It’s a difficult task to grasp the true size of the digital signage industry. Most industry analysts tend to focus on specific geographic regions or niche sectors and, in most markets, a large majority of the digital signage integrators are localized companies that don’t just specialize in digital signage. Furthermore, measurement techniques between research institutes vary in methodologies.
However, one thing we do know is that the digital signage market is growing rapidly as digital signage systems continue to evolve with better support, performance, efficiency, and more widely available audience metrics techniques.
Below are some of the latest findings and statistics of the burgeoning digital signage industry:
A great article by Bill Gerba compares the findings between three reliable sources of digital signage industry statistics provided by ABI Research, IMS Research, and PQ Media.
Jose Avalos of Intel said that the digital signage industry has been growing at a 40 percent compounded annual growth rate and predicts that 22 million digital signs will be active by 2015. A recent study released by ABI Research also suggests that the global market for digital signage will grow from nearly $1.3 billion in 2010 to almost $4.5 billion in 2016. Retail, corporate, and transportation will continue to be the top three sectors worldwide, but sectors such as healthcare and hospitality are seeing tremendous growth, especially in North America where PQ Media found that the U.S. digital place-based advertising market grew by 15% in 2010 ($1.54B), and expected 16% growth in 2011.
It may also help to view the digital signage industry in its different fragments and market niches:
Global Industry Analysts (GIA), a leading publisher of off-the-shelf market research, announced the release of a comprehensive global report on Flat Panel Display markets, and projected that the world market for Flat Panel Displays will reach $110B by the year 2017. LCD represents the largest market segment in the Flat Panel market worldwide, although LED displays are quickly gaining ground in popularity.
As for billboards, there are over 2500 digital billboards in the United States alone with 82% of states now allowing the adoption of digital billboards.
The digital signage industry continues to exhibit the ability to reach large audiences with a high level of flexibility in a targeted manner. Companies are looking to get more value on their returns, especially with LED’s becoming more accessible than ever before, and organizations that have already deployed digital signage systems successfully will reap the rewards of what they have sowed as this industry continues to blossom.
Contact us at NanoLumens today to learn how to become a member of the growing digital signage industry.