Latin America Digital Signage Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.11 Billion |
| Market Size (2029) | USD 1.64 Billion |
| CAGR (2024 - 2029) | 8.09 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Latin America Digital Signage Market Analysis
The Latin America Digital Signage Market size is estimated at USD 1.11 billion in 2024, and is expected to reach USD 1.64 billion by 2029, growing at a CAGR of 8.09% during the forecast period (2024-2029).
- Digital signage enables vendors in the region to change the displays and messages more quickly and let the content reach potential customers cost-effectively and efficiently. It is easy to manage compared to traditional advertisements. Digital signs offer real-time information on products and availability, interactive data, and visually enticing photos and videos.
- The increased spending on digital advertising in Latin America is expected to create significant opportunities for the growth of the digital signage market. Digital outdoor signage is a part of the audio and visual market that has grown steadily over the last decade, and that growth is only accelerating. Digital outdoor signage is used in almost every industry, with applications in restaurants and hotels, retail places, transit facilities, and entertainment events.
- The region has been witnessing expansions from global companies, as the area offers lucrative opportunities to solution providers for development and growth. For instance, in November 2023, Navori Labs deployed a unified digital signage software and AI-based camera analytics solution for Walmart Connect, the omnichannel retail media business of Walmart de Mexico y Centroamerica. The solution is employed across all 173 Walmart Supercenters in Mexico and 180 of 200 in-country Sam’s Club locations, with the remaining 20 stores expected to follow.
- Increasing collaborations are expected to aid the solution providers in providing innovative solutions to customers. For instance, the Digital Signage Federation (DSF), the independent not-for-profit trade organization serving the digital signage industry, announced that DSMX is an affiliate of the DSF called Asociaciòn Digital Signage Latinoamèrica or DS Latin America. The new companion will help DSF to develop industry-leading education, standards, and best practices globally.
- The ongoing digital transformation across Latin America is a significant driver. Enhanced internet connectivity and adopting technologies like IoT, AI, and Big Data are boosting the demand for digital signage solutions. This digital shift allows businesses to leverage advanced display technologies and interactive features to effectively engage customers.
- In addition, innovations in display technologies, such as OLED, micro-LED, and interactive touchscreens, make digital signage more attractive and functional. These technologies provide higher-quality displays and new interactive capabilities, which appeal to businesses looking to capture consumer attention effectively. For instance, in May 2024, LG Display, the world's significant innovator of display technologies, announced the unveiling of many of its next-generation OLED and cutting-edge display technologies in the region.
- Digital signage for end users trying to develop and deploy the infrastructure independently can be confusing. Being a complex undertaking, it requires expertise in various areas, such as IT, audiovisual, software, mechanical, and display technologies. Technical ease and standardization of protocols are required to take advantage of complete solutions offered by value-added retailers who incorporate products from partner hardware and software vendors. This not only eases installation but also simplifies upgrades and reduces maintenance. Interoperability is another major concern in the market.
- Post-pandemic, businesses have been looking toward new approaches to engage customers with the emergence of new technologies and the ever-increasing popularity of digital content. Organizations that once used printed signage and in-person communication depended more heavily on digital communications over the past two years, and the trend is expected to continue. With companies printing less physical material and reducing capacity limits, digital signage is expected to play an essential role in the post-COVID-19 period in Latin America.
Latin America Digital Signage Market Trends
LCD/LED Displays Are Expected to Drive Market Growth
- LEDs and LCDs are significantly driving the demand for digital signage in the region. These displays offer superior image quality with high resolution, bright colors, and sharp contrast. The enhanced visual appeal makes digital signage more effective at capturing attention and engaging viewers in retail environments, corporate settings, or public spaces. The ability to display high-definition content attracts businesses looking to make a strong visual impact.
- Continuous advancements in LCD and LED technology, such as higher resolutions (4K and 8K), touchscreen capabilities, and integration with interactive features, make digital signage more engaging and functional. These technological improvements enable more creative and interactive content, enhancing user engagement and providing better customer experiences.
- For instance, in May 2023, LG Electronics delivered a super-large LED outdoor billboard to Peru. The billboard, equipped with 140 panels, offers realistic three-dimensional anamorphic content.
- The rapid urbanization and economic development in Latin America are creating new opportunities for digital signage. As cities grow and new commercial spaces are developed, the demand for modern, effective communication tools is increasing. Digital signage, powered by advanced LED and LCD displays, meets this demand by providing dynamic and visually appealing solutions. In 2023, the degree of urbanization worldwide was at 57%. Latin America, the Caribbean, and North America were the regions with the highest level of urbanization, with over four-fifths of the population residing in urban areas.
- Companies are increasingly integrating their online and offline marketing strategies. Digital signage, powered by LED and LCDs, allows businesses to extend their internet advertising campaigns into the physical world, creating a seamless brand experience. This integration drives the need for high-quality displays with the same visual impact as online ads. According to Zenith, in 2023, internet advertising spending in Latin America amounted to USD 13.29 billion, an increase of 12.03% from the previous year. It is projected to rise to over 14.5 billion by 2024. This would make it the second-largest ad medium in Latin America, accounting for a third of the total ad spend in the region.
Brazil Holds the Largest Market Share
- Brazil is increasingly embracing digitization across different aspects of life, including public and private sectors. The push toward smart cities, where digital signage is crucial in providing real-time information and interactive services, is a significant growth driver. This includes applications in public transport systems, traffic management, and public information displays.
- In August 2023, the Seoul Metropolitan Government in South Korea and the World Organization of Smart Sustainable Cities (WeGO) Foundation selected three Brazilian projects as semifinalists in the first edition of the Seoul Smart City Prize. This award encourages innovation in inclusive, innovative city models driven by ICT to care for vulnerable groups. The award reinforces the belief that smart cities should be based on technology as well as people. It includes two categories: Tech-InnovaCity and Human-CentriCity. Such a rise in innovative city initiatives is anticipated to drive the development of the digital signage market in the country.
- In addition, major companies like Samsung, LG, and local players are actively investing in the Brazilian market and offering advanced digital signage solutions. Innovations such as interactive displays and integration with mobile technologies are also propelling market growth. These companies continuously work on making digital signage more cost-effective and accessible to deploy, encouraging wider adoption across various industries.
- In January 2024, Samsung Electronics announced the official launch of its Visual eXperience Transformation (VXT) platform, a cloud-native CMS (content management solution) that combines content and remote signage management on one secure platform. Designed with ease of use, the all-in-one solution allows businesses to easily create and manage their digital displays.
- The digital signage market in Brazil is set to grow due to technological advancements, increasing digitization, economic factors, proactive market players, and supportive government policies. These elements collectively foster a dynamic environment where digital signage can flourish, enhancing communication and advertising effectiveness across multiple sectors. According to the Inter-American Development Bank, the value of Latin America's Internet of Things (IoT) devices increased to around USD 995.6 million in 2023; the figure is expected to reach USD 47.2 billion by 2025.
Latin America Digital Signage Industry Overview
The rising demand across various end users and increasing opportunities for digital signage products contribute to competition among the market players. The Latin American digital signage market is fragmented, with the presence of significant companies such as Panasonic Corporation, LG Display Co. Ltd, Samsung Electronics Co. Ltd, Sony Corporation, and Sharp Corporation. The companies continuously invest in strategic collaborations and product developments to gain market share.
- May 2024: CastHub, a player in digital signage technology, announced a significant software update. This latest version introduced robust functionalities to streamline the management and display of digital content across various industries, including healthcare, wellness, professional services, education, non-profit, retail, religious institutions, and business corporations. CastHub's upcoming software update includes improved video playback, allowing users to seamlessly integrate high-quality videos from Vimeo or YouTube.
- February 2024: Embed Signage announced its strategic partnership with Hivestack by Perion. This collaboration is set to transform monetization opportunities for digital signage, providing a robust solution for media owners globally to capitalize on their screen inventory with unprecedented efficiency and innovation.
Latin America Digital Signage Market Leaders
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Panasonic Corporation
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LG Display Co. Ltd
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Samsung Electronics Co. Ltd
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Sony Corporation
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Sharp Corporation
*Disclaimer: Major Players sorted in no particular order
Latin America Digital Signage Market News
- April 2024: CJ 4DPLEX and Cinépolis expanded their collaboration by launching four new ScreenX locations in Mexico. ScreenX, the multi-projection cinema that extends movie screens onto the surrounding walls of an auditorium, delivers audiences a 270-degree panoramic viewing experience. The latest sites were in addition to Cinépolis’ two existing ScreenX auditoriums in Mexico City, Cinépolis Las Antenas and Cinépolis Toreo, showcasing the company’s Ultra 4DX format.
- April 2024: InfoComm 2024, at the Las Vegas Convention Center, presented an exciting digital signage program featuring training courses, the D=SIGN conference, workshops, networking events, and a digital signage-focused show floor tour. Reflecting the growing opportunities in the digital signage space, the program at InfoComm provided a wealth of insight into the latest technologies and developments in digital signage.
Latin America Digital Signage Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
- 4.1 Market Overview
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4.2 Industry Attractiveness - Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Threat of Substitutes
- 4.2.5 Degree of Competition
- 4.3 Industry Value Chain Analysis
- 4.4 Impact of Key Macroeconomic Trends on the Market
5. MARKET DYNAMICS
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5.1 Market Drivers
- 5.1.1 Gradual Increasing Pace of Digitization
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5.2 Market Challenges
- 5.2.1 High Initial Cost of Innovation and Technical Complexity
6. TECHNOLOGY SNAPSHOT
- 6.1 Kiosk
- 6.2 Billboards
- 6.3 Menu Boards
- 6.4 Signboards
7. MARKET SEGMENTATION
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7.1 By Type
- 7.1.1 Hardware
- 7.1.1.1 LCD/LED Display
- 7.1.1.2 OLED Display
- 7.1.1.3 Media Players
- 7.1.1.4 Projector/Projection Screens
- 7.1.1.5 Other Hardware
- 7.1.2 Software
- 7.1.3 Services
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7.2 By End-user Industry
- 7.2.1 Retail
- 7.2.2 Transportation
- 7.2.3 Hospitality
- 7.2.4 Corporate
- 7.2.5 Government
- 7.2.6 Other End-user Industries
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7.3 By Country
- 7.3.1 Brazil
- 7.3.2 Mexico
- 7.3.3 Argentina
- 7.3.4 Rest of Latin America
8. COMPETITIVE LANDSCAPE
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8.1 Company Profiles
- 8.1.1 Panasonic Corporation
- 8.1.2 LG Display Co. Ltd
- 8.1.3 Samsung Electronics Co. Ltd
- 8.1.4 Sony Corporation
- 8.1.5 Sharp Corporation
- 8.1.6 3M Corporation
- 8.1.7 Scala Inc.
- 8.1.8 Cisco Systems Inc.
- 8.1.9 Broadsign International LLC
- 8.1.10 Omnivex Corporation
- 8.1.11 Stratacache Inc.
- *List Not Exhaustive
9. INVESTMENT ANALYSIS
10. FUTURE OF THE MARKET
** Subject To AvailablityLatin America Digital Signage Industry Segmentation
A digital signage system delivers and displays content, such as digital images, video, streaming media, and information. The displayed content is filed, and the schedule information is edited in the content management system. Digital signage, also known as dynamic signage, is a digital display that advertises broadcast information, television programming, and other content. Digital signs use a variety of technologies, including LED and LCD. They can be observed in public and private spaces like eateries, shops, and workplaces.
The Latin American digital signage market is segmented by type (hardware [LCD/LED display, OLED display, media players, projector/projection screens, and other hardware], software, and services), end-user industry (retail, transportation, hospitality, corporate, government, and other end-user industries), and country (Brazil, Mexico, Argentina, and the Rest of Latin America). The factors affecting the market's evolution in the future, such as drivers and constraints, have been covered in the study. The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Type | Hardware | LCD/LED Display |
| OLED Display | ||
| Media Players | ||
| Projector/Projection Screens | ||
| Other Hardware | ||
| By Type | Software | |
| Services | ||
| By End-user Industry | Retail | |
| Transportation | ||
| Hospitality | ||
| Corporate | ||
| Government | ||
| Other End-user Industries | ||
| By Country | Brazil | |
| Mexico | ||
| Argentina | ||
| Rest of Latin America |
Latin America Digital Signage Market Research FAQs
How big is the Latin America Digital Signage Market?
The Latin America Digital Signage Market size is expected to reach USD 1.11 billion in 2024 and grow at a CAGR of 8.09% to reach USD 1.64 billion by 2029.
What is the current Latin America Digital Signage Market size?
In 2024, the Latin America Digital Signage Market size is expected to reach USD 1.11 billion.
Who are the key players in Latin America Digital Signage Market?
Panasonic Corporation, LG Display Co. Ltd, Samsung Electronics Co. Ltd, Sony Corporation and Sharp Corporation are the major companies operating in the Latin America Digital Signage Market.
What years does this Latin America Digital Signage Market cover, and what was the market size in 2023?
In 2023, the Latin America Digital Signage Market size was estimated at USD 1.02 billion. The report covers the Latin America Digital Signage Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Latin America Digital Signage Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Latin America Digital Signage Industry Report
The Latin America Digital Signage Market Report is segmented by type, including hardware such as LCD/LED displays, OLED displays, media players, and projector/projection screens, as well as software and services. This comprehensive industry report provides an in-depth industry analysis, highlighting the market share, market size, and growth forecast for various segments. The industry research focuses on key end-user industries such as retail, transportation, hospitality, corporate, and government.
The report includes detailed market statistics and industry trends, offering a market overview and market forecast for the coming years. It also examines market growth and market leaders within the region, providing valuable industry information and insights. The market segmentation covers countries like Brazil, Mexico, Argentina, and the rest of Latin America, with market data presented in terms of value.
This industry report is essential for understanding the industry outlook and market predictions, offering a clear market review and market value assessment. The report pdf is available for download, providing a report example for further reference. Research companies will find this report particularly useful for analyzing the industry's sales and size.
Overall, this market report offers a thorough analysis of the Latin America digital signage market, including industry reports, market overview, and market segmentation. With a focus on the industry's growth rate and market outlook, this report is a valuable resource for understanding the current state and future prospects of the digital signage market in Latin America.
