APAC Digital Signage Market Size (2024 - 2029)

The Asia Pacific digital signage market is anticipated to experience significant growth, driven by the increasing use of video walls and digital billboards for brand marketing in both developing and developed countries. This market expansion is fueled by the growing reliance of various sectors, including government, healthcare, public transit, and retail, on digital signage to effectively engage and communicate with their target audiences. The technological advancements and reduced costs associated with digital signage are making it more mainstream, while continuous product innovations by vendors are further propelling market growth. Despite initial setbacks due to the COVID-19 pandemic, the demand for digital signage has surged, particularly in industries like healthcare, where it is used to disseminate crucial information.

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Market Size of APAC Digital Signage Industry

Asia Pacific Digital Signage Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR (2024 - 2029) 7.58 %
Market Concentration Medium

Major Players

Asia Pacific Digital Signage Market Key Players

*Disclaimer: Major Players sorted in no particular order

APAC Digital Signage Market Analysis

The APAC Digital Signage Market is expected to register a CAGR of 7.58% during the forecast period.

The market is expected to have a steady growth owing to the increased application of video walls and digital billboards for brand marketing in developing nations such as India, Singapore and developed countries such as China and Japan.

  • Digital signage has played an important factor in influencing the purchase decision, and institutions, like the government, healthcare, public transit, and retail stores, are now heavily relying on digital signages to better engage their targeted audiences to communicate their message.
  • As digital signage enables content and messages to be displayed on an electronic screen or digital sign and can be changed without modification to the physical sign, aggressive growth over the next few years across various emerging economies is anticipated. The adoption of digital signage is becoming more popular and mainstream with the technological advancements and decrease in price.
  • The vendors offering digital signage solutions are continuously investing in product innovations. For instance, Samsung announced the global launch of The Wall Luxury, which is the latest version of its modular MicroLED screen, which can be tailored to any size and aspect ratio. Such innovations and the global increase in ad spending are expected to drive the demand.
  • The COVID-19 outbreak has affected the studied market, as the manufacturing facilities were closed in the initial phase and work from home trends also reflected the demand decrease. However, the scenario expanded the scope of marketing through digital signage across many industries, especially in hospitals and public places, which utilized the technology for displaying important information.

APAC Digital Signage Industry Segmentation

Digital signage is essentially a display technology that shows the text, images, and videos. It uses LCD, LED, projection, and e-paper to display the digital advertisement content.

The study characterizes the market based on types, such as hardware, software, and services, and application, such as retail, transportation, hospitality, corporate, education, government, and other applications, along with other market segments.

The study also covers the impact of COVID-19 on the Industry.

By Type
Video Wall
Video Screen
Kiosk
Transparent LCD Screen
Digital Poster
Other Types
By Component
Hardware
LCD/LED Display
OLED Display
Media Players
Projector/Projection Screens
Other Hardware
Software
Services
By Size
Below 32"
32"-52"
Above 52"
By Location
In-Store
Outdoor
By Application
Retail
Transportation
Hospitality
Corporate
Education
Government
Other Applications
By Country
China
Japan
India
South Korea
Rest of Asia Pacific
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APAC Digital Signage Market Size Summary

The Asia Pacific digital signage market is poised for steady growth, driven by the increasing use of video walls and digital billboards for brand marketing in both developing and developed countries within the region. Digital signage has become a crucial tool for various sectors, including government, healthcare, public transit, and retail, as it enhances audience engagement and facilitates effective communication. The technology's ability to display and update content dynamically without physical alterations has contributed to its rising popularity. Vendors are investing in product innovations, such as Samsung's modular MicroLED screen, to meet the growing demand. Despite initial setbacks due to the COVID-19 pandemic, which temporarily disrupted manufacturing and reduced demand, the crisis also expanded the application of digital signage in industries like healthcare and public spaces, where it was used to convey essential information.

The market is characterized by the adoption of advanced technologies like OLED, which offers superior picture quality and flexibility, making it a promising future trend for digital displays. Countries like Vietnam are actively promoting OLED digital signage, with significant installations in places like shopping malls in India. The pandemic has accelerated the adoption of digital signage as businesses sought new ways to engage customers, exemplified by the jewelry sector in India, which embraced a 'phygital' approach to enhance customer experience. The market is partially fragmented, with major players like NEC Display Solutions, LG Display, Samsung Electronics, Panasonic, and Sony Corporation holding significant shares. These companies are expanding their market presence through innovative solutions and strategic partnerships, such as Midwich's collaboration with MediaStar Systems in Australia and New Zealand.

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APAC Digital Signage Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Assessment of Impact of COVID-19 on the Industry

    3. 1.3 Market Drivers

      1. 1.3.1 Growth Of End-user Verticals, such as Retail and Healthcare

      2. 1.3.2 Increasing Adoption due to less operating cost and ease of change in signage

    4. 1.4 Market Restraints

      1. 1.4.1 High initial setup costs

    5. 1.5 Industry Value Chain Analysis

    6. 1.6 Industry Attractiveness - Porter's Five Force Analysis

      1. 1.6.1 Bargaining Power of Suppliers

      2. 1.6.2 Bargaining Power of Buyers

      3. 1.6.3 Threat of New Entrants

      4. 1.6.4 Threat of Substitute Products

      5. 1.6.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Video Wall

      2. 2.1.2 Video Screen

      3. 2.1.3 Kiosk

      4. 2.1.4 Transparent LCD Screen

      5. 2.1.5 Digital Poster

      6. 2.1.6 Other Types

    2. 2.2 By Component

      1. 2.2.1 Hardware

        1. 2.2.1.1 LCD/LED Display

        2. 2.2.1.2 OLED Display

        3. 2.2.1.3 Media Players

        4. 2.2.1.4 Projector/Projection Screens

        5. 2.2.1.5 Other Hardware

      2. 2.2.2 Software

      3. 2.2.3 Services

    3. 2.3 By Size

      1. 2.3.1 Below 32"

      2. 2.3.2 32"-52"

      3. 2.3.3 Above 52"

    4. 2.4 By Location

      1. 2.4.1 In-Store

      2. 2.4.2 Outdoor

    5. 2.5 By Application

      1. 2.5.1 Retail

      2. 2.5.2 Transportation

      3. 2.5.3 Hospitality

      4. 2.5.4 Corporate

      5. 2.5.5 Education

      6. 2.5.6 Government

      7. 2.5.7 Other Applications

    6. 2.6 By Country

      1. 2.6.1 China

      2. 2.6.2 Japan

      3. 2.6.3 India

      4. 2.6.4 South Korea

      5. 2.6.5 Rest of Asia Pacific

APAC Digital Signage Market Size FAQs

The APAC Digital Signage Market is projected to register a CAGR of 7.58% during the forecast period (2024-2029)

NEC Display Solutions Co. Ltd, LG Display Co. Ltd, Samsung Electronics Co. Ltd, Panasonic Corporation and Sony Corporation are the major companies operating in the APAC Digital Signage Market.

APAC Digital Signage Market Report Snapshots

Asia Pacific Digital Signage Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)