DUBLIN--(BUSINESS WIRE)--The "Global Digital Signage Market with COVID-19 Impact Analysis by Offering (Hardware, Software, Services), Product, Display Size, Installation Location, Application (Retail, Healthcare, Hospitality, BFSI, Education), and Geography - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global digital signage market is estimated at USD 16.3 billion in 2021 and is projected to reach USD 27.8 billion by 2026, rising at a CAGR of 11.2% during the forecast period.

The market has a promising growth potential due to several factors, including the ongoing innovations in display technologies such as OLED, electronic paper display (EPD), and quantum dot LED (QLED) displays, ongoing disruption in retail sector through digital transformation of retail stores into smart stores, and the increasing demand for cloud-based software with dynamic content creation.

Software licenses can be purchased and upgraded at regular intervals - an advantage for businesses - which is projected to accelerate the market growth

The software segment is projected to grow at the highest CAGR from 2021 to 2026 for digital signage market, by offering. The higher demand for digital signage software can be attributed to various benefits offered by it, including content management of various digital screens, demand for cloud-based signage solutions, along with the low purchasing frequency of hardware devices due to their long operational life. Moreover, software licenses can be purchased and upgraded at regular intervals - an advantage for businesses - which is projected to accelerate the market growth during the forecast period.

Commercial segment is estimated to hold largest market share in 2026

The commercial segment for digital signage market is estimated to hold largest market share in 2026, by application. The growing adoption of digital signage products for advertising and content delivery to increase the customer base and enhance consumer satisfaction in the retail, hospitality, corporate and broadcast, healthcare, and government sectors is expected to fuel the growth of the digital signage market for commercial application. Also, the increase in the penetration of digital technologies in the retail and hospitality sectors is expected to support the market growth during the review period.

APAC is projected to become the largest geographical market by 2026

APAC is projected to register largest market size of digital signage market by 2026. The increasing integration of the Internet of Things (IoT) and artificial intelligence (AI) into display products, which enable digital transformation across various applications such as commercial, institutional, infrastructure, and industrial, has fueled the demand for digital signage in the region. Additionally, the high economic growth, rising consumerism, changing lifestyles, increasing disposable income, technological advancements, and expanding retail space have accelerated the adoption of strong and reliable advertising media in the countries of the region, which is fueling the demand for digital signage solutions for various indoor and outdoor locations.

Market Dynamics

Drivers

• Increasing Adoption of Digital Signage in Commercial Applications
• Ongoing Technological Advancements in Displays
• Surging Demand for 4K and 8K Resolution Displays
• Increasing Infrastructure Developments in Emerging Countries

Restraints

• Prevailing Trends of Online Advertising and Broadcasting Further Triggered by COVID-19

Opportunities

• Rising Demand for Smart Digital Signage Triggered by Spread of COVID-19
• Ongoing Disruption in Retail Sector Through Digital Transformation of Retail Stores into Smart Stores
• Growing Demand for Contactless Engagement in COVID-19 Era
• Increasing Adoption of Cloud-Based Digital Signage Solutions by Businesses During COVID-19

Challenges

• Developing Robust Digital Signage Suitable for Harsh Environmental Conditions
• Prevailing Security Issues Associated with Digital Signage

Companies Mentioned

• AU Optronics
• BARCO
• BenQ Corporation
• BrightSign, LLC
• Christie Digital Systems
• Daktronics
• Delta Electronics
• E Ink Holdings
• Exceptional 3D
• Intuiface
• Keywest Technology
• Leyard Optoelectronic
• LG Electronics
• Omnivex Corporation
• Panasonic Corporation
• Samsung Electronics
• Shanghai Goodview Electronics
• Sharp Corporation
• Sony Corporation
• Stratacache

For more information about this report visit https://www.researchandmarkets.com/r/f9bxkv

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