Technology

Global digital signage to hit $37.64B by 2028

June 23, 2021

The global digital signage market is expected to grow from $20.64 billion in 2020 to $37.64 billion by 2028, at a combined annual growth rate of 7.8% during the forecast period 2021-2028, according to a Fior Markets report.

High demand for bright and energy-efficient display panels, rapid digitization and reduced demand for traditional billboards are some of the factors driving the growth, according to a press release on the report.

The lower cost of displays and the improved customer experience are some of the factors also driving the digital signage market. Additionally, the development of government agencies, as well as the fast-growing education sector, further contribute to market growth.

However, the deployment of wide-screen alternatives such as monitors and non-screen displays, lack of standard policy and energy issues hinder the growth of the digital signage market to a certain extent.

Trends include:

• Emerging display technology such as micro-LED and quantum dots and the growing preference of electronic giants towards large display screens provide lucrative market opportunities.
• The introduction of interactive screens to allow interaction with customers to gain more general appeal has increased the demand for digital signage.
• The application of artificial intelligence in new products provides customization, ease of data collection and more benefits and planning.