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| India Digital SignageSystem Market |
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.
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
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.
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 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 Indian digital signage market 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.
Get More Insights On India
Digital Signage Market
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