Digital signage systems are electronic display boards used to display multimedia content such as digital images, videos, and information. They are increasingly being used for digital marketing, branding, and to provide information in public places like airports, railway stations, hotels, and malls. They offer several advantages over traditional printed posters such as remote content management and dynamic content updates. The growing public infrastructure sector in India is driving significant demand for digital signage solutions to provide real-time information updates to citizens.
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:
The increasing demand from the public infrastructure sector is one of the key trends driving the growth of the India digital signage system market. Various government initiatives such as Smart City Mission, Digital India, Metro rail expansion plans, and airport infrastructure development projects are boosting investments in public infrastructure development across major cities. Digital signage systems allow public authorities to disseminate important information and advisories instantly to a mass audience. They are ideal for applications like wayfinding guides at airports and railway stations, emergency notifications, display of metro schedules and security updates. The government's focus on modernizing public infrastructure with digital technologies will continue to propel the demand for digital signage solutions in the coming years.
Segment Analysis
The India Digital Signage System Market is dominated by the commercial segment which constitutes over 60% share of the total market. Commercial digital signage finds wide application in retail stores, restaurants, corporate offices, airports, healthcare facilities for displaying menus, ads, informing and guiding customers & visitors. The growing retail and hospitality sectors along with rising advertising & marketing spends on digital mediums are boosting the adoption of digital signage across various commercial establishments in India.
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.
The India digital signage system market is estimated to grow at a significant rate during the forecast period. The Western region holds the major share in the market owing to presence of key market players, rapid urbanization and growing infrastructure in states such as Maharashtra and Gujarat. Several commercial project launches such as upgrading metro stations, bus stands/terminals, refurbishing airports etc are propelling adoption of digital signage solutions in Western India.
The Southern region is anticipated to showcase high growth opportunities during 2023-2030 on account of increasing retail activity in tier 1 and tier 2 cities of Tamil Nadu, Karnataka and Kerala along with ongoing real estate and construction projects. Majority of key players are focusing on Southeastern states for business expansion in view of surging organized retail and construction sectors.
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. The above mentioned players are focusing on new product launches and partnerships to strengthen their presence across India. For instance, in 2022 Bio Bidet partnered with Plumb Center to accelerate its retail expansion and offer a wider range of hygienic solutions to customers.
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