Digital signage is a rapidly growing market, with the industry expected to be worth $32.84 billion by 2023.
If you’re considering adding digital signage to your marketing strategy, you’re making a good choice. Digital signage can increase brand awareness, engage your audience, and drive better results from your marketing efforts.
But before you dive in, you should be aware of the digital signage industry trends and statistics that can help you make the best decisions for your business.
1. Digital Signage in Corporate Spaces Is Growing
Digital signage is increasingly being adopted in corporate office spaces, with the market expected to grow by 8.2% between 2021 and 2028. With the COVID-19 pandemic, many businesses have had to rethink how they communicate with their employees and customers. This has led to a surge in demand for digital signage solutions.
In corporate office spaces, digital signage is used to display various types of content, including:
• Company news and announcements
• Safety and emergency information
• Employee recognition
• Meeting schedules
• Wayfinding and directories
• HR and benefits information
• And more
Digital signage is a powerful tool that can help businesses improve employee engagement and communication. With the rise of remote and hybrid work, it’s more important than ever for businesses to have effective communication strategies in place.
🚩
Top Tip: If you’re looking to grow your digital signage business, consider focusing on the corporate market.
There’s a lot of growth potential, and businesses are looking for new and innovative ways to communicate with their employees and customers.
2. The Digital Out-of-Home (DOOH) Market Is Expanding
The digital out-of-home (DOOH) market is growing as companies continue to see the benefits of digital signage advertising.
According to a report by Grand View Research, the DOOH market size was valued at $5.56 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 9.3% from 2021 to 2028.
The report also found that the retail segment accounted for the largest revenue share in 2020 and that North America was the largest regional market for DOOH.
3. The Global Digital Signage Market Is on the Rise
The digital signage market is expected to grow from $20.8 billion in 2021 to $29.6 billion by 2026. This is a compound annual growth rate of 7.3%.
The market is growing for several reasons, including the increasing demand for digital signage in public and commercial areas and the rapid technological advancements in digital displays.
In addition, the digital signage industry is expected to benefit from the increasing demand for contactless digital solutions in the wake of the COVID-19 pandemic.
4. The Interactive Kiosk Market Is Growing
Interactive kiosks are a type of digital signage that allows users to interact with the display and access information. They’re most commonly used in retail and wayfinding applications.
The interactive kiosk market is growing and is expected to reach $45.7 billion by 2028. This is a compound annual growth rate of 15.6% from 2021 to 2028.
5. Digital Signage Is Becoming More Popular in Educational Institutions
Digital signage solutions are also becoming popular in educational institutions. The digital signage market in the education sector is expected to grow by 17.4% in the next few years.
Schools and universities are using digital signage to improve communication with students and staff, provide wayfinding information, promote school events, and more.
With digital signage, educational institutions can keep up with the latest technology trends and improve the overall learning experience.
6. The North American Digital Signage Market Is Thriving
While digital signage is a global industry, it’s particularly popular in North America. The North American digital signage market is expected to grow at a CAGR of 6.6% from 2021 to 2028.
This growth is driven by factors such as the increasing demand for digital signage solutions in retail, healthcare, and transportation applications and the growing adoption of new technologies like 4K and ultra-high-definition displays.
Additionally, the U.S. is expected to dominate the digital signage market in North America due to the high demand for digital signage solutions in the retail and transportation sectors, as well as the increasing focus on customer engagement and interactive displays.
7. There’s a Growing Demand for Digital Signage Software
As the digital signage market continues to grow, so does the demand for digital signage software.
Digital signage software is a tool that allows you to create, manage, and display content on your digital signs. It’s an essential component of any digital signage system and can be used for a wide range of applications, from advertising to information displays.
There are many different digital signage software solutions available, and the market is becoming increasingly competitive. This is good news for businesses, as it means there are more options to choose from and prices are likely to become more affordable.
If you’re thinking about investing in digital signage for your business, make sure you consider the digital signage software options available.
A good digital signage software solution can make it easy to create and manage your digital signs, and help you get the most out of your investment.
8. The Future of Digital Signage Looks Bright
The digital signage industry is thriving, and it shows no signs of slowing down anytime soon. The industry is expected to grow by a whopping $10 billion between 2020 and 2024.
One of the main reasons for this growth is the increasing demand for digital signage solutions across a wide range of industries.
From retail to healthcare to corporate communications, digital signage is being used in more places and more ways than ever before.
As the technology continues to evolve, we can expect to see even more exciting developments in the world of digital signage in the years to come.
Conclusion
When it comes to digital signage, the stats don’t lie. It’s a powerful tool that can help you grow your business and better connect with your customers.
Looking to set up your own digital signage system? Escreen Software is the industry leader in user-friendly digital signage.
From in-store digital posters to video walls for events or as an eye-catching feature in the office, getting started with Escreen Software couldn’t be simpler.
For help setting up an easy-to-use, affordable digital signage system start a 14-day free trial of Escreen Software here.
Or request a demo to find out how digital signage can work for you!
