The Latin America digital signage market size was USD 950 Bn in 2022 and is likely to reach USD 1.91 Bn by 2031, expanding at a CAGR of 8.09% during 2023–2031. The growth of the market is attributed to the technological improvements and reduction in the price of display technologies.
Digital signage relies significantly upon hardware parts to guarantee the conveyance of excellent substance. These displays have switched the conventional small and micro-display screens with large wall-sized LCD and LED displays, utilized across different enterprises.
They are intended for applications that require the sellers to draw in their clients/crowds with their more extensive survey points and to provide maximum effectiveness from the advertising messages. Digital signage displays have abnormally traded paper advertising and reduced its importance.
Companies and many other industries are concentrating on a paperless method to put out the word. The outbreak of the COVID-19 pandemic impacted the activities of the different digital signage manufacturers companies and suppliers. However, the relaxation in lockdown is anticipated to gradually increase the demand for digital signage manufacturers.
Market Trends, Drivers, Restraints, and Opportunities
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Increasing adoption of digital signage in commercial applications is driving the growth of the market.
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Rising adoption of electronic signage as a cost-effective medium of promoting and branding any product or service, is estimated to propel the growth of the market.
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Growing educational sector is expected to contribute for growth of the market.
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Deployment of widescreen alternatives such as projectors & screen less displays and lack of standard policy and power problems can hamper the market growth.
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The availability of healthy digital signage suitable for harsh environmental conditions can create challenges for the market growth.
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Evolving display technology such as micro LED and quantum dots and rise in inclination of electronic giants toward large-screen displays can create lucrative opportunities for the market during the forecast period.
Digital Signage Market Scope
The Latin America digital signage market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Latin America Digital Signage Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Types (Hardware [LCD/LED Display, OLED Display, Media Players, Projector/Projection Screens, and Others], Software, and Services), End-users (Corporates, Government, Hospitality, Retail, Transportation, and Others)
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Geographical Scope
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Argentina, Brazil, Mexico, and Rest of Latin America
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Panasonic Corporation, SAMSUNG Electronics Co. Ltd.; 3M Corporation; LG Display Co. Ltd.; and Sony Corporation
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Latin America Digital Signage Market Segment Insights
Hardware segment to expand at a robust CAGR
On the basis of types, the market is classified as hardware, software, and services. The hardware segment is further divided into LCD/LED display, OLED display, media players, projector/projection screens, and others. The hardware segment is projected to expand at a considerable CAGR during the forecast period due to increasing acceptance in growing wholesale space, commercial verticals, and rising infrastructural improvements in developing markets. Further, rising amount of advanced display technologies such as 4K, 8K, and 1080p and latest technologies such as OLED and fine-pixel LED are propelling the segment growth.
Retail segment to account a significant market share
In terms of end-users, the market is categorized as corporates, government, hospitality, retail, transportation, and others. The retail segment is projected to account for a significant market share during the forecast period due to implementation of digital signage technology and advanced operative productivity. Some retail industry companies are accepting the technology to make brand awareness and improved capability. Furthermore, the technology advances consumer football in the retail stores.
Brazil is anticipated to constitute a key market share
Based on geography, the Latin America digital signage is categorized as Argentina, Brazil, Mexico, and Rest of Latin America. Brazil is expected to constitute a key share of the market during the forecast period. Brazil is one of the maximum revenue producing countries in Latin America owing to rapid urbanization. In March 2019, According to The State of innovation in Latin America, Brazil is now home to others of Latin America's supreme inventive organizations.
Segments
The Latin America digital signage market is segmented on the basis of:
Types
- Hardware
- LCD/LED Display
- OLED Display
- Media Players
- Projector/Projection Screens
- Others
- Software
- Services
End-users
- Corporates
- Government
- Hospitality
- Retail
- Transportation
- Others
Geography
- Argentina
- Brazil
- Mexico
- Rest of Latin America
Key Players
Competitive Landscape
The key players competing in the Latin America digital signage are Panasonic Corporation, SAMSUNG Electronics Co. Ltd.; 3M Corporation; LG Display Co. Ltd.; and Sony Corporation.
In October 2020, Telelogos a software supplier company of media, digital signage, and linked devices, extended its existence in Latin America by initialing an office in Mexico City.