More organizations enjoy digital signage’s benefits

by all | 9 February 2017 9:26 am

Technological advances and urban infrastructure investments will drive the value of the worldwide digital signage market past US$23 billion by 2023, according to new research report by Global Market Insights.

The consulting firm estimates the digital signage business is enjoying a compound annual growth rate (CAGR) of 5.2 per cent on a global basis, which will continue through 2023. The Asia-Pacific (APAC) market will be especially strong, with a regional CAGR of nearly six per cent over the same period, while the U.S. market will remain the largest overall.

The distribution of content—including text, static graphics and video—through digital signage has already proven an efficient strategy for marketing, as the technology is both faster and less expensive than many print-based media. Now, public-sector organizations (example pictured, courtesy Advanced) are also turning to digital signage for their internal communications, emergency notifications and other ongoing needs.

The prices of liquid crystal displays (LCDs) have declined, making them accessible for more applications, but at the same time, market penetration has grown for light-emitting diode (LED) arrays. Wireless bonded ‘flip chip’ LEDs, in particular, are reducing heat dissipation and failures while maximizing light angles.

As for vertical markets, retail continues to dominate the digital signage industry, having accounted for more than 40 per cent of revenue in 2015, but Global Market Insights reports health-care applications enjoy considerable prospects for growth, as the technology is adopted to display notices, deliver tips for improving patients’ health and sharing essential registration information.

Source URL: https://www.signmedia.ca/more-organizations-enjoy-digital-signages-benefits/

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