Digital Signage Market Set to Reach $27.3 billion by 2029 at a CAGR of 6.3%

(IT-NEWSWIRE.COM, July 24, 2024 ) The global digital signage market is projected to grow from USD 20.1 billion in 2024 to USD 27.3 billion by 2029, registering a CAGR of 6.3% during the forecast period. The growing adoption of digital signage in commercial applications, especially in retail sector coupled with increasing demand for advanced resolution displays such as 4K and 8K displays is propelling the overall digital signage market.

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Some of the conventional revenue sources for players in the digital signage market includes LCD displays, HD displays and general-purpose Information displays. However, in recent years, continuous technological improvements related to displays and display-related devices have enabled manufacturers to offer displays with enhanced color accuracy, higher resolution, and superior contrast. Few of the major technological advancements related to the digital signage market include system-on-chip (SoC) displays, interactive displays, 8K displays, micro-LED displays. These displays are also being integrated with novel technologies such as artificial intelligence (Al) in order to provide improved efficiency, color accuracy, and brightness. The emergence of upcoming technologies is also creating new application areas for digital signage. As a result, market participants supplying digital signage solutions will have more potential to grow during the next five years.

Video walls are projected to expand at the highest CAGR during between 2024 and 2029. This growth can be attributed to the rising use of video walls for commercial and infrastructural applications. Additionally, the declining prices of displays have made video wall displays more affordable. Furthermore, market players are offering video walls that offer high resolutions with slimmer bezels. As a result, signs displays are widely employed in a variety of industries, such as retail, sports, and entertainment.

In recent years, digital signage has become increasingly popular in infrastructure applications such as transportation, sports, and entertainment. Customers can use digital signage displays, such as self-service kiosks, to make travel reservations, check ticket pricing, and monitor real-time rail and flight arrival and departure times. In addition, these displays are employed for navigation and wayfinding in public spaces. The growing requirement to provide clients with real-time travel information is a primary driver of the digital signage market for transportation applications. Furthermore, the growing number of sporting events throughout the world is predicted to drive up the usage of digital signage for infrastructure applications.

Key Market Players:

Some of the leading players in the digital signage market include Samsung Electronics Co., Ltd. (South Korea), LG Electronics (South Korea), Sharp NEC Display Solutions, Ltd. (Japan), LEYARD (China), and Sony Group Corporation (Japan). These companies not only offer a broad product line, but also a strong regional presence. These firms can focus on building advanced and innovative digital signage displays owing to the introduction of new application areas for digital signage.

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Digital Signage Market Set to Reach $27.3 billion by 2029 at a CAGR of 6.3%