India Digital Signage Market Outlook (2022–2028) - Size, Trends & 6Wresearch from 6wresearch's blog

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

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