Digital signage has seen a significant and consistent evolution, so you might wonder what digital signage industry trends the new year holds. After all, you don’t want to settle for outdated smart solutions or make the wrong investments in your retail business, educational institute, or else. So, tag along to learn about what’s at the forefront of digital signage.
Digital Signage Industry Trends 2022 and Beyond
You might be wondering which fields are likely to get the most out of digital signage this year. Let’s start with education systems, which will still be partially reliant on remote learning. That creates a market for digital signage, mainly mobile publishing and economy.
Also, the transportation game is changing. So, expect huge numbers travelling over the next five years, which will also benefit the hospitality segment.
Additionally, the events industry has so much potential, so you might want to take advantage of that. We’re talking hybrid conferences with people attending physically and virtually.
Digital Signage Market Size and Scope
The market is flooded with big names, including Samsung Electronics, Sharp Corporation, Leyard Optoelectronic, Sony Corporation, LG Electronics, Panasonic Corporation, Barco, AU Optronics, Shanghai Goodview Electronics..
With these companies, the impact of the digital signage market spans over Europe, Asia Pacific, North America, and RoW.
Digital Signage Market Statistics
When it comes to digital signage market statistics, the compound annual growth rate (CAGR) was $823 million in 2018, and we’re expecting it to grow to 1.3 Billion in 2025. And we don’t expect anything less for the UK either, thanks to the restaurants, commodity showrooms, and fast-food chains.
How Big Is the Digital Signage Industry?
If you want an even deeper look into the future of digital signage, you’ve got to look at the digital signage benefits statistics. There’s an expectation that the CAGR will expand by 7.7% from 2021 to 2030, leaving it at US$38.63 Billion. That’s how big it is!
The remarkable growth is due to an increased demand for the digital promotion of goods and services and the production of holographic films. We also can’t disregard the digital signage advancements already in motion, which have enhanced the viewing experience.
The Impact of COVID-19 on Digital Signage
Like everything else, COVID-19 has changed the digital signage market. But the change hasn’t been uniform, so the pandemic has caused some digital signage fields to flourish, while others took a backbench.
To illustrate, digital signage software is becoming more popularised, which isn’t surprising. After all, there’s a market for content management of multiple digital screens, cloud-based signage solutions, software licences (as you can upgrade them), and social distancing communications.
At the same time, the COVID-19 pandemic came with strict lockdown regulations. As a result, there was a halt in the manufacturing process, which disrupted the production of digital signage technologies.
Key Market Trends in Digital Signage
Without further ado, let’s get more into details about the digital signage trends of 2022.
Demand for Bright and Power-Efficient Display Panels
Hardware digital signage solutions are in right now. But more than that, we’re seeing an emphasis on ones with efficient power consumption.
Manufacturers are employing quantum dot applications in LCD televisions, which require less energy consumption. Also, LEDs are popular, and quantum dots render them energy efficient. So, they’ll make excellent lighting products for homes and offices.
We’ve also noticed Sharp Corporation’s dedication to the brightness of high-def displays, and that’s the case for other companies as well. We’re talking a brightness of 2000 nits and more.
Rapid Digitalisation and Decline in Demand for Traditional Billboards
You can see the rapid digitalisation effect on the spread of electronic large-screen displays. This is prevalent in banking, healthcare, hospitality, entertainment, education, and transport.
For instance, there are more ATMs, e-banking centres, remote content management, and digital product promotion than ever. So, don’t be surprised if you see more advertisements on digital signage panels and touch-enabled point of sale displays for ecommerce shopping.
Also, digital billboards are so trendy because of the demand for dynamic and interactive marketing techniques.
That’s because they enable retailers to accommodate the changing shopping behaviours and engage potential consumers with real-time and relevant content. But, of course, the popularity of large digital screens inevitably means less traditional billboards.
Increase in Demand for 4K and Ultra-HD Devices
Naturally, there’s a bigger platform for high-quality content in 2022, such as 4k, 8k, and ultra-HD devices on big wall-sized LCD and LED displays. That’s because consumers expect sharp images, high resolutions, and better motion portrayal.
The demand for wall-sized LCD and LED screens has pushed small and micro screens out of the way. That means you can employ digital signage solutions to offer an improved viewing experience.
Display Technology, such as microLED and Quantum Dots
MicroLED will probably be soaring with a CAGR of 153.1% from 2021 to 2026. It was actually Luxvue’s acquisition by Apple that laid the seeds for this trend in 2014. Accordingly, you should invest in microLED screens that’ll provide hundreds of thousands of Nits.
As for quantum dots, the estimated CAGR is 40.9% (between 2021 to 2026). Its practical applications are tied to LCD TV, as it enhances its LED backlighting. And it does that by exchanging in-between colours for pure colours, hence offering a more extensive colour gamut.
Digital Signage by Industry Trends and Statistics
You’re interested in digital signage solutions because you want to implement them in retail, advertising, education, healthcare, or other fields. So, here’s what that’ll look like in each sector:
Retail
As you probably know, retail holds arguably the biggest digital signage network. This is understandable because over 40% of shoppers state that digital displays affect their buying decisions. After all, the information they offer about products tips the scales in their favour.
Advertising
When it comes to advertisements, 71% of people say they’re more likely to remember a digital billboard than an online advertisement. Additionally, 46% claim they’re even more memorable than TV advertisements!
Hospitality
If you’re in the hospitality field, digital signage solutions can make the wait time for customers go by fast. Not to mention, they can make for a better visitor experience; think of check-in kiosks, for instance.
Education
73% of educational institutions consider digital signage necessary for future communications. For example, you can use digital signage to update students about their latest classes on social media feeds and present relevant information.
Corporate Communication
Do you want to support your workers with corporate digital signage solutions so that they’re more productive? Good internal communication is vital, as it can increase their productivity level by 25%. Do you know what can help you achieve that? Digital screens and screensavers that inform all your employees of the latest updates.
Restaurants
Digital menus are easy to update. Accordingly, you can always keep your menus relevant and tweak their sizes, font, and overall display to get the perfect setup. Not to mention, 29.5% of customers are more likely to purchase food items. For instance, Prime Burger, a big UK trade show centre, has doubled its sales by using digital rather than static signs.
Tradeshows
User-generated content can be a lifesaver in tradeshows when you only have moments to make an impression. Digital signage methods, including tablets for registration and on-site technologies, can do that for half the costs of expensive systems, registration staff, and printed material.
Healthcare
In healthcare systems, digital signage provides patients with better healthcare support and information. Also, it can ease stress and anxiety, reducing wait time by 35%. Also, digital messaging systems are becoming more prevalent.
Gym & Spa
Do you want to maximise the time customers spend in your spa or gym? Then, digital signs should be your go-to. To illustrate, you can use digital signage to motivate them, build a sense of community, and boost your sales.
Competitive Landscape Analysis for Digital Signage
Let’s take a look at the digital signage landscape. The leading players are NEC Corporation, Planar Systems, Inc., Panasonic Corporation, LG Electronics, Inc., Sony Corporation, and Samsung Electronics Co, Ltd.
In 2020, the market attained USD 21 billion, and you can expect it to make USD 33 billion by 2026. That’s an 8% CAGR%
In terms of digital signage applications, entertainment has the biggest share in the global digital signage market. The second biggest slice of the cake belongs to education systems, followed by healthcare systems. Then, we have energy and utilities, transportation, hospitality, retail, Banking, financial services and Insurance (BFSI), factories, and other sectors.
Of course, the digital signage market isn’t the same across all regions. To illustrate, it’s thriving the most in Asia Pacific. Still, other major regions in the global market are Europe, North America, Latin America, and the Middle East.
Growth, Opportunity, and Forecast
We’ve talked about how much growth is expected in the following years. The use of large electronic screens in retail, healthcare, education, hospitality, entertainment, banking and transport is contributing to this growth.
Aside from all the trends we’ve already mentioned, this growth is helped by incorporating biometric technology in digital signage products.
Another opportunity that digital signage presents is locating areas with the most consumer traffic to understand consumer behaviour and generate needed insights. This is possible, thanks to gaze trackers and heat path trackers.
What Is the Future of Digital Signage?
With such a digital signage forecast and an 8% CAGR% between 2022 and 2026, we think digital signage’s future speaks for itself. With AL and data insights, the solid momentum of digital signage growth is undeniable.
But what exactly are these technologies aiming to achieve? For one, they’re trying to address the target audience for each message at the right time and place. This way, viewers see what’s most relevant to them.
In addition, digital signage is overcoming today’s sensory overload with filtered content. This way, digital media is more attention-grabbing than traditional media. Not to mention, there’s so much room for updates, so you can tailor your content to be more relevant.
How Will the Digital Signage Industry Grow in the Upcoming Years?
As mentioned, sign industry research showcases a steady rise in the adoption of digital signage technologies. In fact, 60% of enterprises without them are planning to add digital signage solutions to their stores in these two years.
Overall, people are waking up to the importance of upgraded offline marketing with billboards, large panels, and more. So, if you want to create more impactful advertisements, digital signage marketing is the way.
Why Is Digital Signage Gaining Popularity?
Many factors play into the popularity of digital signage. Firstly, digital signage media is dynamic. So, you can update your content whenever you like to make it more personal or relevant to an event, audience, or timing. That includes digital front patients and kiosks. With dynamic, interactive content, you’re guaranteed to improve engagement.
On that same note, consumers are more likely to remember your content because it isn’t static. With novelty, colour, and movement, super-sized advertisements can increase retention rates. Moreover, new outdoor-specific screens can handle wind, sunlight, mixture, and high and low temperatures. And they’re easier to read.
But digital signage’s popularity doesn’t only stem from its technical benefits but also its affordability. For instance, digital screens are a lot more inexpensive than they were years ago, which makes dynamic outdoor signage technologies accessible.
Conclusion
Overall, digital signage’s growth isn’t stopping any time soon, and you don’t want to be hung up on outdated technologies. So, invest in the latest digital signage technology that’ll benefit your institution or business because it’ll surely pay off!
Digital signage technologies can help students keep up with their classes, patients get sufficient support, customers learn about your products, guests enjoy their wait time, and so much more.If you want to find out more about how we can help you with your digital signage needs, please get in touch today!
