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The smart led indoor signage market size is estimated to grow at a CAGR of 21.62% between 2022 and 2027. The size of the market is forecast to increase by USD 2,090.71 million. The growth of the market depends on several factors, including the low power consumption and do-it-yourself (DIY) design, the demand for high-resolution and interactive content, and the high growth of retail space.Smart LED indoor signage consumes less power than traditional digital signage, leading to reduced operating costs for end-users. This is a major driving factor for the growth of the global smart LED indoor signage market.
This report extensively covers market segmentation by end-user (retail, QSR and restaurants, education, healthcare, and others), screen size (less than 32, 32-35, and 55 and above), and geography (North America, APAC, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The high growth of retail space is notably driving the market growth, although factors such as the growth of e-commerce and online advertising may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Smart Led Indoor Signage Market Driver
Low power consumption and do-it-yourself (DIY) designs are driving the growth of the global indoor smart LED signage market. The power consumption of smart LED indoor signage is less than that of traditional digital signage. Low power consumption reduces the operating costs for end-users, which will be one of the main factors driving the growth of the market. Moreover, power consumption depends on multiple parameters, such as the size of the billboard, the resolution, the number of LEDs, and color variants. Smart LED screens contain components such as an anode, a cathode, and a substrate. They do not require background lighting to create visual effects, which significantly reduces their power consumption.
Furthermore, the ultra-thin structure of smart LED screens is customizable and consumes less power than other digital signage solutions. Therefore, the demand for smart LED indoor signage solutions is expected to increase significantly during the forecast period. This is mainly because most market vendors are working on offering enhanced features in their products, such as high transparency, lightweight, high brightness, modular design, and high picture quality with low power consumption. Thus, such factors will influence the demand for the market during the forecast period.
Significant Smart Led Indoor Signage Market Trend
The global smart LED indoor signage market is witnessing a primary trend towards reseller programs, increasing partnerships, and collaborations. Vendors are introducing various partner programs to promote digital signage solutions in a highly competitive market. Major vendors, including Samsung Electronics Co Ltd, are offering different options for partner programs and certification programs. Furthermore, with the emergence of advanced digital technologies like AR and VR, vendors are actively partnering with technology solution providers to enhance their digital signage offerings.
In addition, the number of partnerships and collaborations between digital signage resellers, hardware providers, digital signage software providers, and content management platforms in the market is expected to increase during the forecast period. This rise in partnerships is driven by increasing competition, the need for enterprises to manage digital signage displays remotely, and the growing demand for advertising through digital content. These factors are likely to impact the demand for market solutions in the forecast period.
Major Smart Led Indoor Signage Market Challenge
The growth of e-commerce and online advertising is a major challenge to the growth of the global smart LED indoor signage market. The e-commerce market has grown significantly over the past few years, impacting local retailers around the world. The growing number of Internet users and the pay-per-click advertising model adopted by online giants such as Google LLC (Google) are attracting companies to adopt the online advertising model. Information overload is a major obstacle for businesses to capture customer attention with digital signage displays. Other limitations of digital signage include visual impairment of the display. Display blindness is defined as a lack of consumer interest in reading or interacting with digital signage displays.
Displaying generic content and /images on digital signage can result in display blindness and will not provide the expected return on investments (ROI) for end-user enterprises. Enterprises must ensure that the content that they display on digital signage is updated regularly and that product-specific information is provided instead of generic content. They must also consider the target audience at a particular location while creating digital signage content. Online targeted advertisement addresses all these issues at a minimal cost. Therefore, the growth of e-commerce platforms and online advertising models can be a hindrance to the growth of the market during the forecast period.
Key Smart Led Indoor Signage Market Customer Landscape
The Smart Led Indoor Signage market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Smart Led Indoor Signage Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
absen.com - The company offers smart LED indoor signage such as AX Series, and PL V2 Series. Also, the company offers a wide range of products such as commercial visualization, DOOH, rental, and staging.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the retail segment will be significant during the forecast period. Interactive features help customers in retail stores scan products themselves in front of digital signage to get complete information about these goods. In addition, various discounts and offers can be displayed on digital signage both inside and outside retail stores for advertising. The growing popularity of high-resolution display solutions along with AR and virtual reality (VR) is estimated to drive the demand for smart LED indoor signage products significantly in the retail sector during the forecast period. Furthermore, digital signage data analytics platforms allow enterprises to fine-tune the content of smart LED indoor signage to increase their returns on investment (ROI). Hence, the above-mentioned factors are expected to fuel the growth of the market in focus in the retail segment during the forecast period.
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The retail segment was valued at USD 210.54 million in 2017 and continue to grow by 2021. Smart LED indoor signage offers numerous advantages over traditional printed signage, as it facilitates customer interaction, offers accurate and centralized control capability, and provides superior design capability. Retailers can deploy digital signage in window displays to attract customers by providing information on discount updates and offers on store products. Retailers can also use smart LED indoor signage inside retail stores for disseminating store information and specific product information and upselling more products to customers. Numerous retailers are employing smart LED indoor signage to assist their customers in their shopping experiences. Such factors will increase the market growth during the forecast period.
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North America is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The smart LED indoor signage market in North America has been primarily driven by the high demand for smart LED indoor signage solutions. Enterprises across industries are implementing digital signage solutions to attract customers, increase customer engagement, and derive actionable insights based on audience analytics. Also, enterprises in North America are looking for high-picture-quality digital signage displays and are trying to provide a unique experience to their customers. Digital signage solution providers are introducing new products to cater to this demand from enterprises. Moreover, this device is equipped with a Windows 10 IoT enterprise edition, which has a self-service display that features a speaker, a printer, a scanner, and a payment service to create a one-stop solution for customers. The device's first demonstration was conducted in New York in the same month. However, the high price of OLED digital signage remains a challenge to the market's growth.
In 2020, the outbreak of the COVID-19 pandemic led to a halt in the operations of most industrial activities, including LED manufacturing units, which negatively impacted the supply chain of the smart LED indoor signage market in the region. However, the market is expected to recover due to the increased vaccination rate in the region, especially in the US, where almost 80% of the population has been fully vaccinated. The subsequent decline in the number of COVID-19 cases resulted in the lifting of restrictions and the resumption of all industrial activities. This will help in the restoration of the smart LED indoor signage supply chain and the revival of demand from end-user industries in the region. Thus, the smart LED indoor signage market in North America is expected to grow during the forecast period.
The Smart Led Indoor Signage market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Smart Led Indoor Signage Market Scope |
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Report Coverage |
Details |
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Page number |
174 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 21.62% |
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Market growth 2023-2027 |
USD 2,090.71 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
20.01 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Performing market contribution |
North America at 36% |
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Key countries |
US, Canada, China, Japan, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Absen Optoelectronic Co. Ltd., Aero Digital World, AU Optronics Corp., Firstouch Solutions Pvt. Ltd., Grandwell Industries, Koninklijke Philips NV, LG Corp., Metroplus Advertising LLC, Osel Technology Pvt. Ltd., Panasonic Holdings Corp., Planar Systems Inc., Qisda Corp., Samsung Electronics Co. Ltd., Shanghai Goodview Electronics Technology Co. Ltd., Sharp Corp., Shenzhen Ledsino Optoelectronic Co. Ltd., Tailong Zhixian Technology Shenzhen Co. Ltd., Toshiba Corp., Xtreme Media Pvt. Ltd., and Sony Group Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Screen Size
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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