Panel based acquired the largest market revenue share in the India digital signage market – 6Wresearch
Under a public-private partnership model, 36,000 crores would be invested in the development of new greenfield airports around the country, that would boost the digital signage business in the country over the coming years. Covid-19 had a significant impact on the overall digital signage market in 2020, as the country experienced a nationwide lockdown that resulted in the closure of international borders and hindered the supply chain in the market, resulting in a 55 percent decline in the OOH advertising industry in H1 2020. Many commercial locations, shopping malls, cinemas, and stadiums where digital signage screens were substantially installed were closed during that year, affecting market demand. With government's increased investment on infrastructure projects, the industry is likely to develop significantly in the future years. Over the next four to five years, the Airport Authority of India (AAI) plans to create new airports as well as upgrade many existing airports at a cost of Rs 25,000 that would propel the demand of digital signage in the country.
According to 6Wresearch, India Digital Signage Market size is projected to grow at a CAGR of 15.4% during 2022-2028. More chances in this sector would be created by the expansion of transportation networks, public infrastructure, and the development of new commercial buildings, particularly in developing cities. The construction of large business malls in cities such as Mumbai, Lucknow, Bengaluru, Noida, and Amravati are expected to drive digital signage demand in the coming periods.”
According to Ananya Consul, Research Analyst, 6Wresearch, “CMS would have the fastest revenue growth in the Indian digital signage market due to its technologically advanced features, such as a wired or wireless network connectivity platform that expands the system's capabilities by permitting it to interact with other connected digital devices. For delivering real-time dynamic information, effective content and an easy-to-use content management system (CMS) are vital components of every digital signage solution, which explains their dominance.”
According to Saurav Kumar Singh, Research Associate, 6Wresearch, “The retail sector, which is predicted to grow to 82 million sq. ft by 2023 and is a significant sector where digital signage screens are used, is expected to develop at the fastest rate over the projection period. Retailers are installing signage screens in their outlets and showrooms to increase customer appeal that is resulting in a growth of the digital signage market in India.”
Some of the major companies in India digital signage market include Samsung India Electronics Pvt Ltd, LG Electronics India Pvt Ltd, Panasonic Corporation, BenQ Corporation, Sharp Corporation, Sony India Pvt Ltd, Delta Electronics Inc., Yodeck (Flipnode LLC), Pickcel (LaneSquare Technology Pvt. Ltd.) and Christie Digital Systems (India) Pvt. Ltd.
“India digital signage market (2022-2028)” report provides an in-depth analysis with 47 figures and 13 tables, covered in 119 pages. The report comprehensively covers the market by components, display screen types, display screen size, display screen technology applications, verticals and regions. India digital signage market report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas, market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.