According to the new market research report on the "Digital Signage Market by Offering (Hardware (Displays, Media Players, Projectors), Software, Services), Product, Application, Vertical (Retail, Transportation & Public Places, Sports & Entertainment, Education), and Geography - Global Forecast to 2024", The digital signage market is expected to grow from USD 20.8 billion in 2019 to USD 29.6 billion by 2024, at a CAGR of 7.3%. Growing technological advancements in display products, increasing adoption of digital signage products in commercial vertical, rising demand for 4K & 8K displays, and increasing infrastructural developments in emerging countries are the major driving factors for the market’s growth during the forecast period.

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Browse 63 market data Tables and 56 Figures spread through 190 Pages and in-depth TOC on "Digital Signage Market"

Key players in the market include Samsung Electronics (South Korea), NEC Corp. (Japan), LG Electronics (South Korea), Sharp (Foxconn) (Japan), Leyard Optoelectronic (Planar) (China), Sony (Japan), AU Optronics (Taiwan), BARCO (Belgium), Panasonic (Japan), Goodview Electronics (China), Scala (US), E Ink Holdings (Taiwan), Omnivex Corporation (Canada), Deepsky Corporation (Hong Kong), Delta Electronics (Taiwan), Exceptional 3D (US), Daktronics (US), Christie Digital Systems (US), Intuiface (France), and BenQ (Taiwan).
Increasing trends of online/broadcast advertisement

Increasing investment in online/broadcast advertisements by the companies may negatively impact the digital signage market growth. This will eventually lead to less requirement of digital signage products for advertisement purposes. Online/broadcast advertisement has impacted the digital signage market for a long time in the past; however, the impact is very low and is expected to be the same during the forecast period. Internet advertising has contributed to significant growth in global ad-spend and has stimulated innovation in the market.
Opportunity: Increasing transition of traditional stores to smart stores in retail

As consumers are demanding connected experiences to meet their changing shopping behaviors, retailers provide real-time insights as well as enhance business efficiency by connecting with customers by displaying the most relevant content in the store with the help of digital signage.

Digital signage helps transform traditional bricks-and-mortar stores into smart stores by delivering targeted promotions, relevant information, enhanced store environment, real-time store data, and other online data. Moreover, many traditional stores are transforming to smart stores to maintain the existing customer base and attract new customers with the help of digital signage and smart signage, thereby creating significant opportunities for digital signage providers in the near future.
Challenge: Developing robust equipment suitable for harsh environmental conditions

Digital signage is used in indoor and outdoor applications. In outdoor applications, signage in the form of kiosks, billboards, and signboards are used. Apart from the rain, snow, dirt, and extreme temperature conditions affect the performance of the digital signage, which is turning out to be a major challenge for signage manufacturers to create a prototype for outdoor applications. The digital signage is required to withstand the harsh environment, which might degrade its functionality. Further, these displays should be designed with a protective coating to protect from physical damages, such as scratches, caused by using hard objects by customers to operate the touch panel on the screen.

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