Digital signage is no longer a novelty, nor can it be dismissed as a fad. On the contrary, digital signage is becoming increasingly commonplace across numerous industries. Experts believe that the global digital signage market will be valued at greater than $11 billion by 2026.
There are a number of factors that may account for the sudden and fast growth of this market. The following are among the more significant:
The COVID-19 Pandemic
It’s important to acknowledge that digital signage can be a useful tool regardless of whether a pandemic is occurring. That said, the COVID-19 pandemic did result in a measurable increase in the usage of digital signage in certain environments. Additionally, industry insiders suspect that because the pandemic has yielded an enhanced focus on health and safety among most people and organizations, digital signage’s usage is likely to become more widespread in the coming years.
This is because digital signage can reduce the need for face-to-face interaction between customers and employees in many contexts. For example, one of the industries that has embraced digital signage quite enthusiastically is the hospitality industry.
Digital signage may serve a range of purposes at hotels and resorts. One of them is providing wayfinding information. Instead of having to ask an employee how to find a certain location at a resort, a guest can now access this information via a digital sign. This reduces health risks by reducing the spread of germs. It also promotes greater customer satisfaction by offering guests a way to easily navigate a large facility when employees are busy attending to other tasks. Similarly, digital signage can help patients and guests navigate large healthcare facilities, where reducing the spread of germs is critical.
An Emphasis on Sustainability
It’s become apparent to many that organizations in virtually any industry have the opportunity to protect the planet by engaging in sustainable business practices whenever possible. In fact, surveys reveal that consumers are growing more and more interested in giving their business to companies that make sustainability a key priority.
This is another factor that may be contributing to the rise of digital signage. Over time, digital signage helps organizations conserve resources (and save money) because it can be updated whenever a new sign needs to be installed. For instance, rather than having to order a new sign every time a new promotion is being advertised, a retailer could install a digital sign and simply update it when necessary. This will eventually limit the store’s consumption of resources.
As more organizations experiment with digital signage, more potential uses for this technology become apparent. This may be the key reason the digital signage market is growing. Essentially, the technology is useful in various different ways. Its versatility has made it a valued tool across many industries, fields, and niches.
Additionally, digital signage is becoming much more affordable and available. What may have once seemed to be a luxury is now being recognized as a cost-friendly innovation that can be useful in numerous practical applications. Along with the other points mentioned here, this is a key reason why digital signage is likely here to stay.