Digital Signage Market – Companies, Trends and Forecast to 2028
Chicago, May 20, 2024 (GLOBE NEWSWIRE) — The Global Digital Signage Market Size is expected to reach USD 26.1 billion by 2028 from USD 18.7 billion in 2023, at a CAGR of 6.9% from 2023 to 2028.Growing adoption of digital signage in commercial applications, increasing demand for digital signage in infrastructural applications, surging demand for 4K and 8K displays and constantly growing technological advancements related to displays are the major factors driving the growth of the digital signage industry.
To know about the assumptions considered for the study
Major Digital Signage companies include:
- Samsung Electronics Co., Ltd. (South Korea),
- LG Electronics (South Korea),
- Sharp NEC Display Solutions, Ltd. (Japan),
- Leyard Optoelectronic Co., ltd. (China),
- Sony Group Corporation (Japan).
Digital Signage Market Segmentation:
By Display Size
- Less than 32 Inches
- Between 32 and 52 Inches
- More than 52 Inches
By Application
- Commercial
- Infrastructural
- Institutional
- Industrial
By Enterprise Size
- Small Office/Home Office (SOHO)
- Small & Medium-sized Enterprises (SMEs)
- Large Enterprises (LEs)
By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
Market Dynamics:
Opportunity: Growing demand for digital signage in the industrial sector
In the industrial sector, digital signage is used to improve communication, safety, and productivity. It is used in manufacturing plants to display production metrics, real-time performance data and safety information. Digital signage also informs the employees about the production targets, quality standards, and potential hazards. It also assists in warehouse management by screening inventory levels, order status, and picking instructions. Digital signage also improves operational efficiency, reduces errors, and streamlines logistics processes. Moreover, digital signage also notifies about emergencies, to visually represent complex processes, workflow diagrams or assembly line instructions, to display real-time quality control data which includes defect rates, rejects and inspection results. Digital signage is also used for training and educating employees to ensure consistent dissemination of information. It is also used to present key performance indicators (KPIs) and performance metrics to motivate employees and track progress. Therefore, digital signage is used in the industrial sector to benefit the employees and the work performance. The growing adoption of digital signage in the industrial sector is expected to create growth opportunities for market players.
Challenge: Security issues associated with digital signage
Digital signage systems are prone to security risks such as hacking and malware attacks. Users of digital signage fall to phishing attacks or social engineering tactics, as they use weak passwords to the networks or connect to unsecured networks through which hackers can gain access to the network and the information displayed on the screens. Moreover, digital signage is also prone to malware attacks which can spread through email attachments, USB drivers or other channels. If unauthorized access is given into the digital signage networks, it can lead to unauthorized content being displayed on screens. Increasing number of such security concerns are expected to adversely impact the market growth of digital signage.
Major Drivers and Opportunities
Increasing use of digital signage in commercial applications, growing demand for 4K and 8K displays, and constantly growing technological advancements related to displays are the major factors driving the market growth for digital signage globally. Moreover, increasing infrastructure developments in emerging countries and growing adoption of digital signage for industrial applications are expected to provide growth opportunities for market players in the next 5 years.
Industry Trends and Insights:
- In March 2023, Samsung Electronics Co., Ltd. launched an interactive display with software solution for the education sector with enhanced usability and connectivity features.
- In February 2023, LG Electronics announced the launch of its new LED screen, Miraclass which is ideal for theater operators eager to present moviegoers with new, premium services and immersive viewing experiences.
- In October 2022, Sony Group Corporation announced the launch of VPL-PHZ61 and VPL-PHZ51 laser projectors that provide accurate colors and optimal image quality, even in brightly lit classrooms and conference rooms.
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