Categories: Market Research

Digital Signage Market Key Drivers, Trends, Growth, Outlook 2024-2033

The Digital Signage Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Digital Signage Global Market Report 2024, The digital signage market size has grown strongly in recent years. It will grow from $20.58 billion in 2023 to $22.15 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to rise in retail and advertising expenditure, enhanced customer experience, transition from traditional to digital displays, cost-effective communication.

The digital signage market size is expected to see strong growth in the next few years. It will grow to $30.56 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to emergence of smart cities, demand for real-time information, focus on employee communication, expansion in transportation and hospitality sectors. Major trends in the forecast period include integration with mobile devices, augmented reality (AR) and virtual reality (VR) integration, touchless and gesture-based interfaces, personalized content through data integration, multi-channel integration.

The increasing demand for 4K and 8K resolution displays is significantly driving the growth of the digital signage market. The resolution is a measurement of pixels across the screen in both horizontal and vertical directions. The desire for greater resolution, larger-sized TVs with modern display technology that gives realistic images with better image quality and increased viewing experience is driving demand for 4K and 8K resolution screens. The display screen’s display resolution produces a crisp and easy-to-read image. In stadiums, retail stores, museum theatres, and planetariums, 4K and 8K resolution displays are constructed with ideal viewing distances for varied resolutions in view. For instance, according to Consumer Technology Association report, in 2021, 4K ultra-high definition (UHD) sets accounted for 25 million units, up 12% from 2019. Therefore, the increasing demand for 4K and 8K resolution displays is expected to propel the growth of the digital signage market going forward.

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The digital signage market covered in this report is segmented –

1) By Product: Standalone Display, Video Wall

2) By Offering: Hardware, Software, Services

3) By Location: Indoor, Outdoor

4) By End User: Retail, Education, Healthcare, Corporate, Stadium, Government, Other End Users

Major companies operating in the digital signage market are focusing on developing advanced technologies such as cloud based digital signage solutions to strengthen their position in the market. Cloud-based digital signage solutions refer to a system where the software for managing and deploying digital content resides on remote servers accessed over the internet, rather than being installed on local hardware at each display location. For instance, in June 2023, MuxLab inc., a Canada-based designs and manufactures signal distribution solutions, Introduces its Cloud Digital Signage Solution, MuxLab’s DigiSign Cloud is a transformative cloud-based digital signage solution. It enables seamless content management, dynamic creation, and real-time updates across diverse locations. Paired with the DigiSign Android Signage Player, it offers scalability, user-friendly interfaces, and empowers businesses to enhance brand communication with impactful visual displays.

The digital signage market report table of contents includes: