The digital signage market is booming, with a value of $23.6 billion in 2022 set to reach $50.6 billion by 2032. This growth is driven by factors such as the decline in display costs, improved customer experience, and technological advancements like near-field communication and touchscreen technology. However, challenges such as the deployment of widescreen alternatives and power issues are hindering market growth.
Key players in the digital signage industry are adopting various strategies to influence the market, including product launches, collaborations, and partnerships. The market is segmented based on offerings, products, locations, end users, and regions. Hardware, software, and services are the main offerings, with hardware dominating the market in 2022. Product segments include single-screen displays, video walls, and kiosks, with the kiosk segment leading the market.
In terms of location, indoor digital signage dominated the market demand in 2022, but the outdoor segment is expected to grow significantly by 2032. End users of digital signage include retail, education, healthcare, corporate, stadiums, government, and others. The healthcare segment is expected to show significant growth by 2032.
Regions analyzed for digital signage market trends include North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the highest revenue in 2022, with a CAGR of 7.7% expected through 2032.
Overall, the digital signage market is on a steady growth trajectory, driven by technological advancements and increased demand for bright, power-efficient display panels. With key players innovating and expanding their offerings, the future looks bright for the digital signage industry.