Digital Signage Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Solutions (Hardware, Software, Services), By Industry Vertical (Retail, Government, Transportation and Logistics, Healthcare and Pharmaceutical, Media and Entertainment, Education, Hospitality and Leisure, Others), And By Geography - Forecasts From 2021 To 2026

The Digital Signage market is expected to grow at a compound annual growth rate of 11.67% over the forecast period to reach a market size of US$11.372 billion in 2026, from US$5.250 billion in 2019. 

Digital signage has been called and known as a sub-segment of signage. It usually uses technologies such as projectors, LED, and LCD to show content like digital information, streaming media, videos, and images. Digital signage is usually found in various types of public areas, such as corporate buildings, restaurants, hotels, stadiums, museums, retail stores, and others. Companies, institutions, and other relative sources have been using digital signage for advertisement, social causes, and other related causes. Moreover, with the growth of social media, the market is expected to grow at a considerable rate.

Latest Developments

Major players have been making significant developments in the market.

• For instance, in October 2021, Velocity MSC, one of the major players in the market, announced that it would partner with G6 Hospitality LLC, intending to install digital signage within the lobbies of around 110 locations, and have been aiming to enhance and expand this novel opportunity to franchises. The novel installation would broaden and enlarge Velocity's DOOH media offerings.
• In September 2021, Peerless-AV, a key producer of AV solutions, announced the launch of its upgraded outdoor digital menu boards, which had been intended to support 55-inch outdoor commercial display brands. The outdoor digital signage display models on the driveway would include Samsung OHF series displays, Peerless-AV Xtreme High Bright Outdoor Displays, and LG XE4F-M series high brightness outdoor displays. These developments are expected to play a major and key role in the market growth, in the coming years.
• In September 2021, Maxhub, one of the key firms, announced the launch of a novel GH31 and m27 series of custom LED displays for digital signage applications. The company had stated that these displays had been designed and developed to be combined and inserted into virtual architectural designs, in specific landscape orientation.

Increasing usage by food & beverage companies

The market is expected to surge in the coming years, due to the increasing usage of digital signage for advertisement and other related purposes by food and beverage companies, worldwide. Restaurants, food outlets, and others have been using digital signage to attract their customers. They are investing a significant sum of capital in digital advertising to enhance and improve their branding and marketing strategy. Major companies have been making significant developments in the market. For instance, Pickel, one of the imperative players in the market, has been offering digital signage software solutions for restaurants. The company offers digital menu boards, also show live queue status, and market users promotions and offers effectively. Other players have also been making significant developments in the market. For instance, Novisign, one of the major players, has been offering digital menu board software for restaurants and food outlets. These trends and developments are expected to be an imperative factor in the market growth, in the coming years.

Global Digital Signage Market Scope:

Segmentation:

• By Solutions
  • Hardware
    • LCD Display
    • LED Display
    • OLED Display
    • Projectors
    • Others
  • Software
  • Services
    • Maintenance and Support Services
    • Installation Services
    • Others
• By End User Industry
  • Retail
  • Government
  • Transportation & Logistics
  • Healthcare & Pharmaceutical
  • Media & Entertainment
  • Education
  • Hospitality & Leisure
  • Others
• By Geography
  • North America
    • USA
    • Canadá
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Thailand
    • Taiwan
    • Indonesia
    • Others

Frequently Asked Questions (FAQs)

Q1. What is the size of the global digital signage market?
A1. Digital Signage Market was valued at US$5.250 billion in the year 2019.

Q2. What will be the digital signage market size by 2026?
A2. The digital signage market is expected to reach a total market size of US$11.372 billion by 2026.

Q3. What are the growth prospects for the digital signage market?
A3. The global digital signage market is expected to grow at a CAGR of 11.67% over the forecast period.

Q4. What factors are anticipated to drive the digital signage market growth?
A4. Growing demand for digital signage solutions across different industry verticals is expected to bolster the digital signage market growth in the upcoming years.

Q5. Who are the major players in the digital signage market?
A5. Prominent/major key market players in the digital signage market include Samsung, Panasonic Corporation, Sharp Corporation, and Sony Corporation among others.

Samsung

Panasonic Corporation

Sharp Corporation

Sony Corporation

BrightSign LLC

LG Electronics

Microsoft Corporation

Intel Corporation

KeyWest Technology Inc.

Omnivex Corporation