Digital signage is a prime example of a technology experiencing a massive resurgence, with a wide variety of industries and use cases breathing new life into displays and software services.
Now, reports from sector analysts reveal the incredible growth and impact of next-gen digital signage, and reveal that these technologies will only gain more momentum as time goes on.
To convey just how influential signage has been in the past several years and help businesses understand its value moving forward, here are some of the major highlights from recent market reports covering the digital signage arena:
Staggering growth: Even early adopters of digital signage will be surprised to hear just how quickly and aggressively the market has expanded in recent years – and the forecasts that analysts are putting forth for the future.
As a press release from ReportLinker noted, the digital signage market is slated for a compound annual growth rate of 8.04 percent between 2015 and 2020. In terms of capital, this means that the industry will go from $14.89 billion to $21.92 billion over the course of this five-year stretch.
While growth will be found mainly in the United States, Germany and the United Kingdom are also expected to invest heavily in these solutions. Additionally, Asia Pacific markets such as those in Japan and South Korea will see huge upticks in signage adoption.
Diverse applications: It's not only the scope of the signage market impressing investors and brands – it's also the range of use cases that are proving just how versatile these tools can be. While digital signage was once only used in a handful of sectors, innovators are finding ways to incorporate displays and advanced multimedia messaging into nearly every industry imaginable.
"Environmental initiatives are boosting signage investment."
"[The] market can be divided into various verticals such as corporate and commercial sector, manufacturing, educational institutes, government, banking and financial institutes, transportation, retail and wholesale, media and entertainment, and health care," noted Future Market Insights.
Furthermore, trends in energy saving and paper waste prevention are also contributing to worldwide signage adoption, with environmental initiatives catching on across the public and private sectors.
Connected markets: While the core products and services of the digital signage market are indeed seeing greater levels of distribution and sales, there are numerous other facets of the tech sector that have received an indirect boost from the rapid evolution of signage.
"Touchscreen technologies and near field communications have provided an impetus to this market. These help in saving costs associated with traditional printed advertisements which are more time consuming and tedious to implement," stated the ReportLinker press release.
It's clear that digital signage is approaching a new level of usage and interest from a wide range of sectors, and its popularity will only skyrocket with the introduction of new technologies and software services over time. Brands must act now to implement signage in creative and strategic ways to ensure the achievement of competitive advantage in this key trend.