by Digital signage systems have seen a spike in demand from various commercial sectors in India including corporate offices, retail stores, healthcare facilities and public transport systems. Digital signage allows easy sharing of messages, advertisements, notifications as well as live content across screens placed strategically within commercial spaces. These systems offer advantages like centralized content management, remote updates, interactive capabilities and analytical tools to gauge audience engagement.
Deploying digital signage allows businesses to grab viewer attention through immersive visuals, enhance customer experience with wayfinding aids, streamline internal communications, and generate additional revenue streams through advertisements. The high installation and operational costs associated with traditional billboards have also boosted the adoption of digital signage which provides dynamic content playback at lower expenses. With growing urbanization and expansion of commercial infrastructure in India, digital signage is finding wide applications across industry verticals.
The global India Digital Signage System Market is estimated to be valued at US$ 802.63 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
One of the major trends driving the market is the rise in the implementation of interactive digital signage. Interactive digital signage enables two-way communication and delivers an enhanced customer experience. Users can interact with digital signage displays through touchscreens, gestures, mobile apps etc. This allows businesses to gather real-time customer insights and feedback. As customer expectations are evolving towards more immersive experiences, interactive digital signage is gaining traction in India. Another key trend is the increasing deployment of digital signage powered by AI and IoT technologies. Integration of AI facilitates automatic playlist generation, customized content according to time/audience and predictive maintenance. While IoT-enabled connectivity optimizes content distribution, remote monitoring and energy efficiency of digital signage networks.
Porter’s Analysis
Threat of new entrants: Low barrier to entry with technologies support and increasing demand. However established players dominate the market.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and price sensitivity.
Bargaining power of suppliers: Suppliers have moderate power due to availability of alternate suppliers and less differentiation in products.
Threat of new substitutes: Threat of substitution is low as digital signage systems have distinct features compared to traditional signage.
Competitive rivalry: Intense competition exist among existing players to increase market share through product innovation, marketing and customer support.
Key Takeaways
The global India Digital Signage System Market Trends is expected to witness high growth. The global India Digital Signage System Market is estimated to be valued at US$ 802.63 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030.
Regional analysis: The India market dominates the regional market and is expected to grow at a fastest CAGR during the forecast period. The increasing retail sector and growing adoption in corporate office sectors are the major factors for market growth in the region.
Key players: Key players operating in the India Digital Signage System Market are Bio Bidet, Kohler Co., Inc., HomeTECH, Toshiba, LIXIL Corporation, Coway Co., Ltd, Roca Sanitario SA, Panasonic Corporation of America, RinseWorks, Inc, Brondell Inc., and TOTO USA, Inc. These players are focusing on new product launches and partnerships to gain a competitive advantage in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
