Global Digital Signage Industry Report: Analysis and Forecast 2022-2027
Regional Category Spend, Primary Demand, Price Analysis and Indicators, and Best Buying Practices of the Digital Signage Industry Report
The global Digital Signage industry was valued to be worth 22.38 billion in 2021. In the projection period of 2022-2027, the industry is expected to grow at a CAGR of around 8 percent, achieving a value of around USD 35.64 billion by 2027.
The Digital Signage industry report broadly studies the industry, together with important segments, movements, drivers, constraints, the competitive landscape, and other critical market features. The economy is largely propelled by the escalating use of digital signs in commercial uses, road infrastructure expenditures, and continuing display innovative solutions. The Asia Pacific the biggest category spender by region which is impelling the demand for the Digital Signage industry.
Digital Signage: Industry Definition and Segmentation
Digital signage includes banners, hoardings, and other associated interactive whiteboards, which are used to present visual data from multiple settings, usually overseas. It could be used at a range of customer touchpoints and has many uses. Technology can be customized or adapted to accommodate a firm’s specific requirements. It uses LCD, LED, projection, and e-paper to display digital images, video, websites, weather data, restaurant menus, and text. They are intended to provide text, graphics, or voice messages to the intended audience for advertising, information, entertainment, and commerce via a centrally controlled and separately programmable array of display screens.
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The global Digital Signage industry report comprises segments:
- By region: North America, Europe, Asia Pacific, the Middle East, Africa, and South America.
Snapshot of the Report
The regional markets for the industry can be divided into North America, Europe, Asia Pacific, the Middle East, Africa, and South America.
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The sector is being propelled by increasing product advancements. The industry’s growth is aided by several technological breakthroughs, such as the integration of biometric technology with digital signage technologies. Modern product versions include gaze trackers and heat path trackers, which detect the location that attracts the most customers, allowing businesses to observe client behaviour and collect useful data. Other factors are likely to propel the business, including developments in LCD/LED technology and greater expenditure on brand promotions and ads. Demand for digitalized signage has increased because of the introduction of interactive displays to enhance audience participation. Touch screen technology will almost certainly open new possibilities.
Category Insight by Region
Due to reduced display panel costs and increased funding for infrastructure development, the Asia Pacific region has a substantial portion of the industry. The market in APAC has grown significantly because of the increased use and penetration of digital technologies and advanced audio-visual systems, as well as next-generation technologies like AI and AR. Furthermore, the demand for a superior visual experience as well as the expansion of the educational business may hasten the technology’s adoption.
Because it is a cost-effective way of advertising and branding any product or service while also improving the consumer experience, the industry is growing. The demand for bright and energy-efficient display panels is increasing, as is the demand for fast digitisation, while the demand for traditional billboards is decreasing. The demand for bright and energy-efficient display panels, increasing digitalisation, a decline in demand for traditional billboards, and an increase in demand for 4K and Ultra-HD devices are all significant developments driving the digital signage industry. Furthermore, when compared to other technologies such as LEDs and OLEDs, digital signage uses less energy. As a result, there is a growing demand for brighter, more energy-efficient devices, moving the digital signage sector forward.
In today’s business context, establishing successful advertising systems is crucial due to the expansion of user engagement devices and applications. The device’s use in commercial settings such as retail stores, hospitality centres, and other public areas for advertising and providing product information, instructions, directions, and funny material, among other things, is propelling the market forward. In addition, digital signage boards, also known as Flight Information Display Systems, are commonly used in airports as arrival and departure boards (FIDS). In addition, there is an increasing need for creative things that require digital data management and help that can be accessed from a distance.
Best Procurement Practices
The global digital signage industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by the major digital signage products across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.
Category Management Studies
A digital sign is made up of three different types of components. High-definition monitors, mounting supplies, media players, cabling, and internet access are among the basic components necessary to show and play a digital sign. Scripts, video and audio samples, graphic design, animation, and text are among the content and creative items displayed on the screen. Bonus and Third-Party Elements: Third-party content is included in this category. It is not necessarily developed by the company’s content team. The bundle includes private label TV channels, custom-selected programmes, unique content wrappers, social network feeds, weather feeds, and news feeds.
Key Supplier Profiles included in the Global Digital Signage Industry Report
The key market players are Colite International, LTD, APCO Worldwide, Exceptional 3D, Inc., Priority Inc., and The International Sign Alliance.
The report covers capacity additions, plant shutdowns, investments/divestments, mergers and acquisitions, and other latest developments in the market.
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