Indian digital signage market was $460 million in 2018 and is estimated to grow at an impressive growth rate of around 11.6% over the forecast period. The rising demand for digital advertising in the country is augmenting the need for digital signages. As per the India Brand Equity Foundation (IBEF), India’s digital advertisement market is expected to grow at a CAGR of 33.5% to cross $3.8 billion marks by 2020. This is estimated to increase the focus of commercials and industries on digital platforms. For instance, the Indian Railways is working on a new advertising policy that intends to install 100,000 big digital screens at 2,175 railway stations across India, which is anticipated to generate around $1.8 billion in revenue annually.
In addition, digital advertising expenditure is expected to leverage in the financial sector of the country as well. Digital signage systems can be employed to broadcast the latest information regarding new products of banks or features in the form of 2D animation/audio-visuals. As these systems are centrally located, such contents can be pushed in a few minutes to all or upon selected digital signage systems installed pan India. As using computers and watching TV has added prominence for any information, digital signage is a better alternative to reach large audiences. It is considered better than printed posters, e-mail and bulletin boards as it can deliver breaking news in real-time, including updated real-time stock market rates and Forex rates. Therefore, it is estimated to have an emerging role in the financial sector in the country.
Indian digital signage market is segmented on the basis of component type, product, application, and region. On the basis of component type, the market is divided into hardware and software. On the basis of the product, the market is classified into standalone display and video wall. Furthermore, the market is classified, on the basis of application, into commercial, industrial, infrastructural, and others. Commercial application of digital signage is estimated to be the fastest-growing segment during the forecast period. The segmental growth is attributed to the extensive application of digital signage displays for advertisement and for announcements in the commercial sector. The commercial sector includes retail, healthcare, hospitality, and government, with applications across hospitals, hotels, quick-service restaurants (QSRs), and malls.
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Indian Digital Signage Market Segmentation
By Component Type
- Hardware
- Software
By Product
- Standalone Display
- Video Wall
By Application
- Commercial
- Industrial
- Infrastructural
- Others (Institutional)
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Company Profiles
- AOPEN Inc. (Acer Inc.)
- AU Optronics Corp.
- Barco NV
- BenQ Corp.
- BrightSign, LLC
- Coates Group Pty Ltd.
- Daktronics, Inc.
- Delta Electronics, Inc.
- E Ink Holdings Inc.
- Exceptional 3D, Inc.
- Goodview Electronic Co., Ltd.
- Hisense International Co., Ltd.
- Intel Corp.
- LG Electronics Inc.
- Navori SA
- NEC Corp.
- Panasonic Corp.
- Planar Systems, Inc.
- Samsung Electronics Co., Ltd.
- Scala, Inc.
- Sony Corp.
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