The digital signage market is forecast to grow 18.2% over the next four years, according to the market research team at IHS Markit.
We’ve already seen some extraordinary advances in digital signage during 2017 — Coca-Cola’s 1,760 individually controlled LED screens in Times Square, bold experiments with haptic technology , not to mention the rapid adoption of digital menu boards.
Things will only get better. IHS Markit believes that the global public display market, which includes “public-display monitors and public-display TVs used in digital signage and professional applications” will see strong and steady growth well into the next decade.
Specifically, revenues from the aforementioned product categories are expected to grow from $6 billion (£4.5 billion) in 2016 to $13.7 billion (£9.7 billion) by 2021. Unit shipments, meanwhile, will see an increase from 3.1 million units in 2016 to 5.1 million units over the next four years.
It shows how digital signage, in all its forms, is proving to be more effective and efficient than traditional signage. Companies and organisations are increasingly seeing the benefits of using large format displays for advertising (indoor and out), wayfinding and education.
Demand for larger displays
“In the long term, public display revenue growth will be fuelled by high demand for larger-sized displays, particularly in the education and corporate space,” said Sanju Khatri, director, digital signage and professional video at IHS Markit.
“Displays sized 65 inches are the most popular category,” Khatri adds, “and those between 80 inches to 89 inches are showing fastest revenue growth in the education and corporate collaboration verticals.”
That said, while demand for large displays will seemingly reduce shipments of smaller screen sizes (those below 40 inches), the need for 45-inch to 59-inch panels will remain. Products with ultra-slim bezels, like the ASUS ST467, can enable the installation of eye-catching multi-screen configurations that are just as effective.
The educational sector is an obvious growth area, as classrooms that were once focused around black or whiteboards, now transition to large-format, interactive displays. According to research data, 67% of students agree that digital signage and communication helps them prepare for class, while 47% of schoolchildren use a touchscreen on a regular basis.
In corporate environments, smart businesses are deploying large displays as key information drivers — to broadcast branded channels, to show off their business success stories, and to communicate and educate staff and customers alike. Displays are also a key part of modern video conferencing systems, such as Google Hangouts Meet, linking together remote teams and connecting with clients.
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