In 2023, digital signage hardware (spanning professional displays and media playback devices – players, servers, processors) garnered spend of $13.7bn, an increase of 0.6% YoY. Last year saw tough market
conditions within Pro Displays, following a strong 2022 and combined with global macroeconomic headwinds, especially in H1 2023.
Spend on LED signage reached $5.7bn in 2023, growing 10% YoY. Although still not as sizeable as the combined signage LCD segment in 2023, LED commanded a 48% share of display spend, forecast to overtake LCD in 2024 to command the lion’s share of market value. LED signage spend will continue to progress at an impressive 23% 23-27 CAGR, reaching $13bn by 2027.