Digital Signage market size is estimated to be worth US$ 11080 million in 2022 and is forecast to a readjusted size of US$ 14510 million by 2028 with a CAGR of 4.6% - Valuates reports

Due to the COVID-19 pandemic, the global Digital Signage market size is estimated to be worth US$ 11080 million in 2022 and is forecast to a readjusted size of US$ 14510 million by 2028 with a CAGR of 4.6% during the review period. Key drivers of the digital signage market include the need for brick-and-mortar stores to implement visual merchandising ideas in order to attract customers in a highly digital world.

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Medical professionals rely on clear accessible information to boost the patient health outcome which will fuel the growth of the global digital signage market during the forecast period. Digital signage market trends will be impacted positively by hospitality which will drive the market growth in the coming years. LED bus destination displays and other outdoor digital displays for advertising in the transport industry will offer lucrative opportunities for the expansion of the market in the subsequent years. Other miscellaneous industries will surge the growth of the digital signage market during the forecast period.

TRENDS INFLUENCING THE GLOBAL DIGITAL SIGNAGE MARKET
Retail sector

The signage industry trends will grow tremendously as the importance of signage picks up in the retail sector. Interactive digital signages provide a personal experience to users. As the price of hardware and software decreases every retail business out there is adopting digital signages, and boards for a variety of purposes. Instore displays can help in product catalogs, updating consumers about the occupancy levels in different areas, and maintaining social distancing. Furthermore, the signages can act as additional customer support assistance by displaying FAQs or connecting to a customer support expert. Product-specific promotional messages can be put out there to increase customer engagement. Advanced video analytic tools collect data inside stores and then process it to produce a better brand story through dynamic real-time promotional content based on demographics, personal preferences, and expressions. These factors will surge the growth of the digital signage market during the forecast period.

Hospital industry

Medical facilities are big, busy places that can be a little intimidating for patients especially when they are tense about their health conditions. Wayfinding interruptions and maze-like designs of modern healthcare facilities are confusing, stressful, and cost the healthcare industry a lot of money every year. Directing traffic will become easier through digital signages freeing up the on-duty staff of non-essential close-up interactions. Bedside digital signages have emerged which provide constant real-time updates of a patient's stay, his/her vital signs, photos, and attached phone numbers of care teams. The tablets, TVs, and pillow speakers provide them with educational medical content related to their specific conditions and convey any surgical procedure, and treatment plans beforehand along with treatment schedule, and test results. Moreover, other huge benefits involve decreasing waiting room anxiety by updating patients about their average waiting period or guests can keep track of their loved ones' status and location. Educational and general wellness content, public safety announcements, and workplace safety tips can be displayed in real-time through interactive digital displays. Additional revenue opportunities can be explored through renting advertising spaces. Most importantly doctors and nurses can check vital information on wide-eyed crystal clear display resolutions increasing the speed of diagnosis level. All such factors will augment the demand for the digital signage market during the forthcoming years.

Hospitality industry

Guests want a pleasing and soothing experience during their hotel stay. After a long flight or an exhausting train journey, the check-in experience can be enhanced through beautiful digital displays of photography or graphically designed welcome notes. Event scheduling, presentation, and conference are aided by digital displays. Updating menus and customers' food selections can be done easily through digital boards. Interactive kiosks and other advertising displays can provide crucial information about the new location, hotel amenities, and testimonials. High-resolution video, images grab the attention of viewers quickly. As technological innovations take place hoteliers are investing in digital signages with animation and motion graphics support that attract viewers significantly. Hence the radical changes in the sector will propel the growth of the digital signage market in the upcoming years.

Use in transportation

Public transport terminals, bus stands, airports, and railway stations are the application areas for digital signages. LED and LCD destination displays are put up for various purposes. For instance in transit communication and advertising displays are the preferred uses. Digital displays take poster marketing and static displays to another level by converting them into rich media content. Furthermore, branding campaigns, dynamic messaging, last-minute transport news, cancellations, delay, and emergencies are conveyed directly to the passenger in real-time. Interactive displays and programs make the traveling experience engaging. All such features will increase the growth prospects of the digital signage market during the forecast period.

Miscellaneous uses

Key players have come out with upgraded versions of digital signages. The smart interactive displays with 4K reading, writing, precision touch, and seamless pen on the paper assist are useful for higher educational institutes and corporate meeting hubs where real-time quick response is a must. The simple plug it in feature with multiple device support comes with high internet bandwidth that enables anyone to start the presentation immediately. This in turn will drive the demand for the digital signage market in the subsequent years.

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