What Is the Potential Market Growth Rate of the Retail Digital Signage Market?
The retail digital signage market size has grown strongly in recent years. It will grow from $22.38 billion in 2024 to $24.16 billion in 2025 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to growing adoption of digital advertising, increasing demand for in-store customer engagement, rising penetration of high-resolution displays, expanding retail sector, declining hardware costs.
The retail digital signage market size is expected to see strong growth in the next few years. It will grow to $32.81 billion in 2029 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to rising integration of ai and iot in digital signage, growing demand for interactive and touch-based displays, increasing adoption of cloud-based content management systems, expansion of smart retail stores, higher investment in digital marketing strategies. Major trends in the forecast period include advancements in display technology, continuous innovations in interactive signage solutions, rapid developments in ai-driven content automation, research and development in energy-efficient signage, adoption of holographic and transparent displays.
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What Are the Primary Growth Contributors in the Retail Digital Signage Market?
The increasing use of smartphones is anticipated to propel the growth of the retail digital signage market in the coming years. Smartphones are handheld electronic devices that combine mobile phone capabilities with advanced features including internet access, touchscreens, and a variety of applications for communication, entertainment, and productivity. Smartphone usage is rising due to increased internet accessibility, allowing people to stay connected, access information, and use online services conveniently from virtually anywhere. Rising smartphone use supports retail digital signage by enabling quick interactions, like scanning QR codes, to access promotions and product details instantly. For instance, in February 2024, according to a report published by Uswitch Ltd., a UK-based provider of price comparison services, there were 71.8 million mobile connections at the start of 2022 in the UK, which was 4.2 million more than the total population and represented a 3.8% increase, or around 2.6 million more connections than in 2021. By 2025, the UK population is projected to reach 68.3 million, with nearly 95%, or roughly 65 million individuals, expected to be smartphone users. Therefore, the increasing use of smartphones will drive the growth of the retail digital signage market.
What Are the Major Product/Service Segments in the Retail Digital Signage Market?
The retail digital signagemarket covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Deployment: On-Premise, Cloud
3) By Display Type: Light-Emitting Diode, Liquid Crystal Display, Organic Light-emitting Diode, Other Display Types
4) By Location: Indoor, Outdoor
5) By Industry Vertical: Retail, Corporate, Hospitality, Transportation, Education, Healthcare, Sports And Entertainment, Other Industry Verticals
Subsegments:
1) By Hardware: Displays, Media Players, Mounting Equipment, Interactive Kiosks, Digital Posters
2) By Software: Content Management Systems (CMS), Audience Analytics Software, Remote Device Management, Scheduling Software
3) By Services: Installation Services, Maintenance And Support, Content Creation Services, Consulting And Integration Services
What Are the Top Trends Expected to Shape the Retail Digital Signage Market by 2029?
Major companies in the retail digital signage market are focusing on technological innovations, such as interactive touchscreen displays, to enhance customer engagement, streamline in-store experiences, and provide retailers with advanced solutions for personalized content delivery. Interactive touchscreen displays are digital screens that allow consumers to interact with the content by touching it. For instance, in June 2023, ViewSonic Corporation, a US-based electronics company, launched the ViewBoard IFP110, a 110-inch interactive display with 4K UHD resolution designed for large-scale environments such as showrooms, training centers, and museums. It features a 40-point touch, built-in collaboration software, USB-C connectivity, and bezel-free viewing, offering an immersive, all-in-one solution for interactive digital experiences.
Who Are the Prominent Players in theRetail Digital Signage Market?
Major companies operating in the retail digital signage market are Samsung Electronics Co. Ltd., Microsoft Corporation, Sony Corporation, LG Electronics Inc., Intel Corporation, Panasonic Corporation, Cisco Systems Inc., Toshiba Corporation, Sharp Corporation, Koninklijke Philips N.V (Philips), Planar Systems Inc., Elo Touch Solutions, Stratacache Pvt Ltd., Scala Inc., AOPEN Inc., Winmate Inc., BrightSign LLC, Mvix Inc., Omnivex Corporation, Navori Labs, Goodview (CVTE), NEC Display Solutions Ltd., Leyard Optoelectronic Co. Ltd.
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What Are the Opportunities and Challenges for Retail Digital Signage Market Across Regions?
North America was the largest region in the retail digital signage market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the retail digital signage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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