Allied Market Research published a report that looks at the current state of the digital signage market and makes several forecasts of where it’s going. Well, the future looks bright. The market is projected to reach $50.6 billion by 2032. Read on to learn more.
What happened: Allied Market Research, a firm specializing in market research, consulting, and advisory has just published its brand new report about the state of the digital signage market.
The title of the report is akin to the Welsh town with the longest name in the world and reads “Digital Signage Market Size, Share, Competitive Landscape and Trend Analysis Report by Offering (Hardware, Software, Service), by Product (Single Screen Display, Video wall, Kiosk), by Location (Indoor, Outdoor), by End User (Retail, Education, Healthcare, Corporate, Stadiums, Government, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032.” Allied Market Research tried to cover everything, weren’t they? And there are some really interesting stats inside.
The document states that the size of the digital signage market will double from $23.6 Billion in 2022 to a whopping $50.6 Billion.
CAGR is set to be at 8%.
But that’s not all, Allied Market Research distinguished key factors that will shape the development of the digital signage market and they are the following:
– the hardware segment is set to retain its leadership in the industry
– kiosks had the highest market share in 2022 and will continue to dominate (with a CAGR of 8.99% from 2023 to 2032)
– the outdoor segment is projected to manifest the highest CAGR of 8.59% from 2023 to 2032
– North America was the market with the highest share in terms of revenue in 2022 and it will continue to be that from 2023 to 2032
– while the Covid pandemic slowed down the economy and broke the supply chains, the market is going to gradually recover by 2032
In other words, it’s growth and growth again. Digital signage is having its moment under the sun at the moment and the new technology like AI, VR, AR, and holograms are just making the market more attractive.
Be sure to check out our article about the Digital Signage Trends 2024: Challenges and Opportunities
