Global Market Research Company US India Digital Signage Market Forecast & Oppurtunit | Page 7

Industry Brief
Digital Signage Market in India Forecast to Grow at CAGR 18% till 2022
According to a recently released TechSci Research report, “India Digital Signage Market By Component, By Application,
By End User, Competition Forecast and Opportunities, 2012-2022”, digital signage market in India is projected to
register a CAGR of over 18% during 2017-2022. With growing outdoor advertising spending by companies to
promote their services and products and use of interactive kiosks by various end use industries, is propelling the
demand for digital signage in India. Increase in retail infrastructure like shopping malls during 2012-2016 played a
major role in the increasing demand for digital signage as shopping malls caters to large number of retail outlets and
food chains which are using digital signage for their advertising and making services more user friendly. During the
coming five years, new airports, metro stations and railway stations are expected to further boost the demand of
digital signage in India.
A bulk of the end user demand for digital signage is expected to come from the retail sector. As per Department of
Industrial Policies and Promotion (DIPP), during 2000-2016 a total of $ 935.74 million Foreign Direct Investment
equity inflow was reported by in India for retail trading and this along with increasing advertisement budgets is
expected to surge the demand for digital signage in digital signage in retail sector over the forecast period. In terms
of region, South and West regions accounted for the highest market shares, and are expected to continue leading
the market in the forecast period. Display Screens and Media Players were the leading demand generators amongst
component types, and this trend is expected to continue during the forecast period as well.
“Government initiatives such as Digital India are blazing a trail for adoption of technologies in both public and private
sectors in the country. In addition to malls and other retail outlets, the Indian railways, state-run bus corporations,
universities, etc. are also moving towards implementing digital signage technology on a war footing. While high
deployment costs remain a concern, the benefits associated with digital signage will significantly outweigh the costs
in the long run”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
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