According to the recent reports, the Indian digital signage market is expected to increase at a compound annual growth rate of 18 percent from 2012 to 2022. The addition of the “India Digital Signage Market by Component, By Application, By End User, Competition Forecast and Opportunities, 2012-2022” has been announced by Research and markets in their report. The India digital signage is expected to exhibit a CAGR of over 18% in value terms during the forecast period.
The implementation of digital signage for outdoor advertising and campaign has increased tremendously in the last few years. This is actually one of the most significant factors for the growth in India Digital Signage market. Many factors come into play by the amplified use of digital signage such as; it enhances the appeal and is more effective in engaging the audience as well as the onlookers. The increased implementation by the government and transportation sectors also plays an integral role in boosting the Digital India initiative of the government.
The rise in demand for Out-Of-Home (OOH) digital signage along with the increase in the occurrence of events such as the Indian Premier League, Lakme Fashion Week, international music festivals such as Sunburn and Supersonic are basically responsible for demand in the digital signage in the Indian market.
Companies like LG Electronics India Pvt. Ltd., Samsung India Electronics Pvt. Ltd., Sharp Business Systems India Pvt Ltd., Nusyn Digital Solutions Private Limited are playing integral role in the growth of Digital signage market. The key drivers are increasing the demand of marketing through Digital Signage. Big & large scale events such as the Indian Premier League are also increasing the demand for DOOH digital signage.