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.