Market research reports aren't just for companies questioning whether to invest in a new technology – they can be valuable road maps that help business leaders track trends and make the most of their current IT assets. Digital signage reports are especially interesting and useful, as this is a technology constantly sees new and innovative variations on a classic template.
Smart decision-makers will analyze these reports and discover how to achieve a competitive advantage. Here is a look at two of the most recent studies conducted on the digital signage market, and some lessons that business leaders can learn from the findings.
1. Signage is a global trend: North American markets are generally leaders of the pack when it comes to the implementation of new technologies, but it's clear that signage adoption has transcended regional boundaries of late, making its way into a number of new countries.
"Signage has transcended regional boundaries."
A MarketsandMarkets report found that the global signage market is expected to rise from $23.76 Billion in 2020, up from $14.63 billion in 2014, with much of this increase coming from Asian and European markets. Businesses in the U.S. would be wise to keep an eye on how companies around the world are deploying signage, and learn best practices from other leaders.
2. New applications catching on: While signage was once only found in a handful of retail or consumer service contexts, it has become increasingly popular in countless new contexts. The MarketsandMarkets report showed that companies are now using signage to improve corporate communications, promote last-minute sales and even build communities on university campuses.
It's clear from this research that the sky's the limit when it comes to signage innovation, and the leaders of the next generation will not fear a healthy amount of experimentation. In fact, according to IDC, banking, insurance and other large enterprises are using signage much more commonly these days, proving that there is a bright and unpredictable future for this technology.
3. Tech issues clearing up: With advances in digital signage software, companies are no longer experiencing technological challenges that burdened their deployments in the past. IDC revealed that 82 percent of organizations are very satisfied with the technology, and the more familiar they become with the software, the more profitable the solutions will be.
4. Transformation is inevitable: There's no telling what the future will bring for digital signage, but touchscreen technology and beacons are sure signs that solutions will transform dramatically in years to come. With stronger content and scheduling capabilities, companies will truly be able to customize their platforms to perfection.
"Current digital signage implementations are producing significant value by enabling content that is changeable and interactive for its target audience," said Keith Kmetz, vice president of IDC's Imaging, Printing and Document Solutions research. "This new level of communication is an effective broadcast medium that will continue to increase in usage."
Signage has earned its stripes as a must-have enterprise tech solution, and now it's time for business leaders to make the most of this powerful format.