March 2, 2024

India Digital Signage System Market Is Estimated To Witness High Growth Owing To Increasing Demand Of Large Screen Displays And Content Management Services

The digital signage system market in India is estimated to witness significant growth over the forecast period. Digital signage systems enable effective dissemination of information to target audiences through visually appealing content on large screen displays installed at public places. The surging demand for dynamic content and interactive displays from commercial sectors like retail, transportation and entertainment is propelling the uptake of digital signage solutions in the country. In addition, the emergence of innovative content management services that centralize content creation and distribution is making digital signage systems more affordable for SMEs and individual establishments. The Global 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 2030.

Key Takeaways
Key players operating in the India digital signage system market 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.

The leading players are focusing on new product launches and partnerships to expand their market share. Rising investments in commercial infrastructure and public sector modernization present lucrative opportunities for digital signage providers in India.

Technological advancements like bezel-less displays, interactive touch screens and gesture controls are further enhancing the user experience of digital signage solutions.

Market drivers
The key drivers propelling the demand for digital signage systems in India include rapid urbanization, growing retail sector and rising disposable incomes. Emergence of smart cities coupled with infrastructural development of transportation and public places is boosting investments in digital signage. Furthermore, evolving consumer behavior and advent of experiential marketing is prompting retailers to adopt interactive digital signage for immersive shopping experiences. Increasing population and growing middle class with greater spending power indicates a promising outlook for the adoption of digital signage across India over the forecast period.

Current Challenges in India Digital Signage System Market
The India Digital Signage System Market Growth is witnessing strong growth. However, there are some challenges as well. High installation and maintenance costs deter many small businesses from adopting digital signage. The upfront hardware and software expenses can be quite high. Maintaining the systems also requires technical expertise which increases operational costs. Network connectivity issues also pose a challenge, especially in rural areas where internet speeds may not be adequate. Power outages can disrupt digital displays. Content management also needs skilled resources for regular updates. Standardization issues exist as different platforms use non-compatible file formats.

SWOT Analysis
Strength: Growing digitization and ability to engage audiences better. Weakness: High initial investment requirements. Opportunity: Increased scope in retail, public spaces and transportation sector. Threats: Network issues and technology obsolescence.

Geographically, the major share of India’s digital signage system market is concentrated in major cities like Delhi, Mumbai, Bengaluru, Chennai etc. due to high advertisement and retail sector spending. However, tier 2 and 3 cities are witnessing faster growth as digital displays are being adopted in public places, hospitals, rail/bus stations for information dissemination.

Metro cities of Mumbai, Delhi and Bengaluru alone account for over 45% of the country’s total digital signage installation currently. However, states like Gujarat, Madhya Pradesh and West Bengal are emerging as fastest growing regional markets for digital signage driven by infrastructure development and retail boom. Tier 2 cities in these states are increasingly adopting digital signage for commercial as well as non-commercial applications.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it