How Large is the Market for Digital Signage?

Digital signage is a powerful way to engage your audience. It can provide vital information, promote products, and communicate your brand’s message.

The COVID-19 pandemic may cause businesses to decrease their marketing and advertising budgets, which is expected to hinder the market’s growth in the future. However, the demand for digital signage is increasing due to technological advancements and increased digitization.

How big is the market?

Digital signage is a type of display that delivers targeted messages to specific audiences. It can be used to advertise products or services, provide directions, and inform viewers about current events. It can also be used to create a more engaging and interactive experience for visitors. One of the biggest trends in digital signage is the increased use of mobile technology. This is because it allows viewers to interact with the sign using their phones. For example, they can scan a QR code to get a discount on their purchase, use wayfinding on their phone to navigate the venue, enter a code to access free wifi, and more.

The global digital signage market is divided into two categories: hardware and software. The hardware component includes items such as LCD screens, LED lights, and Liquid Crystal Display (LCD) boards. This segment accounted for the largest share of the market in 2022 and is expected to continue growing at a rapid pace over the forecast period.

The software segment includes items such as management platforms, content creation tools, and remote monitoring systems. This segment is expected to grow at a slower rate than the hardware segment, but is still expected to grow significantly over the forecast period. A key factor driving the growth of this segment is the increasing demand for digitized information in various industries. This trend is being driven by the increased need for clear and comprehensive product information, as well as the ability to reach a wider audience.

What are the main components of a digital signage system?

The main components of a digital signage system are display screens, software, and media players. The display screens can be either standalone devices or they can be built into the digital signs themselves. The media players are used to manage and control the content that is displayed on the screens. They also allow for remote screen playback. The software is used to create and schedule content for the digital signs.

Another important component of a digital signage system is the sensors that can be used to track audience reactions and provide real-time feedback. These sensors can monitor things like customer demographics, pathways, dwell times, and detection rates. The sensors can then adjust the display content to provide relevant information to the audience. They can even change the presentation based on the time of day or season.

In addition to the sensors, digital signage systems can also include video walls that can be used to display large images and videos. The most common type of display is a TV screen that can be wall-mounted or placed on a stand. These screens are typically high-resolution and have a large screen size, making them ideal for displaying digital signage. It is recommended that these displays be positioned at eye level so that they can be easily read by the audience.

What are the benefits of digital signage?

Digital signage is an effective way to reach and engage audiences. It can help increase impulse purchases for retailers, provide workplace safety information to employees, and offer straightforward navigation for customers. It is also an effective marketing tool that can be used to display promotional videos, special offers, and product promotions. Studies have shown that 19% of in-store buyers make unplanned purchases because of the messages displayed on digital signage.

The growth of the digital signage market is driven by the use of immersive and interactive displays. These displays are used in stadiums, indoor arenas, airports, bus/rail stations, hotels, retail stores, and restaurants. The technology is also being used in schools, hospitals, and government offices to communicate with staff and visitors. The global digital signage market is growing rapidly due to the increasing number of applications and innovations in the field.

In the latest version of our Digital Signage Report 2023, we include detailed discussions with industry leaders and subject matter experts to obtain critical qualitative and quantitative information on the current and future state of the market. This data is complemented by an analysis of key industry trends and forecasts.

The COVID-19 pandemic has caused a significant impact on the overall display industry with manufacturing operations temporarily suspended in many regions. This has led to a reduction in production and supply chain disruptions. This has impacted the digital signage market with some of the key players reducing their advertising and sales spend. This has in turn impacted the revenue of these companies and is expected to continue for the next few months.

What are the disadvantages of digital signage?

Digital signage uses technology to display text, images, videos, restaurant menus, news, weather reports and more on flat screen monitors. These systems can be accessed remotely to change content. This gives businesses the ability to respond quickly to current events or promote special promotions.

While digital signs are easy to use, they do require some upfront investment in hardware and software. It can also take time to get them up and running, especially for companies with multiple locations. However, the cost savings in printing, erecting and replacing printed signs makes it an economical alternative.

Because it is visual, digital signage is more engaging for audiences than other forms of communication. It has a high recall rate and can increase brand awareness by displaying branded content and messaging. Additionally, digital signage can reduce perceived wait times by displaying real-time information and providing interactivity.

In addition to being eye-catching, digital signage can also improve productivity by communicating with employees. Whether it is a company announcement, meeting schedule, or KPI reporting, digital signs can make it easier for staff to stay informed. They can also be used to educate staff about new products or services and improve wayfinding. They can also be used to display important emergency alerts and provide safety tips.