Digital Signage Market Poised for Remarkable Growth, Anticipated to Reach USD 26.1 Billion by 2028, Reports MarketsandMarkets

MarketsandMarkets, a prominent market research and consulting company, has released a comprehensive report forecasting impressive growth in the global digital signage market. According to the report, the market is projected to grow from USD 18.7 billion in 2023 to USD 26.1 billion by 2028, representing a robust compound annual growth rate (CAGR) of 6.9%.

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Key Segments:

The digital signage market is divided into several key segments as detailed in the report:
By Offering: The market encompasses various offerings, including hardware (displays, media players, projectors, etc.), software, and services (installation, content management, and maintenance).

By Product: Segmentation by product includes digital signs, kiosks, billboards, and digital menu boards, showcasing the diverse applications of digital signage across industries.

By Location: The report highlights the significance of the placement of digital signage in various locations, including in-store, out-of-home (OOH), and transportation.

By Application: Segmentation by application explores the use of digital signage in advertising, wayfinding, information display, and other sectors.

Growth Drivers:

The digital signage market is primed for substantial growth due to several driving factors:

Increasing Digital Advertising: The surge in digital advertising and marketing efforts across industries is fostering the demand for digital signage solutions, offering dynamic and engaging content delivery.

Interactive and Touchscreen Displays: The growing adoption of interactive and touchscreen digital signage is revolutionizing customer engagement and creating new opportunities for businesses.

Cost-Effective and Real-Time Updates: Digital signage allows for cost-effective content updates and real-time information dissemination, making it an attractive choice for businesses seeking agility in their messaging.

Challenges:

Despite the promising growth, the digital signage market faces certain challenges:

Initial Investment: The setup and deployment of digital signage systems can entail significant initial investment costs, potentially posing a barrier to entry for some businesses.

Content Management: Effective content management can be a complex task, requiring businesses to have a clear strategy for creating and updating content.

Opportunities:

The market offers exciting opportunities:
Emerging Markets: Emerging economies are increasingly adopting digital signage for advertising and information purposes, creating a vast untapped market with significant growth potential.

Integration with IoT and AI: The integration of digital signage with Internet of Things (IoT) and Artificial Intelligence (AI) technologies is opening up new avenues for personalized and data-driven content delivery.

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Key Players:

The digital signage market boasts a competitive landscape, with several key players leading the way. Some of the notable companies in the market, as highlighted in the report, include:

• Samsung Electronics Co., Ltd.
• LG Electronics Inc.
• NEC Corporation
• Sony Corporation
• Panasonic Corporation
• Sharp Corporation
• Adflow Networks
• Daktronics, Inc.
• Planar Systems, Inc.
• Intel Corporation

This comprehensive report from MarketsandMarkets provides valuable insights for stakeholders, investors, and decision-makers in the digital signage market, enabling them to make informed strategic decisions.

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MarketsandMarkets™ INC.
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Email: sales@marketsandmarkets.com

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This release was published on openPR.