Global Digital Signage market projected to reach $32.12 bn by 2026

19 February 2021: Digital signage is an emerging technology, which offers high image resolution and better picture quality over traditional displays. It offers enhanced contrast over the traditional OLED and LED display technologies. Electronic signage is found to be a cost-effective medium of promoting and branding any product or service; this advantage drives the market for electronic signage. So, the global digital signage market size is expected to reach $32.12 billion by 2026, growing at a CAGR of 8.1% from 2019 to 2026, according to a recent survey by AlliedMarketResearch.com.

Rise in demand for bright and power-efficient display panels and rapid digitalization and decline in demand for traditional billboards are the factors that drive the growth of the digital signage market trends. However, deployment of widescreen alternatives such as projectors and screenless displays and lack of standard policy and power problems hamper the digital signage market growth to a certain extent. Furthermore, emerging display technology such as micro LED and quantum dots and increase in preference of electronic giants toward large-screen displays offer lucrative opportunities for the market in the country.

It is classified into single screen display, video wall, and kiosk. Among these products, kiosk segment is anticipated to witness highest growth during forecast period, owing to surge in adoption of digital kiosk in retail industry. The market is categorized into indoor and outdoor. The indoor segment is further categorized into Conference room, Office entrance, Classroom, Park and Others.

The survey also noted that use of traditional billboards has decreased considerably, as they lack variation and incur huge labor cost. Though they still have the capacity to draw large audience, they do not draw the same attention as large screen displays.