Digital signage was once a niche innovation that some businesses used primarily as a novelty to grab the attention of customers. That’s no longer the case. Businesses in virtually all industries have found digital signage can offer genuine value.
The data reflects this. According to one recent report, the global digital signage market’s worth could be as great as $38.23 billion by 2028.
Business owners and investors should pay attention to this trend accordingly. Digital signage is no longer a novelty. It’s a practical tool that has uses in everything from corporate offices to schools. Those who monitor its expansion throughout various markets stand to benefit financially.
Why the Digital Signage Market is Growing
Digital signage can serve many purposes. That’s the primary reason more businesses than ever are identifying applications for it.
Fast food restaurants have begun to use digital signage to replace outdated menus with visually-dynamic menus that can be easily updated when new items become available or new promotions begin. Retailers use digital signage to promote sales in a manner that grabs shoppers’ attention. At numerous establishments, including resorts, large office buildings, and museums, digital signage can offer guests convenient wayfinding solutions. Chain restaurants are adding small digital signage devices to tables so customers can place orders or pay for their meals without needing to wait for an employee to become available.
Those are merely a few examples. They illustrate how digital signage is a versatile innovation with an ever-growing list of potential applications.
However, digital signage’s inherent usefulness isn’t the only reason the market is growing. A trend that began years ago picked up unanticipated momentum due to the Covid-19 pandemic.
Digital signage is often interactive. It can thus allow people to limit the spread of germs and viruses by performing tasks that would typically require face-to-face interaction with another person. Again, restaurant customers can use digital signage to place orders. Apartment-dwellers and resort guests can book meeting rooms and similar spaces with digital signage. Digital signage can provide directions at large properties. Some digital signs can even screen employees for high fevers or other signs of health issues when they arrive at an office.
While the pandemic has undeniably been an unwanted challenge for all, it’s clear that Covid-19 has propelled the growth of the digital signage market. Now that we’re all more aware of how important it is to limit the spread of illness in workplaces and public settings, experts generally agree that businesses and organizations will continue using digital signage as a means of both providing convenient services and reducing infection rates.
Digital Signage Market Growth: What This Means to You
The manner in which you may benefit from the growth of the digital signage market will depend at least in part on whether you own a business. As a business owner, you could give yourself a competitive edge by investing in the technology to improve marketing campaigns and streamline various processes for customers. Embracing digital signage in this capacity can also improve your brand’s reputation. Customers and employees may appreciate that you’ve taken steps to prioritize health and limit the spread of contagions.
That said, even if you don’t own a business, you could still invest in the digital signage market. While this piece isn’t meant to provide official financial advice, and you should always do your own research and coordinate with experts when making investment decisions, there’s reason to believe investing in digital signage companies and relevant ETFs could strengthen your portfolio.
The main point to remember is that the digital signage market is almost certainly poised for continued growth. Business owners and investors are in a position to benefit from that growth.