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The global digital signage market is expected to witness a strong growth in the next few years. This is owing to the increasing application of this technology across different industry verticals. Digital signage provides an effective way to communicate with employees and consumers. In addition to its functional benefits, it also helps businesses improve their brand image and increase sales.
As of now, the digital signage market is divided into two segments: broadcast content and non-broadcast content. While the broadcast segment includes news, weather and sports, the non-broadcast category encompasses advertisements, events, and information. Both broadcast and non-broadcast content segments are expected to grow at a moderate CAGR.
According to Knoxville Digital Signs One of the biggest trends in the digital signage market is the increasing adoption of interactive displays. These screens can be used for games, wayfinding, and donation boards. They are easy to install and are a great way to get visitors engaged. Users can play games, sign up for email newsletters, and subscribe to social media feeds. Moreover, they help users get more information on specific subjects.
Another major trend is the growing demand for 4K and 8K resolution displays. Companies such as Panasonic, Sony, and LG Electronics are major players in the digital signage market. Additionally, companies such as Leyard Optoelectronic (Planar) and Daktronics have also entered the market. Increasing number of Internet users, development of ground-breaking technologies, and increasing awareness about the potential of digital signage are some of the key factors driving the market.
Among the regions, the North America region dominated the market in 2021. However, Asia Pacific is anticipated to be the fastest-growing segment over the forecast period. Retail stores in this region have been transformed by the advent of digital signage. Many retailers have started using it to promote their products and services. Also, it allows them to change their menus or show a special offer on a given day.
In addition to retail and entertainment, the healthcare sector has also seen an increase in the usage of digital signage. Aside from providing patients with vital health tips, it can also improve the communication of staff members and physicians. By adding digital signs to their waiting rooms, some hospitals have been able to enhance their communications and make employees feel more empowered.
Furthermore, the transportation segment, which is comprised of subway stations, bus stands, airports, and train stations, has been projected to be the fastest-growing segment of the market. It is also expected that the leading retailers will increase their spending on broadcast advertising.
Digital signage in the corporate sector is also expected to experience a robust growth in the near future. Various organizations in the Middle East and Africa are putting in efforts to digitize their services. Several leading retailers have started to spend more on online advertising, in order to reach a larger audience base.
Increasing disposable income and rising visits to multiplexes in Asia Pacific have also contributed to the growth of the digital signage market. With the development of cloud-based solutions, it is now easier for businesses to connect to the internet. Some of the enterprise-level digital signage solutions often include professional services such as training and consulting. Moreover, they usually come with a set of features, including content feeds and design services.