Digital Signage Market share, growth development worth $27.8 Billion USD at a (CAGR) of 11.2%
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The key drivers fueling the growth of this market include the growing adoption of digital signage in commercial applications, increasing infrastructure developments in emerging countries, surging demand for 4K & 8K resolution displays, and ongoing technological advancements in displays.
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Key Findings of the Global Digital Signage Market:
1. Sharp launched the new massive 8K Ultra-HD professional LCD. The new display packs in 33 million pixels and employs a wide color gamut color filter and optimized LED backlight phosphors. This helps the display to deliver brilliant clarity and reproduce improved gradations of red, blue, and green in the pixels.
2. Panasonic commercially launched its new transparent OLED display module, which boasts of high image visibility. The 55-inch display module uses a self-illuminating transparent OLED display panel that does not require a backlight.
3. BrightSign announced its partnership with NEC Display Solutions to deliver integrated digital signage solutions for large-format displays. This includes the full range of NEC MultiSync V Series large-format displays integrated with BrightSign OPS digital signage media player.
What are the Driving Factors of Evolution of technologies and consolidation of Digital Signage Market?
The global Digital Signage Market size is expected to grow from USD 16.3 billion in 2021 to USD 27.8 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 11.2% from 2021 to 2026.
The indoor installation segment to hold the largest market share in 2026
Indoor signage has witnessed significant demand in healthcare, education, corporate and broadcast, and retail applications. The demand for indoor signage in these applications mainly stems from the ongoing adoption of immersive and highly interactive display technologies.
Additionally, the rapid adoption of self-service kiosks, which allow customers in retail applications to browse digital products and make purchases, is further driving the growth of the market for indoor digital signage. Indoor digital signage products, such as interactive digital screens, influence customers’ purchase decisions. Meanwhile, the usage of indoor digital menu boards helps improve operational efficiency and customer experience. Samsung, NEC, and LG are among the major players focusing on a wide range of indoor digital signage applications.
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Digital Signage Marketby Top Companies Profiles:
The software segment to register higher CAGR during the forecast period market growth
The higher frequency of purchases and subscriptions associated with digital signage software due to various useful benefits offered by it complemented with the low purchasing frequency of hardware devices due to their long operational life is another major factor contributing to the growth of the software segment. Software licenses need to be purchased and upgraded at regular intervals, which is further expected to accelerate the market growth of software in coming years.
Major players in the digital signage market are Samsung Electronics (South Korea), LG Electronics (South Korea), Sharp Corporation (Japan), Leyard Optoelectronic (US), Sony Corporation (Japan), Barco (Belgium), Panasonic Corporation (Japan), Shanghai Goodview Electronics (China), AU Optronics (Taiwan), and BrightSign (US). The top players have adopted merger & acquisition, partnership, collaboration, and product launch strategies to grow in the global precision farming market.
Regional Insight by MarketsandmarketsTM Research:
APAC to register higher CAGR during the forecast period
APAC is projected to lead the digital signage market from 2021 to 2026. Increasing adoption of the Internet of Things (IoT) and technologies that enable digital transformation across various sectors such as commercial, institutional, infrastructure, and industrial has fueled the demand for digital signage in APAC. In addition, strong economic growth, rise in consumerism, growth in the standards of living, increase in disposable income, high technological advancements, growth of retail space, and changes in lifestyles have accelerated the adoption of strong and reliable advertising media in the countries of the region.
Regions & Countries Covered:
North America – (U.S., Canada, Mexico)
Europe – (U.K., France, Germany, Italy, Spain, Rest of Europe)
Asia Pacific – (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
Latin America – (Brazil, Argentina, Rest Of Latin America)
The Middle East & Africa – (GCC Countries, South Africa, Rest Of the Middle East & Africa)
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