The worldwide sales of the digital signage systems market were estimated at around US$ 17.54 billion in 2022. In 2023, the net demand for digital signage systems, in terms of value, is US$ 19.33 billion. The overall market is anticipated to increase at a CAGR of 11.8% through 2033. By the end of 2033, the global digital signage system market value is projected to reach a valuation of US$ 59.16 billion.
The global digital signage software industry is gaining traction with the growing demand for new integrated features in digital signage systems. The breadth of the digital signage software market is predicted to expand as display device prices decrease in the coming days. The digital signage market problems include a high initial cost of installation, a large investment in maintenance, content creation, support, and hardware and software.
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“Wider adoption of LED technology, as it is simple and inexpensive to maintain, is stimulating manufacturers to continue to create flat-paneled OLED and LED displays. Additionally, this enables the brand owners to push sales of the top-performing items or combinations in the market- opines Sudip Saha, managing director and MD at Future Market Insights (FMI) analyst.
Key Takeaways from the Digital Signage System Market Report
- The market in the United States is expected to record a CAGR of 10.1% through 2033.
- The United Kingdom is the leading market in Europe and is expected to grow at a CAGR of 9.5% from 2023 to 2033.
- The market in Germany, with a 10.4% CAGR through 2033, is expected to spend more on the development of new technologies.
- China dominates Asia’s digital signage market with an anticipated CAGR of 11% through 2033.
- India is remarkably growing in the market for digital signage systems, with an anticipated CAGR of 12.7% during the forecast period.
- Because of their excellent display, OLED and LEDs have become mainstream commodities, garnering nearly 64.3% market share in 2023.
Competitive Landscape for Digital Signage System Market:
In order to gain a competitive advantage, prominent market participants seek to provide items of exceptional quality and value at a reasonable price. However, acquiring orders in bulk from advertising companies remains the key strategy for digital signage display manufacturers to expand their customer base.
By concentrating on the development of display and touchscreen technology, leading market players are trying to standardize the layout of digital signage systems. Cloud-based digital signage platforms are now extremely scalable, making them a logical choice for applications requiring content control at remote locations.
Key Players Profiled in the Digital Signage System Market:
- Cisco Systems, Inc.
- Samsung Electronics Co. Ltd.
- NEC Display Solutions, Ltd.
- Broad Sign International, Inc.
- Panasonic Corporation
- Smart Digital Signage Inc.
- Out Front Digital Communications
- Israk Technology
- Net Display Systems PADS
- WinMate Communication Inc.
- Visix, Inc.
- Corum Digital Corporation
- Almo Professional A/V
- ADFLOW Networks
- Mermaid vTouch Pro
Recent Developments by the Market Players
- Dirty Dough Company teamed up with Hughes Network Systems in June 2023 to incorporate promotional displays and employee communication screens in their locations. The digital signage network and content management systems were integrated to control the content across several screens in the corporation remotely.
- The unveiling of Panasonic Corporation’s transparent OLED concept display was unveiled at the lifestyle expo, Salone del Mobile, in April 2019. This new display created by Panasonic Design Kyoto and Daniel Rybakken is expected to change how viewers interact with digital signage systems.
- Transparent OLED Touch Signage is the new touchscreen version of LG Electronics Comany’s Transparent OLED display. This brand-new signage display system with interactive OLED technology was made available in April 2020.
Restraints
While the digital signage system market is poised for substantial growth, it is not without its challenges. Some of the restraints include the need for businesses to adapt to evolving technology, navigate potential security concerns, and effectively manage the massive influx of data that accompanies digital signage systems.
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Digital Signage System Market Segmentation:
By Technology:
- LCD or Plasma
- OLED and LED Display Technology
By Software:
- Content Management Software
- Distribution
- Scheduling Software
By Type:
- Indoor
- Outdoor
By Application:
- Corporate and Commercial Sector
- Manufacturing
- Educational Institutes
- Government
- Banking and Financial Institutes
- Transportation
- Retail and Wholesale
- Media and Entertainment
- Healthcare
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa (MEA)
About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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