According to a new report released by market research firm Technavio, the global digital signage market size is estimated to grow by $11.14 billion from 2025-2029, with a compound annual growth rate of over 10.3%. Technavio goes on to state that the market growth is being driven by the growth of retail space, though challenges can be found in a lack of content relevance and content diversity.
Another major force driving digital signage market growth is the rise of System on Chip (SOC) technology. This innovation integrates essential processing components onto a single chip, reducing the need for additional components in digital systems. For digital signage applications, SOC technology can be incorporated into commercial displays, replacing multiple equipment such as media players. This streamlined solution allows digital signage operation directly from the screen, offering diagnostic information as well. The benefits of SOC technology in digital signage include cost savings on hardware and installation.
Additionally, SOC simplifies digital content and application development and updates for digital signage systems. Content can be created using smartphones and tablets and easily uploaded to the digital signage system via SOC. This could lead to significant time savings in content creation and updating. Major players in the digital signage market, including SAMSUNG ELECTRONICS, LG Electronics, Panasonic, and Sony, offer SOC-compatible digital signage solutions. As a result, SOC is poised for significant growth as an integrated digital signage solution in the coming years, driving market expansion during the forecast period.
