Digital Signage Market Size
The global digital signage market size was estimated at USD 26.76 billion(R50755023000,00) in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 8.1% from 2024 to 2030. This market growth is accredited to the increasing demand for the digitised promotion of products and services to attract the attention of the target audience in an effective manner. Furthermore, the demand for 4K digitised sign displays (digital signage displays) with embedded software and media player is rising as it offers customers an affordable Ultra HD digital signage solution, which is also expected to drive the demand. The evolution of innovative products, such as home monitoring systems, leak detector systems, and so on, along with complicated monetary products, such as forex cards, that need informative and succinct advertisement content are some of the factors that are predicted to drive the product demand. (xv)
Moreover, there is a rising demand for adopting advanced products that require digitised information management and guidance that can be accessed from remote locations. This is one of the key drivers anticipated to drive the global industry during the forecast period. Digital signage boards offer the necessary quality information to a large number of viewers by utilising large display screens across the location with a concentrated target audience. With digital signage display technology, information is provided in a digitised format that includes motion and pictures to attract customers with more impact as compared to the traditional modes of reaching out to customers. In addition, the integration of biometric technology with modern digitised signs has developed products, such as track heat paths and gaze tracking. (xvi)
All these factors are expected to catalyse the overall industry growth. With the advancement in display technologies, the evolution of LCD, LED, UHD, OLED, and Super AMOLED is further strengthening the industry growth. These technologies have led to the enhancement of the quality of advertisement content, thus creating a favourable impact on the target audience. The adoption of such technologies by digital poster providers is anticipated to boost overall industry growth. (xvii)