Commercial display market expected to reach $93.16 billion by 2032, driven by digital display growth
From GlobeNewswire: 2024-12-19 08:00:00
The Commercial Display Market was valued at USD 52.13 Billion in 2023, projected to reach USD 93.16 Billion by 2032 with a CAGR of 6.70%. Digital displays drive growth across industries, enhancing communication and engagement. Retailers see a 24% increase in foot traffic and a 46% rise in customer satisfaction with dynamic content and interactive displays. Digital signage is 84% more effective for brand building compared to traditional methods, with an ROI exceeding 30% and a 400% increase in customer engagement. Businesses in transportation and healthcare sectors also leverage digital displays for navigation, patient communication, and wayfinding, while smart city integration further boosts market demand.
The digital signage segment dominated the market in 2023, accounting for 53.1% of revenue, with its versatility enabling businesses to engage target audiences through real-time information for advertising, promotions, wayfinding, and customer interaction. LED technology led with a 48.3% market share in 2023 due to energy efficiency, brightness, and long lifespan. The hardware segment led with a 54.6% revenue share, driven by its critical role in powering digital displays. In 2023, the 32-inch display segment led the market with a 37.7% revenue share, driven by compact size and affordability.
North America led the market in 2023 with a 33.7% revenue share due to advanced technological infrastructure and widespread adoption of digital signage. The region’s major retailers and corporations leverage commercial displays for marketing and customer engagement. The Asia Pacific region is expected to grow at a rate of 7.1% due to rapid urbanization, increased consumer spending, and a push for digital transformation. Countries like China and India are investing heavily in technology and infrastructure, driving demand in retail, transportation, and corporate sectors. Samsung Electronics unveils SmartThings Pro and next-gen display technologies at InfoComm 2024, while LG focuses on B2B growth with customer-centric solutions. Orange Business and Cisco sign MoU to accelerate GHG emission reduction efforts. The commercial display market is seeing significant growth and innovation, with a focus on user engagement metrics, operational efficiency improvements, regulatory compliance trends, and technology development. SNS Insider offers research insights on the commercial display market growth and outlook, with options for purchasing reports and subscriptions. SNS Insider is a leading market research and consulting agency providing clients with current, accurate market data and insights to make informed decisions in changing circumstances.
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