The digital signage market is projected to reach a value of USD 26.1 billion by 2028, reflecting a steady growth rate of 6.9% from 2023. This surge is attributed to several key factors:
- Increased adoption across various sectors: Businesses in both commercial and infrastructural applications are increasingly recognizing the benefits of digital signage. This includes retail stores using displays to enhance customer experience and public spaces leveraging them for informational purposes.
- Demand for high-resolution displays: The market is witnessing a growing preference for 4K and 8K displays, offering sharper visuals and a more impactful experience for viewers.
- Advancements in display technology: The rise of micro-LED and direct-view LED displays is driving market growth. These technologies offer superior brightness, contrast, and viewing angles compared to traditional options.
Hardware to Remain Dominant Segment
Digital signage hardware, encompassing displays, media players, projectors, and mounting solutions, is anticipated to maintain the leading market share throughout the forecast period. The increasing popularity of micro-LED and direct-view LED displays is a significant contributor to this trend.
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Video Walls Witness Fastest Growth
Video walls, which combine multiple display tiles to create large, immersive viewing experiences, are expected to register the highest Compound Annual Growth Rate (CAGR) within the digital signage market. This growth is fueled by declining display prices, making video walls more accessible, and advancements leading to thinner bezels and high-resolution visuals on larger screens.
Asia Pacific Takes the Lead
The Asia Pacific region is poised to witness the fastest growth in the digital signage market. This can be attributed to several factors:
- Established display panel and device manufacturers in the region like Samsung and LG
- Rapid urbanization and increasing digitization efforts
- Growing commercialization of 5G technology
- Availability of a skilled and cost-effective workforce
- Government investments and advancements in infrastructure and retail applications
Key Players in the Market
The report identifies prominent players in the digital signage market, including Samsung, LG, Sharp NEC Display Solutions, Leyard Optoelectronic, Sony, Barco, Panasonic, Shanghai Goodview Electronics Technology, AUO Corporation, and BrightSign.
Capitalize on Growth Opportunities
The digital signage market presents significant business potential. By understanding the market trends and insights offered by analyst reports, companies can develop effective strategies to capture a share of this growing market.
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