Digital Signage Industry Report by Regional Category Spend, Price Analysis, Key Demand, and Price Indicators, and Best Buying Practices

The global Digital Signage market reached a value of about USD 22.58 billion in 2021. The industry is projected to grow at a CAGR of around 8% in the forecast period of 2022-2027 to reach a value of about USD 35.64 billion by 2027.

The global Digital Signage industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The market is being driven by the expanding usage of digital signage in commercial applications, increasing infrastructural activities, and continuous technical breakthroughs in displays. In the industry report, the key demand indicator is the highest category spender by region—Asia Pacific.

Industry Definition and Segmentation

Digital signage refers to digital signboards, billboards, and other similar display devices used to show visual information in public spaces, usually outdoors. It has a wide range of applications and may be utilised at several consumer touchpoints. A company can customise digital signage to match its specific requirements. It shows digital images, video, websites, weather data, restaurant menus, and text using technologies such LCD, LED, projection, and e-paper. They are used to show text, animation, or video messages for advertising, information, entertainment, and retailing to targeted audiences over a centrally managed and individually addressable network of electronic displays. The Digital Signage industry report comprises segments by region (North America, Europe, Asia Pacific, the Middle East, Africa, and South America).

The Asia Pacific Region is Driving the Growth of the Industry

The Asia Pacific region holds a significant share in the market due to the lower display panel costs and more financing for infrastructural development. Due to the rising use and penetration of digital technologies and advanced audio-visual systems coupled with next-generation technologies, such as AI and AR, the market in APAC has undergone substantial development. In addition, the need for a better visual experience and the growth of the educational industry may accelerate the technology's acceptance.

The market is witnessing growth because it is a cost-effective means of advertising and branding any product or service paired with increased consumer experience. The expansion of the digital signage market trends includes an increase in demand for bright and energy-efficient display panels, fast digitisation, and a drop in demand for traditional billboards. The need for bright and power-efficient display panels, rapid digitisation, a fall in demand for conventional billboards, and increased demand for 4K and Ultra-HD devices are all key trends influencing the digital signage business. Furthermore, digital signage consumes less electricity compared to other technologies such as LEDs and OLEDs. As a result, the need for brighter, more energy-efficient devices is increasing, propelling the digital signage industry.

Because of the proliferation of user interaction devices and applications, deploying effective advertising systems in today's corporate environment is critical. The application of the product in commercial locations such as retail stores, hospitality centres, and other public areas for advertising and presenting product information, instructions, directions, amusing material, among others, is furthering the market's growth. Furthermore, digital signage boards, also known as Flight Information Display Systems, are widely employed as arrival and departure boards in airports (FIDS). Also, there is a growing need for innovative items that require digital data administration and assistance that can be accessed from afar. More prospects in this industry are created by the expansion of transportation networks, public infrastructure, and new commercial buildings, particularly in developing nations. Furthermore, the market's growth is aided by the rise of government entities and the fast-growing educational sector.

However, factors such as the use of widescreen alternatives like projectors, lack of standard policies and power issues, the increase in internet penetration that disrupts advertising companies that target the audience through online promotions, etc., are hindering the industry's expansion.

Best Procurement Practices

The global Digital Signage industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global Digital Signage regions, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.

Category Management Studies

There are three types of elements that go into making a digital sign. Hardware refers to the essential components required to display and play a digital sign, and it includes High-definition displays, mounting supplies, media players, cabling, and internet connectivity. The stuff presented on the screen is content and creative; it includes Scripts, video and audio samples, graphic design, animation, and text. Third-Party and Bonus Elements: This category covers third-party content. The company's content staff doesn't always develop it. Private label TV channels, custom-selected programmes, bespoke content wrappers, social network feeds, weather feeds, and news feeds are all part of the package.

Technological Advancements in the Technology, Further Driving the Procurement of Digital Signage

The growing innovations in the product are propelling the industry. Various technical breakthroughs, such as the integration of biometric technology with digital signage technologies, contribute to the industry's growth. Modern product variations are integrated with gaze trackers and heat path trackers, which detect the place drawing the most customers, allowing businesses to watch consumer behaviour and obtain valuable data. Like advancements in LCD/LED technology and increased spending on brand promotions and commercials, other reasons are expected to fuel the industry. The development of interactive displays to increase public participation has resulted in a surge in demand for digitalised signage. The introduction of touch screen technology is likely to bring up new opportunities. Advertisers may improve the customer and tourist experience by gathering individualised information, receiving feedback, and developing strategies to provide better services using AI-based signage.

The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.

Key Industry Players Mentioned in the Digital Signage Industry Report

• Colite International, LTD
• APCO Worldwide
• Exceptional 3D, Inc.
• Priority Inc.
• The International Sign Alliance

Market Landscape

To strengthen their position in the digital signage market, the leading key players have implemented methods such as product launches, expansion, and partnerships. These organisations have used organic and inorganic growth techniques such as product launches and development, collaborations, contracts, expansions, and acquisitions to increase their market position. The launch of innovative solutions is expected to move the firm forward in the future. The corporations are also attempting to produce premium-quality and high-value items at an affordable price to achieve a competitive advantage in the price-sensitive market through R&D efforts and ongoing developments.

Key Initiatives by Companies

• BrightSign, LLC, the global market leader in digital signage media players, announced its partnership with Nexmosphere technology in May 2021 to assist entice customers back into brick-and-mortar retail locations when they reopen. Customers will be able to engage with the solution using touchless technology and sensors, resulting in engaging, memorable, and sanitary shopping experiences.
• Sharp NEC Display Solutions announced on October 4, 2021, that the UGC Group in France had chosen its RB laser technology projectors for use in four new cinemas. Sharp/cinema NEC's systems will provide unparalleled brightness and a rich colour range to the theatres.