by Digital signage finds application across several end use sectors such as retail, transportation, healthcare and corporate offices among others. These systems enable brands and organizations to display specific content such as advertising, information, and notices to attract consumers. The digital displays offer high quality video and graphics along with touchscreen interactivity and remote content management capabilities. In the retail sector, digital signage helps market new products, engage customers, enhance brand image and enable wayfinding. The transportation sector utilizes digital displays at airports, metro and bus stations to provide real time travel updates, schedules and route information. With growing e-commerce and increasing footfall in malls and airports, the demand for interactive digital signage is surging in India. Further, government initiatives to modernize transportation infrastructure will boost uptake in the coming years.
The global India Digital Signage System Market is estimated to be valued at US$ 528.7 million in 2023 and is expected to exhibit a CAGR of 9.1% over the forecast period 2023-2033.
Market key Trends:
One of the key trends in the India digital signage market is the rising popularity of touchscreen and gesture control signage. These interactive digital displays allow users to swipe, tap or use hand gestures to control content. Touchscreens have enormous potential in retail, banking, hospitality and public places. They enhance customer engagement at stores and enable easy information access. Gesture recognition technology is gaining ground as it provides a more natural and simplified interface. Leading players are focusing on innovative interactive signage solutions integrated with AI and IoT. For example, touchscreens connected to IoT enable automatic updates of schedules and wayfinding maps. Interactive displays are expected to dominate the India digital signage market owing to improved customer experience.
Porter’s Analysis
Threat of new entrants: The threat of new players entering the India digital signage system market is moderate. As this industry requires high investments and expertise, new players face barriers.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of various alternatives. However, buyers bargain more for customized digital signage systems.
Bargaining power of suppliers: Suppliers have low bargaining power as there are numerous component suppliers in the market.
Threat of new substitutes: The threat of substitutes is low as digital signage systems offer unique solutions for various organizations.
Competitive rivalry: The competition among the players is high as the market is fragmented with the presence of both international and domestic players.The global India Digital Signage System Market Growth expected to witness high growth.
Regional analysis:
Asia-Pacific region is expected to dominate the market and grow at a CAGR of 9.1% during the forecast period. Factors such as rising commercial infrastructure, sports & entertainment industries are fueling the demand.
Key players related content NEC Display Solutions, Planar Systems, Samsung Electronics, Sharp, and Sony are the key players operating in the India digital signage system market. Key players are focusing on new product launches and mergers & acquisitions to strengthen their market position. For instance, in 2022, Samsung launched ‘The Wall’ LED display targeting high-end commercial markets.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
