© Copyright Our Wall
India Digital Signage Market
Overview
India digital signage market grew
significantly in the period of 2017-2019 on account of rising advertising
expenditure that is expected to reach INR 94,896 crore by 2022 in India from
INR 68,475 crore in 2019 along with robust demand for office spaces that surged
by 40% touching 69.4 million sq ft in Pan India in the year 2019, compared to
49.5 million sq. ft. in the year 2018. During 2020, Covid-19 significantly
impacted the overall India digital signage market growth as the country faced
nationwide lockdown that led to shutting down of international borders and
impacted the supply chain in market which has resulted in the declined in OOH
advertising industry by 55% in H1, 2020, which resulted in the downfall of
outdoor digital signage market share . Most of the commercial spaces, shopping
malls, cinemas and stadiums were closed where digital signage screens are
heavily deployed that impacted the market demand during that year.
Market by Display Screen Type
Panel Based acquired major
revenue share in India digital signage market as they are comparatively
cheaper than true color LED, owing to which it is preferred in retail and
commercial sectors extensively. Construction of multiple commercial malls
across tier-I and tier-II Indian cities like Noida, Bengaluru, Mumbai, Lucknow
and Amravati with approximately 4.5 million sq. ft. of new spaces is planned
would drive the market for panel base display screen over the coming years.
According to 6Wresearch, India Digital Signage Market size is projected to grow at a CAGR of 15.4% during.
2022–2028. The market is expected to witness significant growth in the coming
years owing to rising spending expenditure of government on infrastructure
projects. The government is building 1,000 km of metro rail network across 27
cities in India along with 100 airports with 1000 new flight routes by the end
of 2024. Also, the central government presented a roadmap to invest ₹91,000
crore to develop new airports and upgrading existing ones in different parts of
India in the coming 5 years which would boost the digital signage market in
India in coming years. India digital signage market is in the growing stage of
industry life cycle owing to the increased demand for digitized promotion of
products and services and rapid innovation in the field of digital signage in
order to produce high quality viewing experience.
Key Highlights of the Report:-
India Digital Signage Market
Overview
India Digital Signage Market
Outlook
India Digital Signage Market
Forecast
Market Drivers and Restraints
Industry Life Cycle
Porter’s Five Force Analysis
Impact Analysis of COVID-19
India Digital Signage Market
Trends
India Digital Signage Market
Revenue Share, By Companies
Competitive Benchmarking
Company Profiles
Key Strategic Recommendations
About us: -
6wresearch is the premier,
one-stop market intelligence and advisory center, known for its best-in-class
business research and consulting activity. We provide industry research reports
and consulting services across different industries and geographies which
provide industry players an in-depth coverage and help them in decision-making before
investing or entering into a particular geography. Our Research Process
Outsourcing (RPO) division enables our clients to reduce their costs by
outsourcing their research needs and focusing on their core competencies.
Contact Us:-
Phone: +911143024305 | Email Id: sales@6wresearch.com
The Wall