by Digital signage systems enable commercial establishments and corporate offices to share important information as well as attractive multimedia content with audiences onsite. The technology offers numerous advantages such as centralized content management, easy updating of information in real-time, and engagement of audiences through interactive features. In India, digital signage is increasingly being deployed across industries like retail, hospitality, healthcare, and transportation due to its ability to enhance customer experiences. The need to effectively communicate through compelling visuals is driving several companies to invest in digital signage networks.
The India digital signage system market is estimated to be valued at US$ 924.63 Bn in 2024 and is expected to exhibit a CAGR of 9.1% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the India Digital Signage System are Meggitt Sensing Systems (Meggitt PLC), SKF AB, Brüel & Kjaer Vibro, Parker Kittiwake (PARKER HANNIFIN CORP.), Rockwell Automation Inc., Thermo Fisher Scientific Inc., GE Bently Nevada, Perkin Elmer Inc., Emerson Electric Co., Gastops Ltd, Nippon Avionics Co. Ltd, AMETEK Spectro Scientific, FLIR Systems Inc. and Fluke Corporation. These companies collectively hold a majority share of the market owing to their diverse digital signage product portfolios and strong distribution networks across India.
The India Digital Signage System Market Size provides numerous opportunities for companies to grow their customer base and generate new revenue streams. Rising commercial infrastructure development projects and event of smart cities offers a platform to deploy large digital signage networks. Furthermore, technological innovations related to interactive displays, facial recognition, and data analytics is expanding the scope of digital signage applications.
The digital signage industry in India is witnessing expansion through strategic acquisitions and partnerships between international firms and domestic players. This allows foreign companies to leverage local expertise and establish presence across Tier I, II and III cities. Meanwhile, Indian signage providers are able to enhance their technical and service capabilities through tie-ups with global majors.
Market Drivers
One of the key drivers for the India Digital Signage System Market Size is the rapid growth of the retail sector. Retailers are widely adopting digital signage for marketing applications like new product promotions, seasonal campaigns, and customer engagement initiatives in-store. The technology helps boost impulse purchases and cart size among shoppers.
Market Restrain
High initial investment requirements pose a major challenge for wider adoption of digital signage systems across India. There are also issues regarding availability of skilled workforce needed for installation, content management and maintenance of advanced digital signage networks. This increases entry barriers, especially for small enterprises.
Segment Analysis
The India digital signage system market can be segmented by Product type into Edge Server and Players, and by Component into Hardware, Services and Software. Among them, the Hardware sub-segment dominates owing to the increasing demand for high resolution displays, media players andSet-Top Boxes (STBs) for digital signages across various sectors in India.
Global Analysis
Regional Analysis: The fastest growing region in the India digital signage system market is South India followed by West India. South India dominates currently as major companies are focusing on expanding their businesses in tier 2 and tier 3 cities of states like Telangana, Andhra Pradesh and Karnataka owing to high smartphone and internet penetration to access digital signages. West India is also growing at a fast pace due to rapid urbanization and industrialization in states like Maharashtra and Gujarat where digital signages are extensively used across public places, retail outlets, corporate offices and public transport.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
