Advertising industry in India is growing at a healthy rate and has recorded a CAGR of 7% during 2008-15. The advertising industry revenues have crossed $6.7 billion in 2015. Within advertising industry, digital Out-of-Home (OOH) or digital signage for outdoor application advertising segment clocked positive growth over the past five years, wherein verticals such as government & transportation, retail and hospitality are witnessing major installations across India.
In India’s digital signage market, indoor application segment held majority of the share owing to growing installations in areas such as retail outlets, multiplexes, restaurants, pubs/ bars and Quick Service Restaurants (QSRs).
According to 6Wresearch, India digital signage market is projected to reach $874 million by 2022. Although, India’s digital signage market is yet to develop on larger scale due to low degree of awareness in semi-urban and rural parts of the country. Increasing public infrastructure development activities would drive the penetration of digital signage systems in the country in the coming years.
Within advertising space, companies such as OOH Media, LiveMedia and Vyoma are some of the prominent players which are largely deploying digital signage systems across various verticals.
According to “Shriranga K. Sudhakara, Managing Director, Vyoma Media,” Digital Signage industry is at an inflexion point in India with enormous learnings that has gone into this industry over the last 10 years. Collaboration across all stakeholders in this industry is a must, which would ensure the industry to reach astronomical heights in the near future.
According to “Rajat Kharbanda, Senior Consultant, Research and Consulting, 6Wresearch,” Samsung and LG have the leading market shares in digital signage display screens segment both in revenue and volume terms, followed by Sony, Panasonic and others.
“In terms of screen sizes, 32-40 inches’’ based screens accounts for majority of the market demand, owing to low cost and high market penetration. However, the trend is now rapidly shifting towards 40-50 inches’’ and above screen size display screens for both single and video wall applications,” Rajat further added.
According to Prijo Samuel, Senior Research Analyst, Research and Consulting, 6Wresearch, within display screen segment, OLED based digital signage display screen market is anticipated to post higher growth over the next six years, owing to growing awareness, expected declining prices coupled with increasing penetration of OLED display screen players. Apart from LG’s OLED display screen solutions, Sony and Panasonic have also introduced OLED based display screens in early 2017.
Additionally, Samsung’s new SUHD or Quantum-dots LED based display screens are likely to foresee potential growth in the coming years in both consumer television and commercial digital signage market,” Samuel concluded.
Digital signage market is widely categorized in terms of display screen OEMs, media owners (advertising companies), content player & software providers, and whole solution providers, out of which display screen OEMs held highest revenue share.
The major companies in India digital signage market include- Samsung, LG, Panasonic, Sony, Benq, Sharp, Philips, Xtreme-Media, Nusyn Digital, Vyoma Technologies, OOH Media, and 3M.
