor Advertisement
                    9.2.3.2 Outdoor Advertisement
           9.2.4 Hospitality
                    9.2.4.1 Indoor Advertisement
                    9.2.4.2 Outdoor Advertisement
           9.2.5 Government
                    9.2.5.1 Indoor Advertisement
                    9.2.5.2 Outdoor Advertisement
    9.3 Infrastructural
           9.3.1 Transportation
                    9.3.1.1 Indoor Advertisement
                    9.3.1.2 Outdoor Advertisement
           9.3.2 Entertainment
                    9.3.2.1 Indoor Advertisement
                    9.3.2.2 Outdoor Advertisement
    9.4 Institutional
           9.4.1 Banking
                    9.4.1.1 Indoor Advertisement
                    9.4.1.2 Outdoor Advertisement
           9.4.2 Education
                    9.4.2.1 Indoor Advertisement
                    9.4.2.2 Outdoor Advertisement
    9.5 Industrial
           9.5.1 Indoor Advertisement
           9.5.2 Outdoor Advertisement
    9.6 Other Applications
           9.6.1 Indoor Advertisement
           9.6.2 Outdoor Advertisement

10 Geographic Analysis (Page No. - 114)
     10.1 Introduction
     10.2 North America
             10.2.1 US
             10.2.2 Canada
             10.2.3 Mexico
     10.3 Europe
             10.3.1 UK
             10.3.2 Germany
             10.3.3 France
             10.3.4 Rest of Europe
     10.4 APAC
             10.4.1 China
             10.4.2 Japan
             10.4.3 South Korea
             10.4.4 Rest of APAC
     10.5 Rest of the World (RoW)
             10.5.1 Middle East & Africa
             10.5.2 South America

11 Competitive Landscape (Page No. - 132)
     11.1 Introduction
     11.2 Market Ranking Analysis of the Digital Signage Market
     11.3 Strategic Benchmarking
             11.3.1 Major Strategies Adopted By the Key Players
     11.4 Market (Global):Competitive Leadership Mapping, 2017
             11.4.1 Visionary Leaders
             11.4.2 Dynamic Differentiators
             11.4.3 Innovators
             11.4.4 Emerging Companies
     11.5 Strength of Product Portfolio
     11.6 Business Strategy Excellence
     11.7 Competitive Situation and Trends
             11.7.1 Battle for Market Share: Product Launches Was the Key Strategy Adopted By Companies Between 2015 and 2017

Top Companies Analyzed for This Study are — Samsung Electronics Co., Ltd. (South Korea); LG Display Co., Ltd. (South Korea); NEC Display Solutions, Ltd. (Japan); Sharp Corporation (Japan); Planar Systems, Inc. (US); Sony Corporation (Japan); Au Optronics Corporation (Taiwan); Panasonic Corporation (Japan); Adflow Networks (Canada); Omnivex Corporation (Canada); E Ink Holdings, Inc. (Taiwan); Broadsign International LLC (Canada); Benq Corporation (Taiwan); Cisco Systems Inc. (US); Shenzhen Liantronics Co., Ltd. (China); Intuilab Sa (France); Christie Digital Systems USA, Inc. (US); Scala, Inc. (US); Signagelive (UK); Retop Led Display Co., Ltd. (China); Vtron Group Co., Ltd. (China); Barco Nv (Belgium); Tpv Technology Ltd. (Hong Kong); Exceptional 3d (US); 3m (US)

12 Company Profiles (Page No. - 141)
     12.1 Introduction
(Business Overview, Products Offered & Services Strategies, Key Insights, Recent Developments, MnM View)*
     12.2 Samsung Electronics Co., Ltd.
     12.3 LG Display Co., Ltd.
     12.4 Sharp Corporation
     12.5 Panasonic Corporation
     12.6 Sony Corporation
     12.7 NEC Display Solutions Ltd
     12.8 Au Optronics Corporation
     12.9 Planar Systems, Inc.
     12.10 Scala Inc.
     12.11 Omnivex Corporation
     12.12 Key Innovators
             12.12.1 Exceptional 3d
             12.12.2 E Ink Holdings Inc.
             12.12.3 Chrisitie Digital Systems USA, Inc.
             12.12.4 Adflow Networks
             12.12.5 Intuilab Sa (France)

*Details on Business Overview, Products Offered & Services Strategies, Key Insights, Recent Developments, MnM View Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 184)
     13.1 Insights of Industry Experts
     13.2 Discussion Guide
     13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.4 Introducing RT: Real-Time Market Intelligence
     13.5 Available Customizations
     13.6 Related Reports
     13.7 Author Details

List of Tables (63 Tables)

Table 1 Digital Signage Market, By Product, 2014–2023 (USD Billion)
Table 2 Market Size, 2014–2023 (USD Billion)
Table 3 Market, By Hardware Offering, 2014–2023 (USD Billion)
Table 4 Market for Hardware Offering, By Application, 2014–2023 (USD Billion)
Table 5 Market for Hardware Offering, By Commercial Application, 2014–2023 (USD Billion)
Table 6 Market for Hardware Offering, By Infrastructural Application, 2014–2023 (USD Billion)
Table 7 Market for Hardware Offering, By Institutional Application, 2014–2023 (USD Million)
Table 8 Market for Displays, By Type, 2014–2023 (USD Billion)
Table 9 Digital Signage Market for Displays, By Type, 2014–2023 (Thousand Units)
Table 10 Market for Displays, By Application, 2014–2023 (USD Million)
Table 11 Market for Displays, By Commercial Application, 2014–2023 (USD Million)
Table 12 Market for Displays, By Infrastructural Application, 2014–2023 (USD Million)
Table 13  Signage Market for Displays, By Institutional Application, 2014–2023 (USD Million)
Table 14 Market for Displays, By Resolution, 2014–2023 (USD Million)
Table 15 Market for Displays, By Brightness, 2014–2023 (USD Million)
Table 16 Market for Media Players, By Application, 2014–2023 (USD Million)
Table 17 Market for Media Players, By Commercial Application, 2014–2023 (USD Million)
Table 18 Market for Media Players, By Infrastructural Application, 2014–2023 (USD Million)
Table 19 Market for Media Players, By Institutional Application, 2014–2023 (USD Million)
Table 20 Market for Projectors, By Application, 2014–2023 (USD Million)
Table 21 Digital Signage Market for Projectors, By Commercial Application, 2014–2023 (USD Million)
Table 22 Market for Projectors, By Infrastructural Application, 2014–2023 (USD Million)
Table 23 Market for Projectors, By Institutional Application, 2014–2023 (USD Million)
Table 24 Market for Mounts and Other Accessories, By Application, 2014–2023 (USD Million)
Table 25 Market for Mounts and Other Accessories, By Commercial Application, 2014–2023 (USD Million)
Table 26 Market for Mounts and Other Accessories, By Infrastructural Application, 2014–2023 (USD Million)
Table 27 Market for Mounts and Other Accessories, By Institutional Application, 2014–2023 (USD Million)
Table 28 Market for Software, By Offering, 2014–2023 (USD Billion)
Table 29 Market for Software Offerings, By Application, 2014–2023 (USD Billion)
Table 30 Market for Software Offerings, By Commercial Application, 2014–2023 (USD Million)
Table 31 Market for Software Offerings, By Infrastructural Application, 2014–2023 (USD Million)
Table 32 Digital Signage Market for Software Offerings, By Institutional Application, 2014–2023 (USD Million)
Table 33 Market for Services, 2014–2023 (USD Billion)
Table 34 Market for Services, By Application, 2014–2023 (USD Million)
Table 35 Market for Services, By Commercial Application, 2014–2023 (USD Million)
Table 36 Market for Services, By Infrastructural Application, 2014–2023 (USD Million)
Table 37 Market for Services, By Institutional Application, 2014–2023 (USD Million)
Table 38 Market for Installation Services, By Application, 2014–2023 (USD Million)
Table 39 Market for Installation Services , By Commercial Application, 2014–2023 (USD Million)
Table 40 Market for Installation Services, By Infrastructural Application, 2014–2023 (USD Million)
Table 41 Market for Installation Services, By Institutional Application, 2014–2023 (USD Million)
Table 42 Digital Signage Market for Maintenance and Support Services, By Application, 2014–2023 (USD Million)
Table 43 Market for Maintenance and Support Services, By Commercial Application, 2014–2023 (USD Million)
Table 44 Market for Maintenance and Support Services, By Infrastructural Application, 2014–2023 (USD Million)
Table 45 Market for Maintenance and Support Services, By Institutional Application, 2014–2023 (USD Million)
Table 46 Market for Consulting and Other Services, By Application, 2014–2023 (USD Million)
Table 47 Market for Consulting and Other Services, By Commercial Application, 2014–2023 (USD Million)
Table 48 Market for Consulting and Other Services, By Infrastructural Application, 2014–2023 (USD Million)
Table 49 Market for Consulting and Other Services, By Institutional Application, 2014–2023 (USD Million)
Table 50 Market, By Application, 2014–2023 (USD Billion)
Table 51 Market, By Commercial Application, 2014–2023 (USD Billion)
Table 52 Market for Commercial Application, By Region, 2014–2023 (USD Billion)
Table 53 Digital Signage Market, By Infrastructural Application, 2014–2023 (USD Billion)
Table 54 Market for Infrastructural Application, By Region, 2014–2023 (USD Billion)
Table 55 Market for Other Services, By Institutional Application, 2014–2023 (USD Billion)
Table 56 Market for Institutional Application, By Region, 2014–2023 (USD Million)
Table 57 Market for Industrial Application, By Region, 2014–2023 (USD Billion)
Table 58 Market, By Region, 2014–2023 (USD Billion)
Table 59 Market in North America, By Country, 2014–2023 (USD Billion)
Table 60 Market in Europe, By Country, 2014–2023 (USD Billion)
Table 61 Market in APAC, By Country, 2014–2023 (USD Billion)
Table 62 Market in RoW, By Country, 2014–2023 (USD Billion)
Table 63 Market Ranking Analysis of the Top 5 Players in the Digital Signage Market, 2016

List of Figures (62 Figures)

Figure 1 Market Segmentation
Figure 2 Digital Signage Market, By Geography
Figure 3 Market: Process Flow of Market Size Estimation
Figure 4 Market: Research Design
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Market Breakdown & Data Triangulations
Figure 8 Digital Signage Market, 2014–2023 (USD Billion)
Figure 9 Digital Signage, By Product, 2017 vs 2023 (USD Billion)
Figure 10 Digital Signage, By Offering, 2017 vs 2023 (USD Billion)
Figure 11 Digital Signage, By Application, 2017 vs 2023 (USD Billion)
Figure 12 China Expected to Grow at the Highest CAGR Between 2017 and 2023 in the Global Digital Signage Market
Figure 13 Market Expected to Exhibit High Growth Between 2017 and 2023
Figure 14 Digital Signage Software Market Expected to Grow at the Highest CAGR During the Forecast Period
Figure 15 Market in APAC Expected to Grow at the Highest CAGR During the Forecast Period
Figure 16 Commercial Application Held the Largest Market Size in the Digital Signage Market Between 2017 and 2023
Figure 17 Display Panels Expected to Grow at the Highest CAGR During the Forecast Period
Figure 18 Market: Drivers, Restraints, Opportunities, and Challenges
Figure 19 Value Chain Analysis: Major Value Added During the Development and Integration Phases
Figure 20 Market, By Product
Figure 21 Sign Boards are Expected to Register the Highest CAGR During the Forecast Period
Figure 22 Market for Software Expected to Register the Highest CAGR During the Forecast Period
Figure 23 Digital Signage Market, By Hardware Offering
Figure 24 Displays Expected to Dominate the Digital Signage Hardware Market During the Forecast Period
Figure 25 Infrastructural Application Expected to Register the Highest CAGR in the Digital Signage Hardware Market During the Forecast Period
Figure 26 Types of Displays
Figure 27 Direct-View Large-Pixel Led Expected to Register the Highest CAGR in the Market for Displays During the Forecast Period
Figure 28 Commercial Application in the Digital Signage Market for Displays During the Forecast Period
Figure 29 Commercial Application Leads the Market for Projectors During the Forecast Period
Figure 30 Infrastructural Application Expected to Register the Highest CAGR in the Market for Mounts and Other Accessories During the Forecast Period
Figure 31 Software Offerings: Digital Signage Market
Figure 32 Content Management System Expected to Dominate the Digital Signage Software Market During the Forecast Period
Figure 33 Commercial Application to Lead the Digital Signage Software Market During the Forecast Period
Figure 34 Edge Server Software
Figure 35 Processing of Edge Server Software
Figure 36 Functions of Content Management Software
Figure 37 Processes Involved in Distribution and Scheduling Software
Figure 38 Maintenance and Support Services Expected to Register the Highest CAGR in the Market for Services During the Forecast Period
Figure 39 Commercial Application Expected to Dominate the Market for Services During the Forecast Period
Figure 40 Market, By Application
Figure 41 Infrastructural Application Expected to Register the Highest CAGR in the Market for Application During the Forecast Period
Figure 42 Usage of Digital Signage in the Retail Sector
Figure 43 Benefits of Digital Signage in the Government Sector
Figure 44 Digital Signage Market, By Geography
Figure 45 APAC Expected to Grow at the Highest CAGR During the Forecast Period
Figure 46 Geographic Snapshot of Market: Rapidly Growing Markets Emerging as New Hotspots
Figure 47 US Expected to Dominate the North American Market During the Forecast Period
Figure 48 North America: Digital Signage Market Snapshot
Figure 49 Germany Expected to Register the Highest CAGR in Market During the Forecast Period
Figure 50 Asia-Pacific: Market Snapshot
Figure 51 South Korea Expected to Register the Highest CAGR in the Market During the Forecast Period
Figure 52 Middle East & Africa Expected to Register the Highest CAGR in the Market During the Forecast Period
Figure 53 Companies Adopted Product Launches and Expansions as the Key Growth Strategies Between 2015 and 2017
Figure 54 Product Launches, and Mergers and Acquisitions are the Major Strategies Adopted By Industry Players
Figure 55 Digital Signage Market Competitive Leadership Mapping, 2017
Figure 56 Geographic Revenue Mix of Key Market Players
Figure 57 Samsung Electronics Co., Ltd.: Company Snapshot
Figure 58 LG Display Co., Ltd.: Company Snapshot
Figure 59 Sharp Corporation: Company Snapshot
Figure 60 Panasonic Corporation: Company Snapshot
Figure 61 Sony Corporation: Company Snapshot
Figure 62 AU Optronics Corporation: Company Snapshot

The global digital signage market is projected to exhibit lucrative growth potential during the forecast period. The market is riven by factors such increasing adoption of digital signage hardware and software products in commercial sector applications, and rising infrastructure expansions in emerging countries. The enhanced innovations in the display technology such as OLED, electronic paper display (EPD), and quantum dot LED (QLED) are some of the factors driving the market. The was valued at USD 19.61 Billion in 2016 and is expected to reach USD 32.84 Billion by 2023, at a CAGR of 7.4% during the forecast period.

Digital signage has seen major deployment in the retail sector. Retailers prefer digital signage as it offers the ability to change what is being displayed on the signage without much effort in terms of time or money, thereby saving cost in the long run. The ability to display vivid content, including videos, also supports the growth of the digital signage market. Another key factor impacting this market is the landscape in the display technologies. With ASPs for display technologies showing a downward trend in the coming years, the initial cost can be brought down further that can result in the higher adoption of digital signage. This reduction will also enable growth for signage that demand premium displays. On the flip side, the growth in online advertising serves as a potential threat to the market. Furthermore, the higher initial cost in comparison to the traditional displays plays a critical role in moving customers from traditional signage to digital signage.

Increasing deployment of digital signage solutions is likely to help the tourism and hospitality industries to grow further. Digital signage market is boosted as the adoption of these solutions is increased with the availability of high-resolution displays at a lower price, which is the key reason for the growth of this adoption. Also, there are opportunities for the DOOH market to grow by utilizing new technologies in advertisements to interact directly with consumers and even act as a PoS. Digital signage products such as interactive kiosks, displays, and video walls are installed at various locations such as airport, malls, and retail stores. The growth of retail centers and advent of digital technology has shown a great impact on the global signage market. Technological innovations such as touchscreen technology, near-field communication (NFC), and beacons have created opportunities for this market. The growth of the digital signage is mainly dependent on the how much and when information is viewed by individuals at different places and locations. It is more visible and user-friendly than the printed media; it is also cost-effective in the long run as there are no additional costs required to change content. However, the lack of standardization and awareness about digital signage are the factors restraining the growth of the market.

The hardware offerings led the global market in 2016 whereas the software offering market is expected to register the highest growth rate between 2017 and 2023. The high growth rate of the market for software offering can be attributed to the requirement to update software licenses on a regular basis, and advancements and upgrades in software. North America is expected to hold the largest share of the digital signage market in 2023, whereas APAC region is projected to grow at the highest growth rate during the forecast period.

In 2016, the digital signage market was led by Samsung Electronics Co., Ltd. (South Korea), LG Display Co., Ltd. (South Korea), NEC Display Solutions (Japan), Sharp Corporation (Japan), and Planar Systems, Inc. (US). The other major players in the market include AU Optronics Corporation (Taiwan), Sony Corporation (Japan), Panasonic Corporation (Japan), Adflow Networks (Canada), Omnivex Corporation (Canada), Christie Digital Systems USA, Inc. (US), Exceptional 3D (US), Scala, Inc. (US), Intuilab SA (France), and E Ink Holdings Inc. (Taiwan).

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