India Digital Signage Market

Digital signage is a digital installation that shows multimedia or video content for advertising and informational functions. Digital signage comes under electronic signage, which is a display technology such as projection, e-paper, LED, and LCD. It is basically used to share information to people in restaurants, airports, movie halls, and other public places. It can be assembled or featured as per the requirement of the customer. The various examples of digital signage applications are safety videos at the gas pumps, check-in kiosks at airports, menu details, and order status at restaurants, among others.

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The key factor driving the growth of the digital signage market in India is the growing adoption of digital signage technologies and solutions by various enterprises for the marketing and advertisement of their company and products. Rapid development in the infrastructural activities is increasing the market for digital signage as awareness about the benefits of these technologies is growing swiftly among people. With the implementation of digital signage technology, it has become easier and more effective for companies to share information with people for promotional activities as it increases the ability to reach out to a large volume of audiences. This factor is inclining several companies to install digital signage technology in their businesses, thus surging the growth of the digital signage market.

Moreover, the Digital India initiative, started by the Ministry of Electronics & Information Technology, is increasing the technological advancements in different urban and semi-urban areas to digitally share information with people. Digital media week is held by the Indian Prime Minister to promote the use of technology and encourage people from different sectors. Another initiative is the Electronics Development Fund, which supports new start-ups to manufacture electronic products to reduce imports. These initiatives are expected to surge the growth of the digital signage market. On the contrary, high installation costs might restrain the market for digital signage in India as it is difficult for enterprises to manage such large investments without any proper funding.

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Based on the offering, the market is segmented into hardware, software, and service. The software segment is projected to grow at a higher CAGR over the forecast period. This is due to the increasing demand for software or to upgrade licenses. Hardware is not bought frequently due to its long life as compared to software. There are licenses for software, which need to be upgraded from time to time. This reason plays a significant role in driving the growth of the software segment in the digital signage market in India.

Based on vertical, the market is segmented into commercial, infrastructural, institutional, and industrial. The commercial segment is projected to grow at a higher CAGR during the forecast period. This is due to the increase in marketing activities done through digital signages as it is an easy way to reach out to a large number of public. It allows several enterprises to increase their volume of customers and enhance their promotions. The high adoption of digital signages in the commercial sector is another energizing the demand of the segment in India.

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Key Developments: 

• • In 2020, Scala announced its new flagship digital signage platform, Scala Enterprise Version 12.00, featuring five major component upgradation with support for Linux media players.
  • In 2018, Panasonic Corporation launched its new digital signage solutions known as SignEdge. It is an ideal platform to advertise their products and do promotional campaigns.

The India digital signage market has been segmented on the basis of offering, product, application, and vertical. Based on offering, the market is segmented into hardware, software, and service. Based on product, the market is segmented into video wall and standalone displays. Based on application, the market is segmented into indoor and outdoor. Based on vertical, the market is segmented into commercial, infrastructural, institutional, and industrial.

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Key questions answered in this research report:

• • At what pace is India digital signage market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in India digital signage market? What will be the impact of drivers and restraints in the future?
  • Which product generated maximum revenues in 2019 and identify the most promising technology during the forecast period?
  • What are the offering areas of India digital signage market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation:

India Digital Signage Market by Offering

• • Hardware
    • Displays
    • Media Players
    • Projectors
    • Other Hardware Products
  • Software
    • Edge Server Software
    • Content Management System
    • Others
  • Services
    • Installation Services
    • Maintenance & Support Services
    • Consulting & Other Services

India Digital Signage Market by Application

• • Indoor
  • Outdoor

India Digital Signage Market by Product

• • Video Wall
  • Standalone Display
    • Kiosks
    • Menu Boards
    • Billboards
    • Other Standalone Displays

India Digital Signage Market by Vertical

• • Commercial
    • Retail
    • Corporate and Broadcast
    • Healthcare
    • Hospitality
    • Government, Command and Control Center
  • Infrastructural
    • Transportation and Public Places
    • Sports and Entertainment
  • Institutional
    • Banking, Financial Services, and Insurance
    • Education
  • Industrial